Introducing Betashares Private Capital
Unlock alternative sources of growth, income and diversification
This page is intended only for wholesale investors (being a ‘wholesale client’ as defined under the Corporations Act 2001 (Cth)). By continuing, you acknowledge and confirm that you are a wholesale investor.
Unlock alternative sources of growth, income and diversification
This page is intended only for wholesale investors (being a ‘wholesale client’ as defined under the Corporations Act 2001 (Cth)). By continuing, you acknowledge and confirm that you are a wholesale investor.
Betashares Private Capital gives investors access to carefully selected private market opportunities.
As a dedicated division of Betashares, Betashares Private Capital focuses on delivering institutional grade private market investment solutions to wholesale investors, Australian financial advisers and their clients.
Historically, private investing has been restricted primarily to the world’s largest and most sophisticated investors. Betashares Private Capital is a significant milestone in our mission to help Australians achieve their financial goals by providing access to intelligent investment opportunities.
Our first fund in the Betashares Private Capital range offers the opportunity to earn attractive income from high-quality private credit.
The Betashares Private Capital Cliffwater Private Credit Fund provides exposure to a diversified portfolio of over 3,800 senior secured loans to predominantly US middle-market businesses. The Fund invests in an underlying fund managed by leading global private credit manager, Cliffwater LLC, with foreign currency exposure hedged back to the Australian dollar.
Potential for higher returns than public market equivalents
Historically low correlation to major asset classes can help lower overall portfolio volatility
Opportunity to earn attractive income with a high level of capital stability
*The projected 12-month distribution yield (current as at 27 August 2025) is an estimate only, subject to assumptions, risks and uncertainties. Actual results may differ materially. The projection is based on the underlying fund’s 12-month historical interest rate margin above the benchmark Secured Overnight Financing Rate (SOFR) added to projected SOFR rates, net of Fund fees and costs and estimated FX hedging impact, and assumes no loan portfolio changes, no defaults, and a consistent distribution policy. More info set out below.
Suitability:
The Fund is available to wholesale investors, and other investors with a financial adviser using an investment platform, who are seeking income and capital preservation from an allocation to private credit, and who have a medium risk and return profile for that portion of their investment portfolio. It is suited to investors comfortable with the risks associated with private credit, including exposure to an asset class that is inherently illiquid and limited ability for investors to withdraw their investment. A minimum investment timeframe of 5 years or more is suggested.
Why consider private assets?
Potential for higher returns
Private markets provide access to growth-stage companies and private credit opportunities that offer the potential for higher returns than public market equivalents.
Diversification and reduced volatility
Private assets historically have demonstrated low correlation to traditional equities and bonds, helping to reduce portfolio volatility.
Access to leading global managers
Investing in private assets via Betashares Private Capital provides access to our partners – top-tier investment managers with strong track records and deep expertise, who have robust risk management frameworks.
About Cliffwater LLC
Founded 20 years ago, Cliffwater is a pioneer in the alternatives industry, and one of the most well-known institutional brands in private markets investing. As at 30 June 2025, Cliffwater had over US$40 billion in assets under management and around US$120 billion in assets under advisement, with expertise in private credit, private equity, and real estate investing.
Founder Stephen Nesbitt developed the most widely adopted index in private credit, the Cliffwater Direct Lending Index (CDLI).
Cliffwater pioneered the ‘multi-lender’ model in credit investing, partnering with world leading lenders to source direct loans. This strategy allows Cliffwater to build a highly selective and diversified portfolio of loans with attractive yields.
Platform availability
APIR code: BSC7690AU
Rated by Lonsec
Betashares Private Capital Cliffwater Private Credit Fund has received a ‘Recommended’ rating by Lonsec (September 2025).
The rating published on 09/2025 for BSC7690AU is issued by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec Research). Ratings are general advice only and have been prepared without taking account of investors’ objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec Research assumes no obligation to update. Lonsec Research uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2025 Lonsec. All rights reserved.
Important information and assumptions
Projected 12-month distribution yield is based on:
1. the historical interest rate margin on the underlying fund’s loan portfolio (Interest Rate Margin), being the difference between the 12-month historical distribution yield of the underlying fund and the 12-month return for the US floating rate benchmark applicable to the underlying fund’s loan portfolio (the Secured Overnight Financing Rate (SOFR) Total Return Index published by the Federal Reserve Bank of New York); and
2. adding the Interest Rate Margin to the projected SOFR reference rate (based on current futures market pricing) applicable to the underlying fund’s loan portfolio over the projection period.
The projection is net of Betashares fund’s management fee and costs and the FX hedging impact based on forward exchange rates.
The projected yield assumes: (1) the composition of the underlying fund’s loan portfolio and the Interest Rate Margin remain the same over the projection period; (2) there are no defaults in respect of the underlying fund’s loan portfolio; and (3) the historical distribution policy/profile for the underlying fund is maintained over the projection period.