Betashares Private Capital | Cliffwater Private Credit Fund
Earn attractive income from high-quality private credit
Fund objective
The Fund aims to generate attractive income from exposure to a diversified portfolio of loans issued to predominantly US companies, with foreign currency exposure hedged back to the Australian dollar.
Introducing Cliffwater LLC
The fund primarily invests in the US-domiciled and regulated Cliffwater Corporate Lending Fund (Underlying Fund).
For over 20 years, Cliffwater has been at the forefront of private market investing, providing clients with access to proprietary research, indices, and investment solutions. Widely regarded as a leader in private credit, Cliffwater manages one of the largest portfolios of direct loans available to investors.
Cliffwater utilises an innovative ‘multi-lender’ model, partnering with world leading lenders to source loans. This strategy allows Cliffwater to build a highly selective and diversified portfolio of loans with attractive yields.
Suitability
The Fund is available to wholesale investors, and other investors with a financial adviser using an investment platform. It may suit investors 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. Investors must be 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 is suggested.
Benefits
Earn attractive income with a high level of capital stability
The Fund provides investors with attractive income, paid quarterly, with exposure to predominantly senior secured, floating-rate loans to healthy businesses. This high-quality loan portfolio historically has demonstrated a high degree of capital stability over time.
Enhanced portfolio outcomes
Highly diversified, cost-effective access to private credit
There are risks associated with an investment in the Fund, including liquidity risk, interest rate risk, leverage risk and credit risk. Investment value can go up and down. An investment in the Fund should only be considered as a part of a broader portfolio, taking into account your particular circumstances, including your tolerance for risk. For more information on risks and other features of the Fund, please see the Product Disclosure Statement and Target Market Determination, both available on this website.
Profile
**Certain additional costs may apply. In addition to the management fees and costs, the Fund is expected to incur additional fees and costs associated with its investment in the Underlying Fund (particularly the fees and expenses incurred by Underlying Fund itself). These additional costs are accrued and paid in the Underlying Fund and reflected in the value of the Fund's holding in the Underlying Fund (and therefore the NAV of the Fund). For more information about the fees charged by the Underlying Fund, refer to Section 3 of the Fund's Product Disclosure Statement.
^ Please refer to the redemption calendar below for information on Redemption Request Cut-Off Dates and Redemption Dates. Generally, the Responsible Entity will process redemption requests from the Fund on a quarterly basis, in line with the quarterly repurchase offer of the Underlying Fund. Note that an investor's ability to redeem will be subject to various factors including available liquidity and the Fund's ability to withdraw from the Underlying Fund. In certain circumstances, it is possible that redemptions will not be able to be paid upon request (either in full or partially).
Pricing information
Portfolio characteristics
