Private credit generally involves lending to companies through direct, negotiated loans that are not traded on public markets. Unlike listed bonds, these loans are typically illiquid and held to maturity. They tend to offer higher yields in exchange for reduced liquidity, and require specialist expertise to originate and manage. Private credit is most commonly used to finance middle-market companies that may not be able to access traditional bond markets.

Private market investments carry a number of risks, including:

• Liquidity risk: Private asset investments typically provide limited liquidity – they are not traded on stock exchanges and may restrict the amount or frequency of redemptions.
• Credit or default risk: For debt-based private investments (such as private credit), there is a risk that borrowers may default on their obligations, leading to potential capital losses. 
• Valuation risk: Because private assets are not publicly traded, they are generally subject to periodic or model-based valuations.

It’s important to understand these risks and consider if private assets are appropriate for your investment profile.

For individual (non-advised) investors, Betashares Private Capital funds will be available via Betashares Direct to investors who qualify as wholesale clients. Investors who have a financial adviser can invest in Betashares Private Capital funds through selected investment or superannuation platforms (once available).

‘Quarterly liquidity means redemptions (withdrawals) will generally be processed once every calendar quarter, typically on a pre-determined redemption date. Requests to redeem may be submitted during the quarter relevant redemption period (prior to the any applicable redemption request deadline), but will not be processed until the redemption date. Redemptions may be subject to conditions, such as available liquidity or notice periods. It’s important to review the applicable disclosure document for full details on the redemption terms.