The fund seeks to achieve attractive risk-adjusted returns with the downside protection associated with investing primarily in secured private credit opportunities in a manner that is intended to be decoupled from public markets’ volatility.
200,000 companies make up the group of U.S. middle-market companies, each with annual revenues between $10 million and $1 billion.
Middle Market firms contribute nearly $9.3 trillion to the national economy annually and equate to the World’s 3rd largest economy. The sheer size of this market makes it a significant opportunity for private credit lenders.
Source: National Center for the Middle Market, Q3’18 Middle Market Indicator, The Middle Market Power Index: American Express and Dun & Bradstreet, World Bank Group, 2017 GDP
Growing middle market companies generate approximately one third of private sector GDP and employ roughly 47.9 million people in the U.S. Monroe Capital provides capital that allows middle market companies to:
71% of mid-market firms have been in business 20+ years
Middle market loans have lower defaults and similar recoveries compared to broadly syndicated transactions due to:
Increased fragmentation in lower middle market credit has resulted in less competition, improved pricing and lower leverage for lenders.
The Advisor, Monroe Capital, has provided private credit solutions to borrowers in the U.S. and Canada since 2004
Chicago-based, team of approx. 100
National Deal Sourcing Platform
Top of the capital structure with a senior lien on assets and often a pledge
of company stock
Private debt is a loan-by-loan business. Ninepoint supplements fund-level oversight with an in-house Due Diligence & Oversight Team that has over 15 years of experience in corporate lending and loan origination.
Supporting our Oversight Team is BlackRock’s Aladdin. Aladdin provides state-of-the-art risk management tools for our Oversight Team.
|Series F $USD 1||NPP905|
|Series PF $USD 1||NPP915|
|Fund Type||Open-ended unincorporated investment trust|
|Inception Date||April 9, 2019|
|Registered Tax Plan Status||Not Eligible|
|Management Fee||Series F: 0.10%
All Classes are charged a 1.55% advisory fee at Master Fund Level
|Performance Fee††||20% over 7% Preferred†††|
|Minimum Initial Investment||$25,000 USD accredited
$150,000 USD non-accredited*
|Minimum Subsequent Investment||$5,000 USD|
|Minimum Investment Term||24 Months including notice period|
|Redemptions||Quarterly, with 180 days notice†|
* $150,000 for non-individual.
† If during any redemption period, the Manager has received from one or more Unitholders an acceptable Redemption Notice to redeem in aggregate 3% or more of the outstanding Units, the Manager may, in its discretion, choose to meet such redemptions on a pro rata basis effective as of such quarter-end and to meet such excess redemptions on a pro rata basis effective as of subsequent quarter-ends, subject to the application of the 3% limitation for each such subsequent quarter-end.
†† The Fund may invest up to 25% of the total assets in any one issuer at any time prior to the one-year anniversary for the initial closing of the Fund.
†††Fund returns between 7% and 8.75% are payable to the General Partner as a Performance Allocation plus applicable taxes. In addition. 20% of returns in excess of 8.75% are payable to the General Partner as a Performance Allocation.