Ninepoint-Monroe U.S. Private Debt Fund - Series F $USD

Ninepoint-Monroe U.S. Private Debt Fund

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NPP905
Ninepoint-Monroe U.S. Private Debt Fund

Overview

  • U.S. Direct Lending

    U.S. Direct Lending

    Primarily cash flow based loans to U.S. lower mid-market companies with floating interest rates over SOFR with an interest rate floor to hedge against interest rate risk.

  • Credit First, Zero Loss Mentality

    Credit First, Zero Loss Mentality

    Focus on structure, downside risk and principal protection.

  • Senior Secured

    Senior Secured

    Security interests are primarily 1st lien and at the top of the capital structure.

  • Access to U.S. Mid-Market

    Access to U.S. Mid-Market

    U.S. mid-market businesses generate USD$6.0 trillion equating to the world’s 3rd largest economy with loans exhibiting lower default rates and better recoveries when compared to traditional broadly syndicated markets.

Fund Objective

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.

Investment Team

  • Ninepoint Partners Advised by Monroe Capital Management Advisors LLC
    Ninepoint Partners Advised by Monroe Capital Management Advisors LLC
    Monroe Capital LLC (“Monroe”) is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides debt financing to businesses, special situation borrowers, and private equity sponsors. Investment types include cash flow, enterprise value and asset-based loans; unitranche financings; and equity co-inve...
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  • Mick Solimene
    Managing Director, Portfolio Manager, HNW Portfolios
    Mick Solimene
    Managing Director, Portfolio Manager, HNW Portfolios
    Mr. Solimene is a Managing Director and Portfolio Manager for Monroe’s high net worth portfolios, including serving as the Chief Financial Officer and Chief Investment Officer of both Monroe Capital Corporation (NASDAQ:MRCC) and Monroe Capital Income Plus Corporation. He joined the firm in 2021 and is a member of Monroe’s Investment Committee. He has over 35 years of experience in alternative investing, corporate finance, restructuring and special situations.  Prior to Monroe, Mr. Solime...
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Performance

Compound Returns

As at 6/28/2024 (Series F $USD) NPP905
MTD % YTD % 1Y % 3Y % 5Y % 10Y % Inception %†
-
As at 6/28/2024 		3.75 6.51 7.21 7.04 - 6.96
†Inception Date: April 9, 2019

Calendar Year Returns (%)

As at 9/30/2024 (Series F $USD) NPP905
2024 YTD 2023 2022 2021 2020
3.75 6.59 6.92 9.86 4.86

Risk Tolerance

  • Low
  • Low - Med
  • Medium
  • Med - High
  • High

Facts, Fees & Fund Codes

Facts
Fund Type
Open-ended unincorporated investment trust
Inception Date
April 9, 2019
Registered Tax Plan Status
Not Eligible
Disribution
Quarterly††
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
Early redemption fee of 2%, if redeemed within the first 12 months
Redemptions
Quarterly, with 120 days notice.
(Redemption Limit: Per quarter limit on redemptions is 5% of the outstanding NAV of the Master Fund [as defined in the Offering Memorandum] as at the prior quarter’s end. The redemption cap [as defined in the offering memorandum] will apply pro rata across all investors in the Master Fund.)
Valuations
Quarterly
†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 plus applicable taxes. * $150,000 for non-individual.
Fees
Management & Advisory Fee
Series F: 0.10%
All Classes are charged a 1.55% advisory fee at Master Fund Level.
Fund Codes
Series F $USD NPP905
Series PF $USD NPP915
Series F * NPP907
Series PF * NPP916
*Closed to new purchases

Documents

All Funds
  • NPP631
    (Series F)
    Private Asset Funds Hedge Funds & LPs Alternative Income
    $9.65 -$0.13 ()
    As at 9/30/2024
    Growth of $100,000 Invested as at 9/30/2024
    Performance as at 9/30/2024
    1 Year
    -1.17%
    3 Year
    2.03%
    5 Year
    4.32%
    10 Year
    -
    Incept.1
    5.11%
    1 Inception Date 9/30/2016
    Go To Fund

    An investment in the Fund requires the financial ability and willingness to accept the high risks and lack of liquidity inherent in an investment in the Fund. Investors in the Fund must be prepared to bear such risks for an extended period of time. No assurance can be given that the Fund’s investment objectives will be achieved or that investors will receive a return of their capital. Investors should have the financial ability and willingness to accept the risk characteristics of the Fund’s investments. The Fund is available to accredited investors only and Advisors should review the offering documents and the financial ability of their clients in order to ensure investment suitability.

    All returns and fund details are a) based on Class  F  units; b) net of fees; c) annualized if period is greater than one year; d) as at 3/28/2024. Portfolio allocation includes allocation made with pending subscriptions. Sector allocation and geographic allocation estimated as at 3/28/2024. Numbers may not add up due to rounding.

    The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or returns on investment in the investment fund.

    The Manager intends to make a monthly distribution on the Class A Units, the Class F Units, the Class I Units, the Class T Units and the Class FT Units, to holders of such Units, out of the net income of the Fund. The amount of any distributions may fluctuate and there can be no assurance that any distributions will be made in any period or of any particular amount.

    The Ninepoint Alternative Income Fund is generally exposed to the following risks. See the offering memorandum of the Fund for a description of these risks: Fund of Funds Risk; Class Risk; Capital Depletion Risk; Financial Condition, Liquidity and Capital Resources; Inflation and Supply Chain Risk; Risks Related to the Novel Coronavirus Disease (COVID-19); Risks Related to the Russian Invasion of Ukraine; Charges to the Fund; Changes in Investment Objective, Strategies and Restrictions; Unitholders not Entitled to Participate in Management; Dependence of the Manager on Key Personnel; Reliance on the Manager; Resale Restrictions; Limited Ability to Liquidate Investment; Redemptions; Redemption Cap Subject to Manager Discretion; Redemptions in Kind; Valuation of the Fund’s Investments; No Ownership Interest in the Portfolio Funds; Distributions; Liability of Unitholders; Potential Indemnification Obligations; Lack of Independent Experts Representing Unitholders; No Involvement of Unaffiliated Selling Agent; Changes in Legislation; Not a Public Mutual Fund; Tax Considerations; Withholding Taxes; Mutual Fund Trust Status; Information Sharing Requirements and Withholding Tax Risk; Risks Associated with an Investment in the Portfolio Funds; Public Mutual Fund Regulatory Restrictions; Limited Operating History for the Portfolio Funds; Class Risk; Charges to the Portfolio Fund; Changes in Investment Objective, Strategies and Restrictions; Not Entitled to Participate in Management; Dependence of the Manager on Key Personnel; Reliance on the Manager; Dependence of Sub-Advisor on Key Personnel; Reliance on Sub-Advisor; Resale Restrictions; Liquidity of Portfolio Funds; Possible Effect of Redemptions; Distributions and Allocations; Repayment of Certain Distributions; Possible Loss of Limited Liability; Potential Indemnification Obligations; Valuation of the Portfolio Fund’s Investments; Lack of Independent Experts Representing Unitholders (Repetition); No Involvement of Unaffiliated Selling Agent (Repetition); Tax Liability; Risks Associated with the Portfolio Fund’s Underlying Investments.

    The Ninepoint Alternative Income Fund is offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about the Fund, including its investment objective and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Fund and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstance. This communication does not constitute an offer to sell or solicitation to purchase securities of the Fund. 

    The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Ninepoint Partners LP: Toll Free: 1.866.299.9906. Dealer Services: CIBC Mellon GSSC Record Keeping Services: Toll Free: 1.877.358.0540

     

  • NPP801
    (Series F)
    Private Asset Funds Hedge Funds & LPs Alternative Income
    $10.62 -$0.51 (0.09%)
    As at 9/30/2024
    Growth of $100,000 Invested as at 9/30/2024
    Performance as at 9/30/2024
    1 Year
    -20.99%
    3 Year
    -4.49%
    5 Year
    0.19%
    10 Year
    -
    Incept.1
    1.81%
    1 Inception Date 5/1/2018
    Go To Fund

    An investment in the Fund requires the financial ability and willingness to accept the high risks and lack of liquidity inherent in an investment in the Fund. Investors in the Fund must be prepared to bear such risks for an extended period of time. No assurance can be given that the Fund’s investment objectives will be achieved or that investors will receive a return of their capital. Investors should have the financial ability and willingness to accept the risk characteristics of the Fund’s investments. The Fund is available to accredited investors only and Advisors should review the offering documents and the financial ability of their clients in order to ensure investment suitability.

    All returns and fund details are a) based on Class  F  units; b) net of fees; c) annualized if period is greater than one year; d) as at 10/31/2024. Numbers may not add up due to rounding.

    The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or returns on investment in the investment fund.

    The Manager intends to make a quarterly distribution on all Classes of Units, to Unitholders of record as of the close of business on the last Business Day of each quarter. At any time, the Manager may decide to change the frequency of distributions and make monthly or less frequent distributions. The amount and frequency of any distributions may fluctuate and there can be no assurance that any distributions will be made in any period or of any particular amount. 

    The Ninepoint Canadian Senior Debt Fund is generally exposed to the following risks. See the offering memorandum of the Fund for a description of these risks:  General Investment Risk; Class Risk; Changes in Investment Strategy; Limited Ability to Liquidate Investment; Capital Depletion Risk; Redemptions; Redemption Cap Subject to Manager Discretion; Fluctuations in Net Asset Value and Valuation of the Master Fund’s Investments; Financial Condition, Liquidity and Capital Resources; Risks Related to the Novel Coronavirus Disease (COVID-19); Risks Related to the Russian Invasion of Ukraine; Unitholders not Entitled to Participate in Management; Reliance on the Manager; Dependence of the Manager on Key Personnel; Reliance on the Loan Consultant;  Dependence of Loan Consultant on Key Personnel; The Loan Consultant and Manager Receive Management Fees and Performance Fees on the Net Asset Value of the Fund, which includes Payment-in-Kind payments that may never be recovered; Performance Fee; Taxation of the Fund; No Ownership Interest in the Portfolio; Distributions; Potential Indemnification Obligations; Liability of Unitholders; Lack of Independent Experts Representing Unitholders; No Involvement of Unaffiliated Selling Agent; Not a Public Mutual Fund; Charges to the Fund; Risks Associated with the Master Fund and Investments by the Master Fund; Overall Investment Risk; Changes in Investment Strategy; General Economic and Market Conditions; Risks of Executing Investment Strategies; Foreign Currency Risk; Market Liquidity; Discretion of the Manager; Concentration of Investments; Use of Leverage by the Master Fund; Charges to the Master Fund; Non-Disclosure of Positions; Business Risks; Middle Market Companies; Collateral;  Inability to Meet Redemption Requests Due to Illiquidity of Collateral; Risk of Taxation; Availability of Investment Strategies; Credit Risk and Default in Repayment Obligations by Borrowers; Liquidity of Underlying Investments; Borrower Fraud and Breach of Covenants; Senior Loans Risk; Impaired Loans; Inability to Realize on or Dispose of Security Granted by Borrowers on a Defaulted Loan.

    The Ninepoint Canadian Senior Debt Fund is offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about the Fund, including its investment objective and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Fund and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstance. This communication does not constitute an offer to sell or solicitation to purchase securities of the Fund. 

    The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Ninepoint Partners LP: Toll Free: 1.866.299.9906. Dealer Services: CIBC Mellon GSSC Record Keeping Services: Toll Free: 1.877.358.0540

  • NPP1017
    (Series F1)
    Private Asset Funds Hedge Funds & LPs Alternative Income
    $10.26 -$0.01 (0.31%)
    As at 9/30/2024
    Growth of $100,000 Invested as at 9/30/2024
    Performance as at 9/30/2024
    1 Year
    4.97%
    3 Year
    -
    5 Year
    -
    10 Year
    -
    Incept.1
    5.15%
    1 Inception Date 9/30/2022
    Go To Fund

    Ninepoint Partners LP obtained unitholder approval to terminate the Ninepoint-TEC Private Credit Fund on September 30, 2022. As of that date Ninepoint Partners LP launched the Ninepoint-TEC Private Credit Fund II which is available for purchase through offering memorandum as of that date, in Series A1, F1, FT, and T on Fund serv. Please refer to the Offering Memorandum for complete details. For further information, please contact your Ninepoint Product Specialist.

    An investment in the Fund requires the financial ability and willingness to accept the high risks and lack of liquidity inherent in an investment in the Fund. Investors in the Fund must be prepared to bear such risks for an extended period of time. No assurance can be given that the Fund’s investment objectives will be achieved or that investors will receive a return of their capital. Investors should have the financial ability and willingness to accept the risk characteristics of the Fund’s investments. The Fund is available to accredited investors only and Advisors should review the offering documents and the financial ability of their clients in order to ensure investment suitability.

    All returns and fund details are a) based on Class  F1  units; b) net of fees; c) annualized if period is greater than one year; d) as at 10/31/2024. Numbers may not add up due to rounding.

    The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or returns on investment in the investment fund.

    For Class FT Units and Class T Units, Unitholders will receive a target monthly distribution of approximately 6% per annum. These distributions are not guaranteed and may change at any time at the sole discretion of the Manager.

    The Ninepoint-TEC Private Credit Fund II is generally exposed to the following risks. See the offering memorandum of the Fund for a description of these risks: Speculative Investment; General Investment Risk; General Economic and Market Conditions; Inflation and Supply Chain Risk; Disease and Epidemics; Risks Related to the Russian Invasion of Ukraine; Class Risk; Changes in Investment Strategy; Limited Ability to Liquidate Investment; Capital Depletion Risk; Redemptions; Redemption Cap Subject to Manager Discretion; Financial Condition, Liquidity and Capital Resources; Valuation of the Fund’s Investments; Unitholders not Entitled to Participate in Management; Reliance on the Manager; Dependence of the Manager on Key Personnel; Reliance on the Sub-Advisor; Dependence of Sub-Advisor on Key Personnel; The Sub-Advisor and Manager Receive Management Fees and Performance Fees on the Net Asset Value of the Fund; No Ownership Interest in the Portfolio; Distributions; Potential Indemnification Obligations; Liability of Unitholders; Lack of Independent Experts Representing Unitholders; No Involvement of Unaffiliated Selling Agent; Not a Public Mutual Fund; Capital Depletion Risk; Charges to the Fund; Use of a Prime Broker to Hold Assets; Changes in Legislation; Tax Considerations; Withholding Taxes; Information Sharing Requirements and Withholding Tax Risk.

    The Ninepoint-TEC Private Credit Fund II is offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about the Fund, including its investment objective and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Fund and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstance. This communication does not constitute an offer to sell or solicitation to purchase securities of the Fund. 

    The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

    Ninepoint Partners LP: Toll Free: 1.866.299.9906. Dealer Services: CIBC Mellon GSSC Record Keeping Services: Toll Free: 1.877.358.0540

     

An investment in the Fund requires the financial ability and willingness to accept the high risks and lack of liquidity inherent in an investment in the Fund. Investors in the Fund must be prepared to bear such risks for an extended period of time. No assurance can be given that the Fund’s investment objectives will be achieved or that investors will receive a return of their capital. Investors should have the financial ability and willingness to accept the risk characteristics of the Fund’s investments. The Fund is available to accredited investors only and Advisors should review the offering documents and the financial ability of their clients in order to ensure investment suitability.

All returns and fund details are a) based on Class  F $USD  units; b) net of fees; c) annualized if period is greater than one year; d) as at 12/29/2023. Portfolio allocation includes allocation made with pending subscriptions. Numbers may not add up due to rounding.

The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or returns on investment in the investment fund.

Unitholders of a class of Units will be entitled to receive a quarterly distribution equal to 100% of the Net Income (as such term is defined in the Declaration of Trust) of the Fund attributable to such class, as applicable, from the preceding quarter. Quarterly distributions to Unitholders of a class of Units will be automatically reinvested in additional Units of the class at the Net Asset Value of such class of Units on the date of distribution unless the Unitholder has submitted an election to receive distributions in cash prior to date of distribution. Cash distributions will be made in dollars. The Fund reserves the right to adjust the distribution amount for a class of Units if deemed appropriate.

The Ninepoint-Monroe U.S. Private Debt Fund is generally exposed to the following risks. See the offering memorandum of the Fund for a description of these risks: Overall Risk; Not a Complete Investment Program; General Investment Risk; Changes in Investment Strategy; Limited Ability to Liquidate Investment; Redemptions of Units; Redemption Cap Subject to Manager Discretion; Financial Condition, Liquidity and Capital Resources; Capital Depletion Risk; Risks Related to the Novel Coronavirus Disease (COVID-19); Risks Related to the Russian Invasion of Ukraine; Fluctuations in Net Asset Value and Valuation of the Master Fund’s Investments; Unitholders not Entitled to Participate in Management; Reliance on the Manager; Dependence of the Manager on Key Personnel; Reliance on the Advisor; Dependence of Advisor on Key Personnel; Taxation of the Fund; No Ownership Interest in the Master Fund or Portfolio; Delays in Subscription; Distributions; Potential Indemnification Obligations; Liability of Unitholders; Lack of Independent Experts Representing Unitholders; No Involvement of Unaffiliated Selling Agent; Not a Public Mutual Fund; Charges to the Fund; Risks Associated with the Master Fund and Investments by the Master Fund; Overall Investment Risk; Changes in Investment Strategy; General Economic and Market Conditions; Risks of Executing Investment Strategies; Market Liquidity; Discretion of the Manager; Concentration of Investments; Charges to the Master Fund; Performance Allocation; Non-Disclosure of Positions; Risk of Taxation; Availability of Investment Strategies; Business Risks; Middle Market Companies; Nature of Investments; Non-Performing Loans; Collateral; Inability to Meet Redemption Requests Due to Illiquidity of Collateral; Illiquidity; Credit Risk; Securitized Products; Investment in Collateralized Loan Obligations; Affiliated Collateralized Loan Obligations; Investments in Pooled Investment Funds; Real Estate Investments; Principal Transactions; Loan Origination; Availability of Loans; Lender Liability and Equitable Subordination; Interest Rate Risk; Borrower Fraud; Breach of Covenant; Insolvency Considerations with Respect to Issuers of Loans; Lender Liability; Equitable Subordination; Senior Loans Risk; Junior Debt Securities; Bank Loans; Non-Controlling Investments; Below-Par Securities; Distressed Investments; Litigation Finance Investments; Futures and Forward Contract Risks; Use of Leverage by the Master Fund; Use of Leverage by Portfolio Companies; Risks of Associated with Certain Dispositions; Lack of Sufficient Investment Opportunities; Projected Operating Results; Need for Follow-On Investments; Investments in Equity Securities Generally; Non-U.S. Investments; Currency Exchange Risk; Long-Term Investments; Counterparty Risk; Director Liability; The Advisor and Manager Receive Advisory Fees on the Total AUM of the Master Fund and the Manager and General Partner Receive Performance Allocations on the Net Asset Value of the Master Fund; Other Possible Risks.

The Ninepoint-Monroe U.S. Private Debt Fund is offered on a private placement basis pursuant to an offering memorandum and are only available to investors who meet certain eligibility or minimum purchase amount requirements under applicable securities legislation. The offering memorandum contains important information about the Fund, including its investment objective and strategies, purchase options, applicable management fees, performance fees, other charges and expenses, and should be read carefully before investing. Performance data represents past performance of the Fund and is not indicative of future performance. Data based on performance history of less than five years may not give prospective investors enough information to base investment decisions on. Please contact your own personal advisor on your particular circumstance. This communication does not constitute an offer to sell or solicitation to purchase securities of the Fund. 

The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Fund may be lawfully sold in their jurisdiction.

Ninepoint Partners LP: Toll Free: 1.866.299.9906. Dealer Services: CIBC Mellon GSSC Record Keeping Services: Toll Free: 1.877.358.0540