iPartners Investment Fund rated "Commended" by Evergreen
Alternatives research firm Evergreen Ratings has given private credit fund iPartners Investment Fund a "commended" rating, noting a structure that (appropriately) provides liquidity to an inherently illiquid asset class as one of the reasons for the rating.
Evergreen says that the fund - one of the largest non-institutional private credit funds in Australia - targets returns of 8-10 per cent and posted a first-year return of 9.71 per cent net of fees.
"[It] excels in the Australian private debt peergroup both in relation to risk-adjusted returns and, related to this, collateral protections, particularly with respect to ABS lending,” Evergreen said in its report.
“Returns, at 9.7 per cent per annum since inception, are strong due to a high degree of crystallisation of two of the three private debt premia components, specifically a complexity and supply/demand premium."