Fund’s first closing attracted over $50 million in subscriptions
Canadian accredited investors can participate in a new private credit fund from asset manager Sagard that officially opens today (September 10).
The Sagard Private Credit Fund’s first closing attracted over $50 million in subscriptions and has been launched in partnership with global alternative assets fintech iCapital.
The evergreen credit investment fund will invest in a diversified portfolio of private credit investments, primarily private loans originated by Sagard with adjustable interest rates and first repayment priority, together with more liquid credit investments.
The fund will provide loans to private middle-market companies with the interest payments it receives from these loans generating income with net proceeds paid as distributions to investors. Sagard says the indicative annual net return will be in the range 9-10%.
"With over two decades of experience investing in private credit, our team is confident in the fund’s potential as a high-return, low-volatility option for our clients," said Adam Vigna, co-founder and chief investment officer at Sagard.
Subscription to the fund via financial advisors is on a monthly basis with quarterly redemptions and the fund is eligible for registered plans including RRSPs, TFSAs, RESPs, and more.
"We are thrilled to extend our firm’s investing expertise to a broader segment of investors," said Paul Desmarais III, Chairman & CEO of Sagard. "The Sagard Private Credit Fund is a testament to our commitment to innovation. If it suits their portfolio needs, we hope many new investors join us through this evergreen product offering."
