Our Alternative Credit strategy focuses on senior secured lending to middle-market companies and specialty finance assets. We target 12-16% IRRs through direct origination relationships and rigorous credit underwriting, emphasizing capital preservation through first-lien positions.
The mandate emphasizes downside protection via strong covenant packages, diversified industry exposure, and active portfolio monitoring to minimize default risk while capturing attractive risk-adjusted yields.
Bilateral relationships with sponsor-backed and private companies, avoiding syndicated market inefficiencies and intermediary costs.
First-lien positions with asset-based collateral providing downside protection and priority recovery in distress scenarios.
Strict maintenance covenants and financial reporting requirements enabling early intervention before credit deterioration.
Targeted exposure across healthcare, software, business services, and specialty finance to mitigate industry-specific risk.
Aptila's credit mandate focuses on non-correlated yield generation through disciplined underwriting and structural protections.
We conduct detailed historical and projected cash flow modeling, stress-testing across downside revenue scenarios to ensure debt serviceability.
Third-party appraisals and liquidation value assessments ensure adequate asset coverage with conservative advance rates.
Loan agreements include maintenance covenants, equity cure rights, and event-of-default triggers protecting lender interests.
Our Alternative Credit mandate prioritizes capital preservation and current income generation. Through senior positioning and conservative underwriting, we target mid-teen IRRs with minimal principal impairment.
Institutional Governance
Initiating a dialogue with Aptila provides access to our systematic risk-parity models and quarterly mandate disclosures.
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