Private Credit / Business Relief
PMJ Private Credit Fund
A specialist private-credit proposition for eligible investors in inheritance-tax and Business Relief planning.
Area of expertise
Private credit
Access to specialist opportunities in privately originated lending, arranged outside public credit markets.
Overview
Overview
Private credit describes lending arranged directly between a lender and a borrower rather than through public bond markets. The return comes from interest paid by borrowers, and the risk sits with the borrower's ability to repay and with the quality of the security held.
Because there is no daily market price, the discipline is entirely in origination and underwriting: who is being lent to, on what terms, secured against what, and who ranks first if matters go wrong.
New Walk examines private credit propositions structurally before they are discussed with advisers. [Specific strategies, terms and target returns are set out only in approved provider documentation.]
Considerations
What matters in practice
The points below are the ones that tend to decide outcomes, and the ones worth putting to any provider.
Origination quality
The strength of a lending book is determined at the point loans are written, not afterwards.
Security and ranking
First-charge security ranks ahead of other claims; understanding ranking is central to assessing downside.
Loan-to-value discipline
Headroom between the loan and the value of the asset is what absorbs a fall in valuations.
Borrower concentration
A small number of large exposures behaves very differently from a diversified lending book.
Liquidity terms
Private lending is generally illiquid. Redemption terms should be read rather than assumed.
Default and recovery
Arrears happen in every lending book; what matters is the recovery process and its track record.
Support
How New Walk helps
Support is practical and specific rather than promotional. The aim is that an adviser can explain a proposition, and their reasoning, without relying on the provider's marketing language.
Explaining how a lending strategy originates, secures and monitors its loans.
A structured question set for lender due diligence, including arrears and recovery history.
Clear separation of what is contractual, what is targeted, and what is simply hoped for.
[Provider-specific performance and portfolio data to be supplied from approved documentation.]
Related
Related specialist solutions
Propositions that relate to this area. Each is information only and is intended for eligible and experienced investors.
Alternative Investment / Property Finance
Carlton Bonds
Fixed-rate investment supporting UK property lending and development finance for eligible experienced investors.
New Walk Consulting works with a carefully selected group of specialist providers. The propositions shown are not ranked and no proposition is presented as more suitable than another. Suitability depends upon individual circumstances. Capital at risk — the value of specialist investments can fall as well as rise and investors may not get back the amount invested. Tax treatment depends upon individual circumstances and may change. These propositions are intended for eligible and experienced investors only.
Also relevant
Other areas of expertise
Most client situations touch more than one of these.
Private Credit
Access to specialist opportunities in privately originated lending, arranged outside public credit markets.
Alternative Investments
Carefully selected opportunities that sit outside mainstream listed markets and conventional fund ranges.
Expatriate Wealth
Clarity on the additional UK and overseas considerations facing internationally based clients and families.
Talk it through with Andrew.
Enquiries come to Andrew directly. There is no obligation and no product pitch at the first conversation.
Important information
This page is information only and is not advice, a personal recommendation, or an offer or invitation to invest. Capital at risk. Tax treatment depends upon individual circumstances and the relevant legislation, which may change.