Sydney, 10 December 2021 – Foresight Analytics rates Altive Access Fund
Foresight Analytics has completed a ratings assessment of Altive Access Fund (the Fund), which is managed by Altive Limited (Altive) and Carlyle Global Credit Investment Management L.L.C. (Carlyle). The Fund has been assigned a STRONG Investment Rating and a Foresight Complexity Indicator of MORE COMPLEX.
A STRONG rating indicates a strong conviction that the fund can deliver a risk-adjusted return in line with its investment objective. A complexity indicator of MORE COMPLEX reflects the illiquidity of investments in both the Feeder Fund and the Underlying Trust, making this a more complex investment option.
The Altive Access Fund is an unregistered wholesale unit trust with a feeder fund structure. It has an investment objective to invest substantially into common shares of beneficial interest of Carlyle Secured Lending III (shares) and an underlying trust that is managed by Carlyle. Carlyle is a very large player in the global secured debt lending market, being responsible for managing over US$290 billion across its various portfolios and investment vehicles.
The investment objective of the underlying trust is to generate current income and, to a lesser extent, capital appreciation primarily through secured debt investments with favourable risk-adjusted returns. The investment strategy of the underlying trust is to extract enhanced yield from a directly originated and defensively constructed portfolio of credit investments. The strategy’s core focus is US middle market cash flow finance, principally in companies with approximately US$25million to US$75 million of earnings before interest, taxes, depreciation, and amortization supported by financial sponsors. This core strategy is supplemented with complementary specialty lending and opportunistic investing strategies.
Foresight Analytics’ analyst, Natasha Quirk, says “the rating reflects the breadth and depth of Carlyle in originating, underwriting, and managing private debt investments across the United States and European markets”. She added, “investment in the Fund is considered more complex as the general nature of an investment in the Feeder Fund is high risk, with no guarantee of the achievement of return objectives or liquidity for redemption requests provided by the Trustee or the Fund Manager”.
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Media Contact – Foresight Analytics
Natasha Quirk, Analyst
02 8883 1369
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Foresight Analytics, an independent Sydney based firm, provides investment diligence, data analytics, and advisory solutions to leading investment management companies, superannuation funds and wealth groups across the Asia Pacific. Foresight’s innovative, evidence-based approach blends both human and forensic insights to provide a range of analytical, predictive and market intelligence solutions to investors. Foresight Analytics was founded in 2015 by Jay Kumar, a former executive of Morningstar, Optimix Investment Management, ANZ Wealth & Private Bank and the Reserve Bank of Fiji.
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