Private Credit Funds
PRIVATE CREDIT FUND ADMINISTRATION & OPERATIONAL SUPPORT
Supporting credit strategies with integrated operations, treasury, accounting, and investor solutions designed for the demands of modern private capital vehicles.
Private credit is no longer an ancillary strategy — it’s a core capital channel shaping deal flow, portfolio structuring, and investor expectations. Catalyst provides dedicated fund administration and operational support that is purpose-built for private credit — whether direct lending, hybrid vehicles, specialty finance, or structured credit products.
Our services go beyond periodic reporting. We help managers navigate:
blended cash cycles
interest and amortisation accounting
covenant and coverage monitoring
multi-sleeve capital structures
integrated treasury and reporting workflows
cross-jurisdictional operations
With an institutional mindset, technology-driven workflows, and high-touch execution, our team helps you run credit products with precision and clarity.
Why Private Credit Requires Specialized Support
Private credit introduces unique operational requirements that differ from traditional private equity or real estate vehicles:
Blended Cash and Valuation Cycles
Credit funds generate recurring cash flows and interest events that must be accurately accrued and reflected in NAV — often monthly or more frequently. Effective interest, amortisation, prepayments, and fee schedules all require structured systems and controls.
Capital Structure Complexity
Multi-sleeve vehicles — particularly hybrids combining credit and equity components — necessitate detailed capital account tracking, blended rates, and flexible waterfall mechanics.
Treasury Intensity
More frequent cash events create new treasury demands. Efficient funding of loan disbursements, syndicate commitments, repayment tracking, and cross-border settlements is critical to operational integrity.
Investor Expectations
LPs increasingly expect loan-level transparency, yield attribution, risk metrics, and regular updates that go beyond traditional quarterly reporting.
Our Private Credit Solutions
Catalyst offers a comprehensive suite of services tailored specifically to private credit and hybrid credit strategies:
Fund Onboarding
- Project Management – Prepare and manage a detailed onboarding project plan
- Fund & IM KYC – Collect and verify Investment Manager and Fund KYC
- Fund Documentation Review – Legal review and alignment of Fund Documents (OM/PPM/Sub Doc)
- Banking & Treasury Onboarding – Assistance with the opening of the fund bank account through one of Catalyst’s banking partners as required.
- Counterparty Alignment – Establishing operational alignment with internal and external fund related parties.
Investor Onboarding
- Investor KYC – Collection and review of all investor KYC in accordance with regulatory requirements.
- Investor Subscriptions – Collation and review of all initial/current investor subscription documents.
Fund Accounting
Net Asset Value (NAV) Calculation – Monthly NAV production aligned with credit cash cycles, incorporating interest accruals, amortisation, paydowns, prepayments, and valuation adjustments.
Interest & Yield Accounting – Calculation and maintenance of interest accrual schedules (including PIK where applicable), effective yield analysis, and amortisation tracking across instruments.
Income & Expense Recording – Accurate recording of recurring income streams, expense accruals, and fee allocations.
Capital & Allocation Mechanics – Management of multi-sleeve capital structures, including blended equity and credit allocations, preferred returns, waterfall calculations, and hybrid distribution models in accordance with fund documentation.
Loan-Level & Portfolio Reporting – Maintenance of loan-level data, including principal outstanding, payment history, accrual status, and exposure tracking.
Valuation & Impairment Support – Support for credit valuation processes, impairment assessments, and periodic portfolio reviews.
Management & Performance Fee Calculations – Calculation of management and incentive/performance fees, including credit-specific fee models where applicable.
Financial Reporting – Preparation of financial schedules including balance sheet, income statement, statement of cash flows, partners’ capital, and detailed schedule of investments.
Investor-Level Reporting – Financial and portfolio reporting completed at investor level, including income allocation and capital account movements.
Audit Support – Assistance with annual audit processes and accounting-related queries.
Investor Services
KYC & Due Diligence – Collection and maintenance of AML/KYC documentation with ongoing risk reviews.
Capital Activity Management – Management of capital calls (where applicable), distributions, yield payments, redemptions, and investor notices in accordance with fund documentation.
Capital Account Maintenance – Detailed tracking of investor-level allocations, income distributions, capital balances, and transfers.
Reporting & Communication – Distribution of investor communications, financial statements, and credit-focused reporting packages including yield and exposure summaries.
Investor Queries – Timely handling of investor queries and requests for portfolio-level transparency.
Governance Support – Coordination of director resolutions and audit assistance as required.
Treasury Services – Credit-Driven Cash Cycles
Bank Account Oversight – Administration and oversight of fund bank accounts with secure access controls.
Payment Processing – Processing of fund-related expenses, interest payments, amortisation settlements, and portfolio-level disbursements in accordance with authorised instructions.
Capital & Distribution Wires – Execution of capital call funding, income distributions, redemptions, and cross-border transfers.
Cash Reconciliation & Monitoring – Ongoing reconciliation of treasury activity to support more frequent credit-related cash cycles.
Automatic Exchange of Information Services (AEOI)
- Fund Registration – Registration with the IRS for a GIIN as well as notification to the local tax authority. Cayman funds are required to register for a GIIN under US FATCA and register for reporting purposes with the local tax authority.
- AEOI Compliance – Investor on-boarding and ongoing compliance / maintenance. Funds are required to on-board new investors in accordance with local regulations, as well as implement a compliance program around monitoring those accounts. The fee applies to implementation of this program and annual monitoring for any change in circumstance. Summary reports will also be provided.
- AEOI Reporting Services – Fund registration, appointment of a responsible officer, principal point of contact/responsible officer, and report filing.
- Authorizing Person – Designation of a named person whose sole responsibility is to notify the Tax Information Authority (TIA) of a change in Principal Point of Contact (PPoC)
Corporate Middle Office Services
- Registered Office/Agent – Provision of a physical address, for Cayman Islands companies and limited partnerships, ensuring proper maintenance of the entity’s records and registers, including paying annual fees in a timely manner.
- Filings, Obtaining Certificates and Document Certifications/Notarizations – Notary services including but not limited to Document Notarizing, Attestation Services, Apostille Processing, Document Legalisation and certified documents. Catalyst also assists with and acts as an official intermediary between the client and the Cayman Islands Government with regards to any necessary filing related to the entities.
- Counter-party Account Liaison and Opening – Assist the clients with the completion of the necessary paperwork to open brokerage, trading, or custody accounts.
- Identification Number Registrations – Obtaining any required identification number for the entities/Funds (ISIN, LEI, BBG Ticker, etc.)
- Corporate Secretarial Assistance and Board Support – Coordinate the reporting and attendance of all stakeholders, which results in clear and reliable board packs. Our qualified team will attend the meetings and, if required, take minutes, and ensure all decisions are recorded, as necessary. Post meeting, our clients are assured of timely drafting and circulation of minutes and all necessary follow-up on action points to ensure your company is in good standing.
Annual Audit Assistance and Financial Statement Preparation
- Financial Statement Preparation – Preparation of the fund’s annual financial statements per the fund’s year-end and accounting standards (IFRS / US GAAP) – Including audit footnotes.
- Audit Liaison – Liaising with the fund’s appointed auditors in their review and/or preparation of the fund’s annual financial statements.
Built for Modern Credit Managers
At Catalyst, we understand the operational challenges that private credit presents — from deal pipeline to portfolio management. Our approach combines:
High-quality client service with dedicated relationship professionals
Integrated technology workflows for visibility, automation, and accuracy
Scalable solutions that grow with your strategy
Multi-jurisdictional expertise — from the U.S. to Cayman to LatAm
Our team helps you reduce operational friction, enhance transparency, and deliver consistent reporting excellence.
PRIVATE CREDIT TEAM
Our specialists in private credit are equipped with extensive knowledge to help you navigate the landscape. Get in touch with one of our experts to see how we can curate a solution that provides a full suite of services designed to enable you focus on the things that really matter.
We do things differently.
We do things better.
WHAT DOES BETTER LOOK LIKE?
The world of investment, of managing money, and in some instances, the very concept of ‘money’ is evolving at a phenomenal pace. Yet our industry is saturated with legacy systems, manual processes, and fragmented client service experiences. Financial services firms are being outpaced by their clients, inhibiting their ability to innovate and deliver the investor experience they aspire to.
We’ve found the opportunity in the paradox.
We are creating a spark in the industry by embracing innovation, automation, and high-quality, personalized client experience to deliver a service that enables our clients to succeed in a multi-jurisdictional setting.