Private Credit

Helping private credit managers unlock global insurance and institutional investor capital through bespoke fund structuring advice.

PRIVATE CLO & RATED NOTE FEEDER SOLUTIONS FOR PRIVATE CREDIT MANAGERS

The private credit asset class continues to mature and specialize, with the U.S. market representing over $1 trillion of assets under management. “Private credit” itself, meanwhile, describes a broad array of specific strategies, such as direct lending, asset backed finance and infrastructure debt, among others. FFP helps private credit managers unlock global insurance investor capital with its hands-on structuring and product development services, including rated note feeders and funds, private CLOs and other structured fund solutions.

WHY PRIVATE CLOs AND RATED NOTE FEEDERS MATTER

In today’s competitive fundraising environment, alternative lenders and private debt managers need more than capital — they need repeatable, scalable capital solutions that attract the right investors on the right terms.

Private CLOs

Deliver efficient, matched-term leverage to enhance returns and manage portfolio liquidity in commingled and fund-of-one formats.

Rated Note Feeders

Create an investable, NAIC-friendly entry point for insurance companies, pensions, and yield-focused institutions alongside new or existing investment vehicles.

Rated Note Funds

Similar to Rated Note Feeders, but standalone without relying on another investment vehicle, allowing sponsors to meet investor demand in real time.

RBC Charge Optimization

SPV fund structuring paired with fund finance tools allowing RBC-sensitive investors to meaningfully reduce effective RBC charges for below-investment grade assets.

Collateralized Fund Obligation

Offers long-term capital efficiency solution and access to range of assets, enhancing diversification and potential for returns.

These structures aren’t just financing tools — they’re catalysts for growth, investor diversification, and strategic flexibility.

WHY CHOOSE FFP ?
Proven Experience

Over nearly $2 billion in structured fund solutions for leading alternative managers, including mandates for sponsors ranging from $1 billion to $1 trillion in AUM, across lower middle market direct lending, mezzanine debt, middle market private credit and infrastructure debt (where publicly disclosable).

Award-Winning Expertise

Proud 3-time winner of the Private Equity Wire U.S. Award for Best Fund Financing Solution (2022, 2023, 2024).

Independence & Alignment

We work solely in our clients’ interests — no conflicts from lending desks or internal underwriting. Structured fund solutions engagements command our senior-most professionals’ dedication.

Speed & Precision

From the conceptual stage in front of the whiteboard through post-closing upsizes, we are proactive every step of the way. Real-time investor sentiment, market trends or inefficiencies, credit rating durability and looking around corners to make structured fund development as efficient as possible.

Our Approach
1 Structuring & Ratings Advisory
  • Capital structure and fund terms designed with your investment strategy and capabilities in mind, alongside your target investor profile
  • Rating agency engagement & credit story positioning to derive a marketable opportunity that is also credit ratings resilient
  • Positioning alternative or “fallback” terms in anticipation of emerging investor preferences, without going back to the drawing board
2 Capital Raising & Placement
Support
  • Coordination of outreach to investors and lenders, broadening your audience of familiar capital partners with our longstanding relationships with insurance companies, bank treasuries, pensions, opportunistic credit investors, family offices and other structured fund capital sources
  • Partnership with placement agents where strategically beneficial
  • Investor education materials, data room management, roadshow coordination, and Q&A support
3 Execution & Closing Support
  • Oversee negotiations among all constituencies in a way that maximizes your addressable market without compromising the capital structure and terms already “baked”
  • Liaise with both sponsor and investor counsel in a time- and cost-conscious manner, thanks to FFP leadership’s robust in-house and top-tier law firm experience
  • Closing documentation and deliverable oversight to ensure on-time, on-terms completion with attention to detail
Recent Mandates
Credit Fund Facilities

Asset-based leverage (“ABL”) facilities are nearly ubiquitous among private credit funds (including among direct lending, asset-based and other credit strategies). FFP has arranged numerous ABLs for private credit funds, public and private BDCs, interval funds, rated note feeders / funds, private CLOs, specialty finance companies and SMAs. Lenders have included a variety of US- and non-US depository institutions and investment banks, insurance companies and alternative credit providers.

REPRESENTATIVE SAMPLE OF FFP
ENGAGEMENTS
Structured Fund Solutions

FFP has the experience, expertise and long-standing relationships with the ratings agencies, insurance investors, lenders and law firms to lead the structuring and arrangement of structured fund solutions for sponsors managing direct lending, asset backed credit, real estate debt, specialty finance and esoteric credit strategies.

REPRESENTATIVE SAMPLE OF FFP
ENGAGEMENTS
INSIGHTS

Insurance Companies in Fund Finance

Rated Note Structured in Private Credit

Structured Funds and Rated Note Feeders

Precedent Rated Note Issuances

READY TO EXPAND YOUR CAPITAL BASE?

Let’s discuss how structured fund solutions can work
for your investment strategy and capabilities.

Schedule A Consultation