 $2B+ total issuance · 1,000+ deals syndicated · 10+ asset classes across 14 countries |
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Not the private credit you've been reading about. In Q1 2026, non-traded BDCs faced the first industry-wide synchronized gating event: $20.8B in redemption requests, with most investors receiving roughly half of what they asked for (per individual fund disclosures). Moody's revised the U.S. BDC sector outlook to Negative for the first time in two years. Investors who thought they owned liquid private credit found out otherwise. On Percent's marketplace: new issuances, zero charge-offs, no quarterly redemption gates. Business as usual. |
Against the benchmarks Private credit belongs alongside bonds and credit in a portfolio, not in the equity sleeve. Against those benchmarks, the numbers aren't close.Percent's asset-based performance: 14.6% net returns after losses (LTM, ABS)* · 0.44% net loss rate since inception (ABS)
The S&P 500 outperformed (shown for market context), but it also swung double digits on tariff headlines and AI repricing. Percent's ABS deals kept paying scheduled cash flows throughout. *Past performance is not indicative of future results. Investing involves risk, including potential loss of principal. |
The difference Gated redemptions, lock-ups, opacity. The private credit crises in the headlines share a common cause: institutional products sold to an audience they weren't built for.
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Traditional Private Credit Funds |
Percent |
| Lock-up period |
5–10 years |
6–24 month deal durations |
| Redemptions |
Often gated — you may not be able to exit |
Secondary market — list a position before maturity |
| Pricing |
Mark-to-model (black box) |
Dutch auction — real price discovery |
| What you see |
Commingled fund, no deal-level visibility |
Full borrower documentation before you commit |
| Minimum |
$500,000+ |
Starting at $500 |
| Underlying assets |
Concentrated corporate loans |
84%+ asset-based, diversified pools* |
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What makes it work
TRANSPARENCY Deal-Level Transparency Every deal comes with the full borrower file: financials, collateral structure, deal history, and risk factors for that specific transaction. You see the collateral and watch the live order book before putting in a dollar. Prices come from a Dutch auction, not a manager's internal model. |
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LIQUIDITY Short Durations Most deals run 6–24 months. If you need out early, Percent's secondary market lets you list a position before maturity at a market-discovered price. Visible order books. No fund manager deciding whether your redemption request gets honored this quarter — price discovery happens in the market. |
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DIVERSIFICATION — FROM $5,000 Blended Notes A curated portfolio of asset-based deals in a single note. This month's theme: global, asset-based, medium-term. 12.21% net coupon (current eligible deals, net of all fees and cash drag).* Single 1099. |
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FOR INSTITUTIONS & RIAS Separately Managed Accounts Institutional-grade portfolios built to your mandate: three model strategies from $50,000, or a fully customized build from $250,000. Percent sources, allocates, and monitors. You set the parameters. Request a Meeting → |
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As featured in The Economist, Bloomberg, and Forbes.
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Total issuance and deal count figures are cumulative across all deal types originated on or through the Percent platform since inception. 84%+ figure reflects asset-based deal composition as of Q1 2026. ABS coupon ranges are indicative based on weighted historical issuance; each deal is offered separately on percent.com and terms vary. Blended Note coupon reflects the current portfolio as of May 2026, net of all Percent management fees and cash drag. ABS net return figures reflect the trailing twelve months ending March 31, 2026, calculated as interest payments minus charge-offs on ABS deals, divided by average AUM; net return after losses: 14.6%; net return after losses and fees: 13.7%. Net loss rate is realized losses net of recoveries divided by total cumulative ABS principal originated since inception, as of 3/31/26. Past performance is not indicative of future results. Alternative investments are speculative and involve a high level of risk. No assurance can be given that investors will receive a return of their capital. Investments in private placements are highly illiquid; investors who cannot hold for an indefinite term should not invest. Secondary market transactions are subject to availability, matching of counterparties, and issuer approval; liquidity is not guaranteed. This email is for informational purposes only and does not constitute investment advice. Available to accredited investors only. Securities offered through Percent Securities, LLC, member FINRA/SIPC. Blended Notes and separately managed accounts are advisory products offered through Percent Advisor LLC, a registered investment adviser; advisory fees apply. |
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