Fund database › Private Credit

BlueOrchard Impact Credit S.A. SICAV-RAIF

BlueOrchard Finance LtdLU2561044822Class I Early Bird Sh

SICAV-RAIFPrivate CreditLuxembourgSFDR Article 9accumulating2 share classes ↓
What the fund does

BlueOrchard Impact Credit lends to financial institutions and companies in emerging markets under an explicit impact mandate — as an Article 9 fund in a Luxembourg RAIF wrapper, launched in 2023, with no performance fee.

Liquidity

Monthly subscription and redemption; redemptions require roughly one quarter's notice and are hard-capped per dealing date, filled according to available liquidity. No minimum holding period.

Access

Subscription from EUR 125,000, exclusively for professional and qualified investors; not registered for distribution in Germany.

Price & return
NAV31 Aug 20261,085.32 EUR
Performance 1 year31 Aug 2026+5.2%
Since start of series p.a.Jul 2025+5.0%
Costs & risk
Ongoing costsmedian Private Credit 2.05%2.27%
Performance feenone
Access & liquidity
Minimum investmentclass I Early Bird Sh125,000 EUR
Liquidity scoreavg. 120 days to cash44medium
Redemptiongate 5% per redemption daymonthly
Recommended holding periodper key information document5 years
Compared with the asset classMedian of Private Credit funds in this database with a documented value · data run 16 Oct 2026
Ongoing costs
2.27%this fund
2.05%median
Liquidity score
44this fund
36median
Redemption
monthlythis fund
quarterlytypical
ContextEditorial

One of only two Article 9 credit vehicles in the database and the only one with a pure emerging-markets focus — the impact specialisation of the Schroders subsidiary in institutional packaging.

Figures for class I Early Bird Sh (LU2561044822) · product data 26 Sep 2026 · sources: prospectus (as at 12 Jan 2026), PRIIPs-KID, Factsheet — full list under 08 documents.

01Performance

Since the data series began in Jul 2025, the unit price has gained 5.0% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.

Class I Early Bird Sh · Net asset value (NAV) in EUR
1,085.32 EURNAV as at 31 Aug 2026Move the pointer over the line
1,0401,0601,080Jul 2025Nov 2025Feb 2026May 2026Aug 2026
YTD 2026+4.0%
1 year+5.2%
since Jul 2025 p.a.+5.0%

14 monthly values, 12 derived from monthly returns · Source: price feed / provider document · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since Sep 2023; a reliable NAV series of the class is available from Jul 2025.

02Strategy

What the prospectus permits: Direct investments in privately originated loans; global impact-credit approach

prospectus (as at 12 Jan 2026)
Launch1 Sep 2023
Fund size121 m USDas at 31 Aug 2026
Sub-strategyFinancial Institution Debt · Direct Private Debt
SFDRArticle 9
Liquid assetstarget 3%actual 4% · see 03
Leverage limit30%

Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.

03Portfolio

52 holdings; the five largest account for 18.7% of the fund. 4.0% is held in the liquidity reserve — enough for less than one month of maximum redemptions.

31 Aug 2026
Where the money is% of fund assets · 31 Aug 2026
Private markets 96.0%Liquidity reserve 4.0%

How the reserve is invested: Cash and money market funds 4.0%. It covers less than one month of the maximum net redemption (at most 60% per year under the gate) — what that means for redemptions is in 06.

Sectorsactual portfolio · 31 Aug 2026
Wholesale22.7%B2B services20.0%Agricultural value chain17.1%Consumer staples9.2%Residential5.8%Industrials & manufacturing4.6%Construction & building materials3.3%Transport & logistics3.1%Leisure, hospitality & tourism0.8%Other13.7%
Regions and structureactual portfolio · 31 Aug 2026
Caucasus 19.9%South Asia 16.7%Central Asia 16.6%Central America & Caribbean 16.3%unallocated 30.5%
52Holdings
18.7%Top 5 of NAV
4.1%largest position

Among the largest positions: 9 loans.

The five largest positions% total assets · 31 Aug 2026
  1. 1
    IIB Djiboutiloan · Financial institution (Bank) · Djibouti
    4.1%

    International Investment Bank (IIB), a commercial bank in Djibouti focused on corporate and SME lending.

  2. 2
    SCAPPloan · Georgia
    4.1%

    Borrower based in Georgia (the country), listed in the factsheet only under the short name “SCAPP.” As an impact lender …

  3. 3
    Agrovisionloan · Agriculture / Agricultural exports · Peru
    3.7%

    Agrovision is an agricultural producer and exporter with plantations in Peru, growing mainly blueberries and table grapes for international markets.

  4. 4
    Satin Finservloan · SME finance (NBFC) · India
    3.5%

    Satin Finserv Ltd is the non-bank financing subsidiary of listed Satin Creditcare Network, headquartered in Gurugram (India), specializing in loans to micro …

  5. 5
    FAMA (Financiera FAMA)loan · Microfinance · Nicaragua
    3.3%

    Financiera FAMA is a regulated microfinance institution headquartered in Managua, Nicaragua.

Positions 6 to 9together 12.4% · Vedika Credit Capital · MK Kredit IFN SA · ProCredit Bank Georgia · FinCredit
  1. 6
    Vedika Credit Capitalloan · Microfinance · India
    3.3%

    Vedika Credit Capital is an Indian microfinance institution (NBFC-MFI) based in Ranchi (Jharkhand).

  2. 7
    MK Kredit IFN SAloan · Micro/SME finance · Romania
    3.0%

    MK Kredit IFN SA is a Romanian non-bank financial institution (IFN) that lends to micro and small enterprises.

  3. 8
    ProCredit Bank Georgialoan · SME bank · Georgia
    3.0%

    ProCredit Bank Georgia is a commercial bank in Tbilisi specializing in small and medium-sized enterprises and part of the listed ProCredit Holding AG (Frankfurt am Main).

  4. 9
    FinCreditloan · Microfinance · Bosnia and Herzegovina
    3.0%

    FinCredit is a microfinance institution in Bosnia and Herzegovina that provides small loans to micro-enterprises and private households.

Portfolio credit metrics as at 31 Aug 2026

Portfolio yield10.0% p.a.Current Portfolio Yield (excl. unhedged or partially hedged deals) · gross · USD · as at 31 Jul 2025
Remaining life2.19 yearsWeighted Average Life
First lien / senior secured86.26%

Provider figures for the credit portfolio, not calculated by semiliquid.info. Providers report yield, remaining life and credit ratings under differing definitions — the basis of calculation is therefore shown with every figure. A comparison across funds only holds where the basis is the same.

Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.

04Costs

With ongoing costs of 2.27%, class I Early Bird Sh is above the median of the asset class (2.05%). There is no performance fee.

PRIIPs-KID I Early Bird Sh
Ongoing costsper year, % of unit value
  • Total ongoing costs2.27%
  • of which management fee1%
  • Performance fee0%
  • Hurdle ratenot documented
  • High-water markno
2.27%this fund
2.05%median Private Credit

For 125,000 EUR this means roughly 2,838 EUR per year.

One-off costsmaximum per prospectus
  • Entry charge (for distribution)up to 5%
  • Redemption feeup to 5%

For 125,000 EUR, a one-off up to 6,250 EUR on purchase and up to 6,250 EUR on redemption.

  • Several layers of fees possible. n/a - presumably fund level only (direct lending), in line with the BlueOrchard platform; not documented

Based on the PRIIPs key information document of class I Early Bird Sh, hence comparable across providers. Median: 32 Private Credit funds in this database, data run 16 Oct 2026.

05Subscription

Units can be subscribed monthly. The price is the NAV on the valuation day — it is not known when the order is placed and is published only 7 business days later.

calculated on —
Next subscription cycleValuation day — · calculated on — Your step Fund-internal
  1. Documents complete
    before the cut-off
  2. Order cut-off
    17:00 CET

    the Board may, at its absolute discretion, still admit subscriptions received later to …

  3. Valuation day
    —T

    Price = NAV per share on this day.

  4. NAV published
    —T+7 BD

    NAV available no later than 7 business days after the Valuation Day …

  5. Payment due
    —NAV+10 BD

    after NAV publication: 10 business days after Valuation day

An order placed today is invested in — days (—); the money is due on —.

Shown without a date because the prospectus does not quantify: cut-off. The remaining markers are calculated from the prospectus rules.

Before placing the orderwhat can delay, add cost to or scale back the subscription
  • Payment: after NAV publication. Subscription deferred; issue only on the next Dealing Day following receipt of funds in full, at the price then applicable
  • Clarify the share class first. USD 125,000 · Entry charge (max.): 5%
  • Number of units is fixed later — 100,000 EUR at the latest NAV (1,085.32 EUR, 31 Aug 2026) would equal roughly 92 units.
All prospectus details on subscription10 items · incl. procedure, KYC, business-day definition
Frequencymonthly
Procedurefully paid-in
Valuation daylast business day of the month
Cut-off17:00 CET · (counted from month-end)
Pricevaluation day
NAV publicationNAV available no later than 7 business days after the Valuation Day (= last business day of the month)
Paymentafter NAV publication: 10 business days after Valuation day
Minimum investmentUSD 125,000
Entry charge (max.)5% (Fund)
Business dayany day on which banks are open the whole day for non-automated business in the Grand Duchy of Luxembourg (p. 15)

Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 26 Sep 2026 · Documents: 08.

06Redemption & liquidity

Units can be redeemed monthly — with a volume limit (Gate), lock-up 24 months. How quickly the money arrives and what happens if many want out at once is set out below.

calculated on —
Next redemption cyclePricing date — · calculated on — Your step Fund-internal
  1. Request by cut-off
    —17:00

    Initial Period = until the first Redemption Cut-off after the 2nd anniversary of the initial subscription …

  2. Pricing date
    —T

    NAV per unit less redemption fee (up to 5%)

  3. Gate check
    on the pricing date

    After the end of the Initial Period a hard redemption limit of 5% of the company's net asset value applies …

  4. NAV published
    —T+7 BD
  5. Payout
    —T+10 BD

    redemption day

A request made today is paid out on — — — days; from the cut-off to cash it is — days.

Liquidity scoreHow quickly can you get your money out, according to the prospectus?
44/100medium

Money typically within half a year — on average 120 days from decision to cash.

Rank 15 of 112 · rank 5 of 31 in Private Credit · no lock-up · no fixed redemption fee

one dot = one fund (112, view as of today) · ● Private Credit · ● other asset classesMedian of all funds: 29
And if many want out at the same time?
  • At most 5% of NAV on the redemption day per redemption day can be redeemed. In addition: during the initial period (2 years): redemptions only up to the amount of subscriptions on the same dealing day.
  • Carried forward automatically to the next dealing day.
  • No history yet — fund since Sep 2023; no redemption period under pressure documented. The reserve covers less than one month of maximum redemptions (03).
  • The prospectus does not say how long a suspension may last.
  • Swing pricing of up to 5% possible — not included.

Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 12 Jan 2026 · score run 16 Oct 2026 · How 120 days become 44 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.

All prospectus details on redemption14 items · incl. grounds for suspension, in-kind redemption, transfer, compulsory redemption
Characterredemption right
Frequencymonthly
Valuation daylast business day of the month
Notice90 calendar days before redemption day · 17:00 CET
Pricevaluation day
Payout10 business days after redemption day
Gate5% of NAV on the redemption day per redemption day; during the initial period (2 years): redemptions only up to the amount of subscriptions on the same dealing day
Scaled-back portioncarried forward automatically to the next dealing day
Redemption fee (max.)up to 5% (discretionary)
Lock-upfund-level, 24 months (fund launch)
Suspensionexchange closure; valuation impossible; Redemption Limit reached
Liquidity toolsGate 5%; carry-forward pro rata; suspension; Dilution Levy up to 5% on subscription; redemption fee up to 5%
Switch / transferpermitted only with the consent of the Board; a Matched Bargain may be arranged by the Board
Compulsory redemptionThe Board may compulsorily redeem shares held by Prohibited Persons and non-eligible investors

After the end of the Initial Period a hard redemption limit of 5% of the company's net asset value applies per monthly redemption date. Where the limit is reached or liquidity is insufficient, all requests are met pro rata; the remainder is deferred to the following dates and ranks equally there until it has been met.

The gate is expressly defined in the Offering Memorandum as a ratio of the company's net asset value (5% per monthly redemption date after the end of the Initial Period); excess requests are scaled back pro rata and deferred to the following dates.

Dates calculated from the prospectus rules (bank holidays: LU); only the transfer agent’s confirmation is binding. Data as at 26 Sep 2026 · Documents: 08.

07Share classes

2 classes. All cost and risk figures on this page refer to the basis class I Early Bird Sh.

1 of 2 classes with a key information document
ISINClassCurrencyIncomePRIIPs KIDMinimum investmentMgmtOngoing costs
LU2561044822I Early Bird ShbasisEURaccumulating✓125,000 EUR1%2.27%
LU2561045985S Early Bird Shares EURUSD——10,000,000 USD——

PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.

08Master data & documents

Who is behind the fund, where it may be distributed — and which documents were evaluated.

AIFM / ManCoBlueOrchard Asset Management (Luxembourg) S.A.
DepositaryBanque de Luxembourg S.A.
Investor baseprofessional investors only
Distribution authorisationThe units are reserved exclusively for Eligible Investors or Well-Informed Investors within the meaning of the Luxembourg RAIF Law.
DomicileLuxembourg
Legal wrapperSICAV-RAIF
Fund currencyUSD
BaFin marketing notificationno entry in the BaFin fund database
Documents evaluateddata as at 26 Sep 2026
DocumentAs atUsed for
Factsheet / monthly report
Investor Update Class I Early Bird Shares, 30 Jun 2026
30 Jun 2026—
NAV series
price feed / provider document
31 Aug 2026Performance (01)
Positions and reserve31 Aug 2026Portfolio (03)

All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.

Frequently asked questions about the BlueOrchard Impact Credit S.A. SICAV-RAIF

How quickly can I get out of the BlueOrchard Impact Credit S.A. SICAV-RAIF?

Redemption monthly, notice period 90 calendar days before redemption day, with 5% gate per redemption day. Subscribing today, it takes on average 120 days from decision to cash under the prospectus deadlines; a gate is not factored in.

What does the BlueOrchard Impact Credit S.A. SICAV-RAIF cost per year?

Ongoing costs of 2.27% p.a. according to the PRIIPs KID for class I Early Bird Sh; the median of the Private Credit funds in this database is 2.05%; no performance fee.

What is the minimum investment in the BlueOrchard Impact Credit S.A. SICAV-RAIF?

125,000 EUR in class I Early Bird Sh.

Can I buy the BlueOrchard Impact Credit S.A. SICAV-RAIF as a retail investor in Germany?

Not as a retail investor. According to our evidence, in Germany it is open only to professional and institutional investors (as at 5 Oct 2026). The Access check shows the details.

Is the BlueOrchard Impact Credit S.A. SICAV-RAIF currently gated?

As at 16 Oct 2026, no redemption restriction is documented for the BlueOrchard Impact Credit S.A. SICAV-RAIF. Under the prospectus a gate of 5% per redemption day applies.

Similar funds

Same asset class, similar sub-strategy.

Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.

Important notes. semiliquid.info does not provide investment advice or any recommendation to buy, sell or hold fund units; no ranking, no offer, no solicitation to subscribe. Only the prospectus and the key information document (PRIIPs KID) of the respective fund are authoritative. We accept no liability for the accuracy, completeness or timeliness of the information. Semi-liquid funds invest in illiquid assets: redemptions are restricted and may be capped, deferred or suspended; there is a risk of total loss. Past performance is not a reliable indicator of future results. Read the prospectus and KID before any investment decision and seek professional advice where appropriate.