Fund database › Private Credit
The credit counterpart to CVC's PE strategy: European mid-market direct lending with conservative leverage on the target companies, as a Luxembourg SICAV, launched in 2024, with a distribution profile.
Monthly subscription; quarterly redemption with roughly one month's notice and a quantified quarterly gate — expressly not guaranteed; redemptions in the first year incur a fee. The recommended holding period is eight years.
The main share class covered here carries a high institutional entry threshold; depending on the country, classes for professional and retail investors exist. Not registered for distribution in Germany.
CVC's credit offshoot completes the pattern of the large houses — PE and credit evergreens from a single source; within the credit field it positions itself through conservative credit selection, not through liquidity or access advantages.
Figures at fund level · product data 25 Sep 2026 · sources: prospectus (as at April 2026 (file 13 Apr 2026); 8 Jul 2025), PRIIPs-KID — full list under 08 documents.
distribution policy not verified
1 monthly value · 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.
What the prospectus permits: Privately negotiated, floating-rate senior secured loans to European companies: first lien, unitranche and selectively second lien/mezzanine; in addition a liquidity sleeve of broadly syndicated senior secured loans, bonds and structured credit
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
323 holdings; the five largest account for 38.2% of the fund. 14.0% is held in the liquidity reserve — enough for 8 months of maximum redemptions.
How the reserve is invested: TeamSystem S.p.A. 0.5% · CPUK Finance Limited 0.4% · Althea Acquisition Bidco S.à r.l. 0.4% · 7 more 2.7%. It covers 8 months of the maximum net redemption (at most 20% per year under the gate) — what that means for redemptions is in 06.
Focus according to fund documents: Diversified, no sector breakdown 100%
Focus according to fund documents: Europe 90%, Other / unallocated 10%
Among the ten largest: 10 loans.
Datheos BidCo SAS (Paris) is the acquisition vehicle through which the Cinven VIII fund takes control of TopSky SAS, the parent company of the Artefact group.
UK holding and financing company within the capital structure of Paymentsense (Dojo brand) …
WebPros provides software for web hosting automation and server management, with products such as cPanel, Plesk and WHMCS used by hosting providers, agencies and developers worldwide.
UK acquisition company (Bidco) of a sponsor-backed media and production business (category "Media: Diversified & Production").
Paisley Bidco is the Guernsey-registered acquisition company of PIB Group, a UK insurance broking and insurance services group with operations in the United Kingdom …
Luxembourg holding company of the Altano group, a German network of equine clinics and veterinary practices with locations in several European countries.
Blue Bidco Limited is the UK acquisition company of a telecommunications business from a sponsor buyout.
Financing company (BV) of a Belgian business services provider (category "Services: Business") acquired in a sponsor-led buyout.
Italian holding company in animal health focused on veterinary services, such as operating veterinary clinics and practices, and controlled by a financial sponsor.
Babylon Finco Limited and Babylon US Bidco Inc. are UK and US financing and acquisition companies from the sponsor buyout of a media or content production company.
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.
With ongoing costs of 1.95%, the main class is below the median of the asset class (2.05%). On top comes a performance fee of 10% above a hurdle of 5% — without a high-water mark.
For 10,000,000 EUR this means roughly 195,000 EUR per year.
For 10,000,000 EUR, no charge on purchase and up to 200,000 EUR on redemption.
Cost figures of the main class according to provider documents. Median: 32 Private Credit funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV on the valuation day — it is not known when the order is placed.
Price = NAV per share on this day.
pre-funding: 3 business days before dealing day
An order placed today is invested in — days (—); the money is due on —. Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
Shown without a date because the prospectus does not quantify: NAV publication. The remaining markers are calculated from the prospectus rules.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Valuation day | 1st business day of the month |
| Cut-off | 3 business days before dealing day · (before the anchor date) |
| Price | last calculated NAV |
| NAV publication | NAV as a rule as at the last business day of the calendar month; no publication deadline stipulated |
| Payment | pre-funding: 3 business days before dealing day |
| Minimum investment | depending on the share class, in EUR/USD/GBP/CHF/SGD/AUD/CAD: 25,000 (A, AF, C, F, H, H-2, I); 200,000 (G); 1,000,000 (A-1, H-1, I-1); 10,000,000 (B); 100 (D, P) |
| Business day | banks open for business in Luxembourg, New York and London (p. 18) |
Dates calculated from the prospectus rules (bank holidays: GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 25 Sep 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate) and without a lock-up. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption per the KID as at the close of business on the last business day of each calendar quarter with at …
NAV per unit less redemption fee (up to 2%)
5% per calendar quarter, based either on the NAV of the sub-fund or on the total number of shares …
redemption day
A request made today is paid out on — — — days; from the cut-off to cash it is — days.
Shown without a date because the prospectus does not quantify: NAV publication. The remaining markers are calculated from the prospectus rules.
Money typically within half a year — on average 122 days from decision to cash.
Rank 54 of 112 · rank 22 of 31 in Private Credit · no lock-up · exit costs of 2.0% included
Money typically within half a year — on average 122 days from decision to cash.
no lock-up · no fixed redemption fee
Confidence medium — prospectus data incomplete · prospectus as at 13 Apr 2026 · score run 16 Oct 2026 · How 122 days become 29 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Valuation day | quarter-end |
| Notice | 30 calendar days before Valuation day · close of business |
| Price | quarter-end |
| Payout | 45 calendar days after redemption day |
| Gate | 5% of the average NAV of previous months per quarter |
| Scaled-back portion | carried forward automatically to the next dealing day |
| Redemption fee (max.) | up to 2% (12 months, cliff (lapses after the period)) |
| Lock-up | none |
| Switch / transfer | permitted only with the prior written consent of the Board |
| Compulsory redemption | Compulsory redemption by the Board in the case of non-qualifying and sanctioned investors; details per the supplement |
5% per calendar quarter, based either on the NAV of the sub-fund or on the total number of shares outstanding. Redemptions are provided for quarterly at the quarter-end NAV, but are expressly not guaranteed: the board of directors may accept, reject, make subject to conditions or postpone requests in whole or in part at its own discretion.
The 5% limit is expressed in two ways in the monthly report - as a proportion of NAV or of the total number of units outstanding; which reference basis applies in a given case is governed by the sub-fund supplement, which is not available. In addition, every redemption is subject to the discretion of the board of directors, which may reject or postpone requests irrespective of the gate.
Dates calculated from the prospectus rules (bank holidays: GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 25 Sep 2026 · Documents: 08.
2 classes.
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.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Presentation | — | — |
| NAV series price feed / provider document | 30 Jun 2026 | Performance (01) |
| Positions and reserve | 31 Dec 2025 | Portfolio (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.
Redemption quarterly, notice period 30 calendar days before Valuation day, with 5% gate per quarter. Subscribing today, it takes on average 122 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 1.95% p.a. according to the PRIIPs KID; the median of the Private Credit funds in this database is 2.05%; plus a performance fee of 10%.
10,000,000 EUR.
Not as a retail investor. According to our evidence, in Germany it is open only to semi-professional investors (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the CVC-CRED European Private Credit. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.