Fund database › Private Credit

G-European Credit ELTIF

Goldman Sachs AlternativesLU3281031842Class R0A (EUR)

ELTIF 2.0Private CreditLuxembourgSFDR Article 8both15 share classes ↓
What the fund does

The credit ELTIF of the Goldman Sachs G-Series extends first-lien secured loans to European companies — carried by one of the largest private-credit platforms worldwide, as an ELTIF in a Part II wrapper.

Liquidity

Monthly subscription; quarterly redemption with a good month's notice; the limit is doubly capped against fund assets and the regulatory liquidity ratio. The main share class shown here, R0A, has only a thirty-day minimum holding period and a deduction on redemptions in the first year; the large-ticket RSD classes carry a hard two-year lock-up from subscription.

Access

Subscription from EUR 10,000 depending on share class, primarily for professional investors; registered in roughly twenty-three countries, including Germany.

Price & return
NAV28 Aug 2026100.54 EUR
Costs & risk
Ongoing costsmedian Private Credit 2.05%1.94%
Risk (SRI)scale 1 to 73 of 7
Access & liquidity
Minimum investmentclass R0A (EUR)10,000 EUR
Liquidity scoreavg. 176 days to cash22low
Redemptiongate 5% per quarterquarterly, on the last business day
Recommended holding periodper key information document8 years
Compared with the asset classMedian of Private Credit funds in this database with a documented value · data run 16 Oct 2026
Ongoing costs
1.94%this fund
2.05%median
Liquidity score
22this fund
36median
Redemption
quarterly, on the last business daythis fund
quarterlytypical
ContextEditorial

One of the largest European credit evergreens and the credit centrepiece of the G-Series — instead of a classic performance fee, the fee structure works with class-specific carried interest: a detail the cost comparison makes visible and hardly any competitor shares.

Figures for class R0A (EUR) (LU3281031842) · product data 12 Oct 2026 · sources: prospectus (as at 30 Sep 2026), PRIIPs-KID — full list under 08 documents.

01Performance

distribution policy not verified

Class R0A (EUR) · Net asset value (NAV) in EUR
100.54 EURNAV as at 28 Aug 2026Move the pointer over the line
100.00100.20100.40Jul 2026Aug 2026Aug 2026Aug 2026Aug 2026
Performancedistribution policy not verified

2 monthly values · Source: secondary source (data portal) · 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. distribution policy not verified.

02Strategy

What the prospectus permits: Directly originated, floating-rate cash-pay loans, buy-and-hold; >75% first-lien senior loans

prospectus (as at 30 Sep 2026)
Launch2026
Fund sizenot documented
Sub-strategyDirect Lending · Senior Secured
SFDRArticle 8
Liquid assetstarget 45%
Leverage limit50%

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

03Portfolio

The five largest holdings account for 23.1% of the fund.

31 Dec 2025
SectorsApproximation from fund documents, not actual values · 21 Aug 2026

Focus according to fund documents: Diversified, no sector breakdown 100%

Regions and structureApproximation from fund documents, not actual values · 21 Aug 2026

Focus according to fund documents: Europe 100%

23.1%Top 5 of NAV
6.0%largest position

Among the largest positions: 5 loans.

The five largest positions approximation via the parallel fund% NAV parallel fund · 31 Dec 2025
  1. 1
    SNFL (Ink Bidco) – GSEC referenceloan · Europe
    6.0%

    Borrower “SNFL”, financed through the vehicle Ink Bidco; its business activity and sector are not described in the documents.

  2. 2
    Adevinta ASA – GSEC referenceloan · Online marketplaces · Norway
    5.8%

    Adevinta (Oslo) operates online classifieds marketplaces in Europe, including leboncoin, mobile.de, Kleinanzeigen and Marktplaats.

  3. 3
    IVC Evidensia – GSEC referenceloan · Veterinary medicine · United Kingdom/Europe
    5.1%

    IVC Evidensia, Europe's largest operator of veterinary practices and animal hospitals, formed in 2017 through the merger of the UK's IVC with Sweden's Evidensia.

  4. 4
    Trade Me (Titan Acquisition) – GSEC referenceloan · Online marketplaces · New Zealand
    3.4%

    Trade Me is New Zealand's largest online marketplace for classifieds, property, vehicles and jobs, based in Wellington.

  5. 5
    Septeo Group (Seven Bidco) – GSEC referenceloan · Software · France
    2.8%

    French provider of industry-specific software for legal professionals such as lawyers and notaries, for property managers and for businesses, headquartered in Montpellier.

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 1.94%, class R0A (EUR) is below the median of the asset class (2.05%).

PRIIPs-KID R0A (EUR)
Ongoing costsper year, % of unit value
  • Total ongoing costs1.94%
  • of which management fee1%
  • Performance feenot documented
  • Hurdle rate5%
  • High-water marknot documented
1.94%this fund
2.05%median Private Credit
1.59%cheapest class

For 10,000 EUR this means roughly 194 EUR per year; the cheapest class with a cost figure is RSD0A (EUR) (1.59%, from 5,000,000 EUR).

One-off costsmaximum per prospectus
  • Entry charge (for distribution)up to 3.50%
  • Redemption feeup to 2%

For 10,000 EUR, a one-off up to 350 EUR on purchase and up to 200 EUR on redemption.

  • Several layers of fees possible. n/a - the ELTIF is an extension ('extension') of the existing evergreen strategy dating from October 2023; a feeder structure into the existing evergreen or joint investment vehicles is likely, but not documented. Double charging cannot be excluded

Based on the PRIIPs key information document of class R0A (EUR), 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.

calculated on —
Next subscription cycleValuation day — · calculated on — Your step Fund-internal
  1. Documents complete
    —recommendation

    KYC/AML and complete subscription form required for acceptance by the Subscription …

  2. Order cut-off
    —18:00 Luxembourg

    not regulated; the Board may only reject subscriptions or defer them to later Dealing …

  3. Valuation day
    —T

    Price = NAV per share on this day.

  4. NAV published
    Valuation Day = last business day of the …
  5. Payment due
    —T−6 BD

    pre-funding: 6 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.

Before placing the orderwhat can delay, add cost to or scale back the subscription
  • Payment: pre-funding. Defaulting Investor: the order and the issue of units may be cancelled, partial amounts returned without interest; the investor is liable for costs and, at the Board's discretion, interest.
  • Scaling back possible. The Board may reject subscriptions in whole or in part or defer them to later Dealing Dates; classes RSD0D/RSD0A only in the first three Dealing Dates and max.
  • Clarify the share class first. EUR 10,000 (R, A and B classes), EUR 5,000,000 (RSD classes)
  • Number of units is fixed later — 100,000 EUR at the latest NAV (100.54 EUR, 28 Aug 2026) would equal roughly 995 units.
All prospectus details on subscription12 items · incl. procedure, KYC, business-day definition
Frequencymonthly
Procedurefully paid-in
Valuation daylast business day of the month
Cut-off10 business days before dealing day · 18:00 Luxembourg · (before the anchor date)
Pricevaluation day
NAV publicationValuation Day = last business day of the calendar month; NAV per unit available within a reasonable period thereafter per the main section, no quantified …
Paymentpre-funding: 6 business days before dealing day
Minimum investmentEUR 10,000 (R, A and B classes), EUR 5,000,000 (RSD classes)
Subscription limitThe Board may reject subscriptions in whole or in part or defer them to later Dealing Dates; classes RSD0D/RSD0A only in the first three Dealing Dates and max.
KYC / documentsKYC/AML and complete subscription form required for acceptance by the Subscription Deadline, 10 business days before Dealing Date
RevocationRetail: cancellation until expiry of the 14-day cooling-off period, not thereafter; Professional: not governed
Business daybanks open for business in Luxembourg, London and New York (p. 17); no differing value in the Sub-Fund Supplement

Dates calculated from the prospectus rules (bank holidays: GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.

06Redemption & liquidity

Units can be redeemed quarterly — with a volume limit (Gate), lock-up 1 month. 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
    —

    Minimum holding period of 30 calendar days from the Dealing Date of the acquisition.

  2. Pricing date
    —T

    NAV per unit less redemption fee (up to 2%)

  3. Gate check
    on the pricing date

    Twofold cap: redemptions are limited per calendar quarter to the lower of 5% of the sub-fund NAV as at the …

  4. NAV published
    Valuation Day = last business day of the …
  5. Payout
    —T+65 CD

    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.

Liquidity scoreHow quickly can you get your money out, according to the prospectus?
22/100low

Money typically within half a year — on average 176 days from decision to cash.

Rank 63 of 112 · rank 25 of 31 in Private Credit · 1 month lock-up · exit costs of 2.0% included

40/100medium

Money typically within half a year — on average 146 days from decision to cash.

1 month lock-up — expired for existing holdings · 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 net assets of the previous period per quarter can be redeemed. In addition: ELTIF Redemption Cap of 27.3% of the Redemption Assets per calendar quarter …
  • Carried forward automatically to the next dealing day.
  • No history yet — fund since 2026; no redemption period under pressure documented.
  • The prospectus does not say how long a suspension may last.

Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 30 Sep 2026 · score run 16 Oct 2026 · How 176 days become 22 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
Frequencyquarterly
Valuation dayquarter-end
Notice33 calendar days before redemption day
Pricequarter-end
Payout65 calendar days after redemption day
Gate5% gross of net assets of the previous period per quarter; ELTIF Redemption Cap of 27.3% of the Redemption Assets per calendar quarter …
Scaled-back portioncarried forward automatically to the next dealing day
Redemption fee (max.)up to 2% (12 months, cliff (lapses after the period))
Lock-upinvestor-level, 1 month (subscription)
SuspensionValuation sources or markets not available; transfer and repatriation restrictions; liquidation or restructuring.
Liquidity toolsRedemption Cap of 5% per quarter and ELTIF Redemption Cap of 27.3% of the Redemption Assets; discretionary gates below the cap.
Switch / transferpermitted with the written consent of the Board, which may not be unreasonably withheld; capital may otherwise be withdrawn only by way of redemption
Compulsory redemptionloss of Eligible Investor status; regulatory, tax or ERISA disadvantages; Cause (breach of contract, misconduct, impermissible transfer).

Twofold cap: redemptions are limited per calendar quarter to the lower of 5% of the sub-fund NAV as at the preceding valuation day (Redemption Cap) and 27.3% of the Redemption Assets (ELTIF Redemption Cap). Redemption Assets = UCITS-eligible investments on the determination date plus cash flows prudently forecast over twelve months in accordance with the ELTIF Regulation.

The gate is quantified twice over: the lower of 5% of the sub-fund NAV per calendar quarter (Redemption Cap, measured against the NAV of the preceding valuation day) and 27.3% of the Redemption Assets per quarter (ELTIF Redemption Cap). Redemption Assets are the UCITS-eligible investments on the determination date plus the cash flows prudently forecast over twelve months.

Dates calculated from the prospectus rules (bank holidays: GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.

07Share classes

15 classes. All cost and risk figures on this page refer to the basis class R0A (EUR); the cheapest class with a cost figure is RSD0A (EUR) (1.59%, from 5,000,000 EUR).

15 of 15 classes with a key information document
ISINClassCurrencyIncomePRIIPs KIDStatusMinimum investmentMgmtOngoing costs
LU3281031842R0A (EUR)basisEURaccumulating✓launched10,000 EUR1%1.94%
LU3281032493A (EUR)EURaccumulating✓not yet launched10,000 EUR0%—
LU3281032576B (EUR)EURaccumulating✓not yet launched10,000 EUR0%—
LU3444316635RSD0A (EUR)cheapest classEURaccumulating✓launched5,000,000 EUR0.65%1.59%
+ show 11 further classesshow fewer
LU3348105852G (EUR)EURaccumulating✓not yet launched—0%—
LU3312602074R0A (SEK)SEK hedgedaccumulating✓not yet launched—1%—
LU3281031768R0D (EUR)EURdistributing✓launched10,000 EUR1%1.94%
LU3312601936R0D (SEK)SEK hedgeddistributing✓not yet launched—1%—
LU3281032063R1A (EUR)EURaccumulating✓launched10,000 EUR1%2.79%
LU3298383582R1A-IT (EUR)EURaccumulating✓not yet launched10,000 EUR1%—
LU3281031925R1D (EUR)EURdistributing✓launched10,000 EUR1%2.79%
LU3298383400R1D-IT (EUR)EURdistributing✓not yet launched10,000 EUR1%—
LU3281032220R2A (EUR)EURaccumulating✓launched10,000 EUR1%2.94%
LU3281032147R2D (EUR)EURdistributing✓launched10,000 EUR1%2.94%
LU3444316718RSD0D (EUR)EURdistributing✓launched5,000,000 EUR0.65%1.59%

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 / ManCoGoldman Sachs Asset Management Fund Services Limited
DepositaryCACEIS Bank, Luxembourg Branch
Investor baseretail and professional investors
Distribution authorisationAustria, Belgium, Cyprus, Czechia, Germany, Denmark, Spain, Finland (+15)
DomicileLuxembourg
Legal wrapperELTIF 2.0
Fund currencyEUR
BaFin marketing notificationGoldman Sachs Alternatives SICAV - G-European Credit ELTIF
Documents evaluateddata as at 12 Oct 2026
DocumentAs atUsed for
Key information document (PRIIPs KID)11 Aug 2026—
NAV series
secondary source (data portal)
28 Aug 2026Performance (01)
Positions and reserve31 Dec 2025Portfolio (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 G-European Credit ELTIF

How quickly can I get out of the G-European Credit ELTIF?

Redemption quarterly, on the last business day, notice period 33 calendar days before redemption day, with 5% gate per quarter. Subscribing today, it takes on average 176 days from decision to cash under the prospectus deadlines; a gate is not factored in.

What does the G-European Credit ELTIF cost per year?

Ongoing costs of 1.94% p.a. according to the PRIIPs KID for class R0A (EUR); the median of the Private Credit funds in this database is 2.05%.

What is the minimum investment in the G-European Credit ELTIF?

10,000 EUR in class R0A (EUR).

Can I buy the G-European Credit ELTIF as a retail investor in Germany?

Yes. According to our evidence, the fund is open to retail investors in Germany (as at 5 Oct 2026). The Access check shows the details.

Is the G-European Credit ELTIF currently gated?

As at 16 Oct 2026, no redemption restriction is documented for the G-European Credit ELTIF. Under the prospectus a gate of 5% per quarter 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.