Fund Management

What's New In Investments, Funds? – Cresset Partners, Carson Group

Editorial Staff January 11, 2023

What's New In Investments, Funds? – Cresset Partners, Carson Group

The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Cresset Partners
Cresset Partners has launched a diversified portfolio of private senior secured loans and other credit investments that can weather different financial conditions.

The new offering is called the Cresset Partners Private Credit Fund, LLC. 

The fund will focus predominantly on US middle-market borrowers with earnings before interest, taxation, depreciation and amortization of between $10 million and $100 million.

The US firm said that the floating-rate coupons that are typically associated with private loans mean that senior secured loans provide a “natural and effective” hedge against inflation and rising interest rates.

Recent market volatility has led to spread widening, providing a “compelling environment to deploy capital into private credit,” Cresset said. 

“The demand for private credit continues to grow, driven by the attractive merits of direct lending for both borrowers and investors who lend to private companies. This growing, $1 trillion asset class represents a significant opportunity for our investors,” executive managing director Kevin O’Donnell said.

“Cresset has utilized our significant scale, along with our deep industry relationships and strong reputation, to provide investors with an institutional-quality solution to invest in private credit,” O’Donnell said. 

Cresset Partners was founded in 2018 and has more than $2.6 billion in commitments (as of  November 1, 2022) across real estate, private equity, private credit, and venture capital.

Carson Group, Vestwell
Vestwell, a small business retirement provider and individual savings platform, is partnering with US-based Carson Group

Under the pact with the wealth management group, Vestwell will provide an SMB component to Carson’s new Carson Complete 401(k) offering. This program allows advisors to seamlessly scale up their small and midsize business retirement plan practices.   

“With significant tax credit expansion offered to small businesses through the SECURE Act, along with affordable fintech solutions driving down the costs for advisors, now is the time to take advantage of this market opportunity,” Aaron Schumm, CEO and founder of Vestwell, said. 

Under the pact with the wealth management group, Vestwell will provide an SMB component to Carson’s new Carson Complete 401(k) offering. This program allows advisors to seamlessly scale up their small and midsize business retirement plan practices.   

“With significant tax credit expansion offered to small businesses through the SECURE Act, along with affordable fintech solutions driving down the costs for advisors, now is the time to take advantage of this market opportunity,” Aaron Schumm, CEO and founder of Vestwell, said. 

Among recent developments, in December 2022 Carson Group acquired Northface Capital Holdings, a business with $200 million in assets under management. Carson Group is based in Omaha, Nebraska. 

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