Fund database › Private Credit
ELTIF 2.0 Private Credit Luxembourg Article 8 17 share classes ↓ Direct Lending
We do not yet have a NAV series for this fund. Semi-liquid funds often publish their unit prices only monthly or quarterly — and not always publicly.
These come from the factsheet, the PRIIPs KID or the monthly report. They may relate to a different reference date, a different share class or a longer period than the series above — the series starts with the first documented unit price, not necessarily with the launch. That is why the values sometimes differ.
| Performance 12M | 7.33% |
Target return per the provider: 'AESIF ELTIF has a target annualised net return of ~7-9%, and a target levered distribution yield of ~6-8%'
Provider figure or KID scenario — not a forecast by semiliquid.info. Target returns are not guaranteed.
What the fund does and how the portfolio is put together.
Risk indicator 3 of 7 from the key information document (1 = low, 7 = high); it captures liquidity risks only to a limited extent.
Portfolio breakdown
Broken down using semiliquid’s common taxonomy — provider labels are mapped onto shared categories so that funds can be compared. Only published figures are used; nothing is estimated.
Strategy
The basis is the PRIIPs KID of the share class we track — which makes it comparable across providers.
| Management fee | 1.25% |
| Total ongoing costs | 3.00% |
| Entry charge max. | 0.00% |
| Redemption fee | 5.00% |
| Performance fee | 12.50% |
| Hurdle rate | 5.00% |
| High-water mark | not documented |
Median across 23 funds in this asset class in our database, based on the PRIIPs KID. No statement about quality — cost structures differ depending on the strategy and on target-fund layers.
How you get into the fund, and on what terms.
monthly ('The Fund offers monthly subscriptions and redemptions')
Semi-liquid means redemption only on fixed dates, with notice periods and upper limits. This is how it works for this fund — in the order the redemption process runs.
Units can be redeemed monthly; notice must be given 30 days before the date; on each date the fund redeems at most 2 % of fund assets; for the first 18 months after subscription no redemption is possible.
The gate caps redemptions at 2 % of fund assets per date. If more investors want out at the same time, orders are scaled back pro rata or deferred to the next date.
monthly ('monthly subscriptions and redemptions')
'redemptions typically capped at 2% of NAV per month and 5% per quarter'
30 days
No hard lock-up; early redemption deduction of 5.00 % of NAV on redemption within the first 18 months (applies to the ELTIF as well)
The score measures only the contractual redemption mechanics (the higher, the more flexible) — not whether the fund actually stays liquid under stress. Weightings in per cent.
17 classes known. All cost and risk figures on this page apply to the class we track. Minimum investment by class EUR 1,000 – EUR 25,000.
| ISIN | Status | Min. investment | Ongoing costs | SRI |
|---|---|---|---|---|
| LU2702161618 | documented | not documented | not documented | not documented |
| LU2702162343 | not yet collected | not documented | not documented | not documented |
| LU3091050016 | not yet collected | not documented | not documented | not documented |
| ISIN | Status | Min. investment | Ongoing costs | SRI |
|---|---|---|---|---|
| LU3091050107 | not yet collected | not documented | not documented | not documented |
| LU3091050289 | not yet collected | not documented | not documented | not documented |
| LU3091050362 | not yet collected | not documented | not documented | not documented |
| LU3091050446 | not yet collected | not documented | not documented | not documented |
| LU3091050529 | not yet collected | not documented | not documented | not documented |
| LU3091050792 | not yet collected | not documented | not documented | not documented |
| LU3091050875 | not yet collected | not documented | not documented | not documented |
| LU3091050958 | not yet collected | not documented | not documented | not documented |
| LU3091051170 | not yet collected | not documented | not documented | not documented |
| LU3091051253 | not yet collected | not documented | not documented | not documented |
| LU3091051337 | not yet collected | not documented | not documented | not documented |
| LU3091051410 | not yet collected | not documented | not documented | not documented |
| LU3091051923 | not yet collected | not documented | not documented | not documented |
| LU3091052061 | not yet collected | not documented | not documented | not documented |
Who stands behind the fund, who it is authorised for — and what the figures rest on.
Ares Management Luxembourg (AMLux), 14-16 Avenue Pasteur, L-2310 Luxembourg, CSSF authorisation A00002345 (MiFID permission Reg ID S00001060) - appointed as AIFM of the Ares European Fund Solutions SICAV and responsible, among other things, for risk management. Investment manager: Ares Management Limited, 10 New Burlington Street, London (FCA FRN 455547) - responsible for originating, structuring and negotiating the investments. Co-portfolio managers: Andrea Fernandez (Partner, COO European Direct Lending) and Danny Sinclair (Partner, Head of UK Direct Lending); the investment committee additionally comprises Michael Dennis and Matthew Theodorakis (Co-Heads European Direct Lending)
Launch announced by Ares on 18 Jun 2025; ELTIF authorisation, according to the available information, on 16 Jun 2025.
'Shares in the ELTIF may be marketed to both MiFID professional and MiFID retail investors, subject to local marketing registrations.' Presentation cover page: 'For Professional Investors and Qualified Investors Only. For Non-US Investors.' Switzerland: qualified investors only under the KAG (representative: mont-fort funds ag, Verbier; paying agent: Banque Cantonale de Genève); UK: unregulated collective investment scheme, only to FPO/PCISO addressees; Australia: wholesale clients only; Singapore/Hong Kong: institutional/professional investors only
Intended across the EEA, subject to local marketing registrations; a specific country list for the ELTIF is n/a
Master/feeder or parallel structure: the ELTIF sub-fund invests as a feeder, together with parallel vehicles (AESIF platform), in the same strategy; the fee gates are measured at the level of the aggregated NAV across the parallel vehicles. Management fee and performance fee are charged at a single level (no disclosed double charging); in addition, a servicing fee of up to 0.75 % p.a. on the retail classes. Exact master-level fee n/a
All figures come from our analysis of provider documents (product data as at 19 Aug 2026, distribution data as at 12 Aug 2026) and have not been conclusively verified.
Same asset class, sorted by overlap of sub-strategy — no recommendation, no ranking.
Apollo Global Management
Part II SICAV quarterly
Apollo Global Management
ELTIF 2.0 quarterly
Apollo Global Management
ELTIF 2.0 quarterly
Blackstone
Part II SICAV monthly