Fund database › Private Credit
Dawson PartnersLU3072854873Class A A EUR
Dawson Portfolio Finance occupies a niche no other fund in the database covers: NAV and portfolio financings with a credit-like risk profile, focused on North America — as a Luxembourg Part II SICAV, launched in 2025.
Monthly subscription; quarterly redemption with two months' notice; a minimum quota per quarter is offered, capped over the rolling year, without automatic carry-forward. Early redemptions in the first year incur a fee. Recommended holding period five years.
Subscription from EUR 30,000 for institutional and wealthy investors with a long horizon; not registered for distribution in Germany.
Specialty finance as an investment story of its own: the minimum repurchase quota per quarter is an investor-friendly inversion of the usual gate logic — a minimum is promised rather than a maximum capped.
Figures for class A A EUR (LU3072854873) · product data 26 Sep 2026 · sources: prospectus (as at October 2025), PRIIPs-KID, Factsheet — full list under 08 documents.
Since the data series began in Dec 2025, the unit price has gained 2.5% (cumulative, 0.5 years). The series is still short; valuations of private holdings arrive quarterly and smoothed.
2 monthly values · 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 Jul 2025; a reliable NAV series of the class is available from Dec 2025. series incomplete (2/7 months).
What the prospectus permits: Preferred equity and other structured interests in vehicles holding diversified North American private equity portfolios; access through secondaries, GP-led transactions, primaries and co-investments.
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
4 holdings; the five largest account for 121.6% of the fund.
Among the largest positions: 3 loans, 2 equity holdings; 4 names not disclosed.
Structured LP financing (NAV financing) by Dawson Partners totaling USD 1.9 billion to an unnamed North American borrower, held via Dawson Holdings …
Structured USD 1.8 billion LP financing (NAV loan) by Dawson for a global institutional investor with whom Dawson has previously completed transactions.
Luxembourg borrower vehicle of Dawson Portfolio Finance (Lux) SICAV through which the master fund extends portfolio financings.
USD 912.2 million LP purchase solution by Dawson comprising five diversified secondary transactions with LP interests, co-investments, continuation vehicles and primary commitments …
Undisclosed USD 1.1 billion LP purchase transaction by Dawson comprising two diversified secondary portfolios focused on North America.
Positions and shares according to the provider; 4 of 5 names not disclosed; 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 3.35%, class A A EUR is well above the median of the asset class (2.05%). On top comes a performance fee of 10% above a hurdle of 5%.
For 30,000 EUR this means roughly 1,005 EUR per year.
For 30,000 EUR, no charge on purchase and up to 600 EUR on redemption.
Based on the PRIIPs key information document of class A A EUR, hence comparable across providers. Median: 32 Private Credit funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV at the end of the previous month — it is not known when the order is placed and is published only 30 calendar days later.
complete subscription agreement including KYC/AML at least 5 business days before the …
The Sub-Fund may waive the 5-business-day notice period at its sole discretion.
Price = NAV at the end of the previous month.
Valuation day is the last calendar day of each Accounting Period (calendar month).
pre-funding: 5 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 —.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Dealing day | 1st business day of the month |
| Cut-off | 5 business days before dealing day · (before the anchor date) |
| Price | previous month-end |
| NAV publication | Valuation day is the last calendar day of each Accounting Period (calendar month); publication without a deadline - prospectus. |
| Payment | pre-funding: 5 business days before dealing day |
| Minimum investment | USD 30,000 (or CAD/EUR equivalent) |
| Subscription limit | The Sub-Fund may accept, delay or reject subscriptions at its sole discretion and may suspend acceptance |
| KYC / documents | complete subscription agreement including KYC/AML at least 5 business days before the dealing day |
| Revocation | a late order may be withdrawn until 17:00 CET two business days before the next dealing day |
| Business day | any day other than Sa, So, 24 December or a day on which banks must close in New York City, Toronto or Luxembourg (p. 98, p. 192) |
Dates calculated from the prospectus rules (bank holidays: CA, LU, US); only the transfer agent’s confirmation is binding. Data as at 26 Sep 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate), lock-up 12 months. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption day first business day of a calendar quarter, valuation as at the immediately preceding valuation …
NAV per unit less redemption fee (up to 2%)
at least 5% of the Aggregate NAV offered per quarter, capped annually at 20% of the average NAV.
No date can be calculated from the captured rules — a determinable valuation day is missing. Shown are the prospectus figures.
Money typically only after more than a year — on average 546 days from decision to cash.
Rank 76 of 112 · rank 28 of 31 in Private Credit · 12 months lock-up · no fixed redemption fee
Money typically within half a year — on average 181 days from decision to cash.
12 months lock-up — expired for existing holdings · no fixed redemption fee
Confidence medium — waiting time approximated · prospectus as at 15 Oct 2025 · score run 16 Oct 2026 · How 546 days become 14 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 | special rule, see prospectus |
| Notice | 60 calendar days before redemption day |
| Price | quarter-end |
| Payout | 75 calendar days after redemption day |
| Gate | 5% gross of NAV on the redemption day per quarter; Annual cap of 20% of the average Aggregate NAV of the last 12 months (Redemption Cap). |
| Scaled-back portion | scaled-back portion lapses; new request required, no priority |
| Redemption fee (max.) | up to 2% (12 months, cliff (lapses after the period)) |
| Lock-up | investor-level, 12 months (subscription) |
| Suspension | no orderly disposal possible, NAV calculation suspended, litigation/bank moratorium/war/disaster, material decline in NAV |
| Liquidity tools | extension of the notice period by up to 3 months, redemption limit of 5% per quarter and 20% p.a., suspension of NAV and redemptions, distribution in … |
| Switch / transfer | Transfer only to the extent expressly permitted in the articles of incorporation or the prospectus. |
| Compulsory redemption | in the case of a Prohibited Person, at the discretion of the Board or the Investment Manager, without the investor's consent |
at least 5% of the Aggregate NAV offered per quarter, capped annually at 20% of the average NAV; pro rata, no automatic carry-forward
Two limits operate together: each quarter at least 5% of the Aggregate NAV is offered for redemption (Sub-Fund-Level Limit), but over a year redemptions are capped at 20% of the average Aggregate NAV (Redemption Cap). In the event of oversubscription, requests are met pro rata up to the Sub-Fund-Level Limit; requests not executed lapse and must be resubmitted.
Data as at 26 Sep 2026 · Documents: 08.
2 classes. All cost and risk figures on this page refer to the basis class A A EUR.
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 |
|---|---|---|
| Key information document (PRIIPs KID) | 9 Jul 2025 | — |
| NAV series price feed / provider document | 30 Jun 2026 | Performance (01) |
| Positions and reserve | 30 Jun 2026 | 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 60 calendar days before redemption day, with 5% gate per quarter.
Ongoing costs of 3.35% p.a. according to the PRIIPs KID for class A A EUR; the median of the Private Credit funds in this database is 2.05%; plus a performance fee of 10%.
30,000 EUR in class A A 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 Dawson Portfolio Finance (Lux) SICAV. Under the prospectus a gate of 5% per quarter applies.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.