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Dawson Partners · LU3072854873
Part II SICAV Private Credit Luxembourg Article 6 Secondaries Co-Investments Primaries / Target Funds
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.
| Since launch p.a. | 31.70% |
Target return per the provider: No target return. KID scenarios (EUR 10,000, 5 years): moderate 8.9 % p.a. net (EUR 15,290), favourable 13.8 % p.a., unfavourable 3.5 % p.a.; RIY footnote 15.7 % p.a. before / 8.9 % p.a. after costs. 1-year scenarios: moderate 10.4 %, favourable 37.5 %, unfavourable -14.4 %
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 6 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 | 3.35% |
| Total ongoing costs | 3.35% |
| Entry charge max. | 0.00% |
| Redemption fee | 2.00% |
| Performance fee | 10.00% |
| Hurdle rate | 5.00% |
| High-water mark | yes |
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 NAV per Share is calculated monthly and made available as promptly as practicable thereafter.'
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 quarterly; notice must be given 60 days before the date; on each date the fund redeems at most 5 % of fund assets; for the first 12 months after subscription no redemption is possible.
The gate caps redemptions at 5 % 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.
From the notice being received to the money reaching your account: typically around 135 to 227 days — depending on how far away the next redemption date is. If the gate bites or redemptions are suspended, it can take considerably longer.
Quarterly - 'Shareholders may request redemptions quarterly, subject to a 60-day notice period.'
'Redemptions are generally limited to 5% of Fund net asset value (NAV) per quarter and 20% of Fund NAV per year.'
60 days' notice period for redemptions ('subject to a 60-day notice period'). Share-class switch: application at least 6 bank business days before the desired conversion date
No hard lock-up; soft lock via early redemption fee: 2 % on redemption up to the 1-year anniversary (Class A A EUR (H)); 1-2 years depending on the share class
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.
Who stands behind the fund, who it is authorised for — and what the figures rest on.
Management company: One Fund Management S.A., 4 Peternelchen, L-2370 Howald, Luxembourg (CSSF-authorised). Investment Manager: Dawson Partners Inc. (full discretion over portfolio composition)
Northern Trust Global Services SE
No launch date in the KID; the document is dated 9 Jul 2025. The fund has an indefinite term ('The Fund has an indefinite term')
'The Fund is intended for institutional and high-net-worth investors with a long-term investment horizon who can accept the risks associated with illiquid private equity investments. Investors should be prepared to hold their investment for at least 3-5 years.'
Luxembourg, USA, UK, EEA, Germany and 6 further countries
Predominantly fund level, but with target-fund exposure: the fund acquires structured interests (preferred equity and similar) in vehicles that hold PORTFOLIOS OF PRIVATE INVESTMENT FUNDS and companies (approx. 1,000 investments), via secondaries, GP-led deals, primaries and co-investments. At the level of the underlying PE funds, their fees and carry are incurred in addition (double charging on a look-through basis); diversification limits are expressly measured on a look-through basis
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.
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