Fund database › Private Credit
Oaktree Capital Management / Oaktree Fund AdvisorsLU2961425068Class A1
The Oaktree sub-fund runs the house's "all-weather" credit approach: predominantly privately originated loans, complemented by liquid bonds and loans, across North America and Europe — as a Luxembourg Part II SICAV with a look-through to the US vehicle, launched in 2025.
Monthly subscription; liquidity arises through a quarterly repurchase programme with a good month's notice and a quantified limit — there is no redemption right in the strict sense, and the programme can be suspended. Redemptions in the first year incur a fee.
Subscription from EUR 25,000; in the EEA for professional investors, in Germany expressly semi-professional only — no retail distribution.
Howard Marks’s approach to cycle-aware credit investing in a semi-liquid wrapper — it shares the repurchase-programme construction with StepStone: legally softer than a redemption right, which the investor must weigh against Oaktree's credit history.
Figures for class A1 (LU2961425068) · product data 25 Sep 2026 · sources: prospectus (as at 11 May 2026), PRIIPs-KID, Factsheet — full list under 08 documents.
Since the data series began in Feb 2025, the unit price has gained 4.8% per year. The series is monthly; valuations of private holdings arrive quarterly and smoothed — the line is therefore calmer than the risk.
18 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.
What the prospectus permits: Direct lending (sponsored and non-sponsored financings), opportunistic lending, senior securities/public debt; dynamic reallocation between private and public credit depending on the market phase …
Oaktree Strategic Credit Fund (US-BDC, SEC CIK 1872371) Participation 74.27% · as at 31 Jul 2026
This fund invests only part of its assets through Oaktree Strategic Credit Fund (US-BDC, SEC CIK 1872371) and holds the rest itself. The figures below describe that vehicle — not the fund’s own portfolio. They are set apart here so they cannot be mistaken for the fund’s figures.
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
174 holdings; the five largest account for 13.3% of the fund. 21.3% is held in the liquidity reserve — enough for 13 months of maximum redemptions.
How the reserve is invested: Private securities (not specified, Level 2) 22.1% · High Yield Bonds (aggregated) 13.0% · Senior loans, syndicated (aggregated) 8.3% · 4 more 5.1%. It covers 13 months of the maximum net redemption (at most 20% per year under the gate) — what that means for redemptions is in 06.
Among the ten largest: 10 loans.
Spruce Bidco I is the US acquisition vehicle of Vantive, the former kidney care division of Baxter International …
Acquisition vehicle (“buyer”) of a sponsor-led buyout of a US supplier to the aerospace and defense industry, financed through a first lien loan.
Creek Parent, Inc. is the parent company of Catalent, a global contract development and manufacturing organization (CDMO) for drugs, biologics and cell and gene therapies …
Draken International operates a private fleet of former fighter and training aircraft, providing adversary air (red air) and training services to the US armed forces and allied air forces …
Parent company of a sponsor-backed US healthcare services provider in the health care providers & services segment, financed through two first lien term loans.
Financing holding company of Adevinta, an Oslo-based operator of online classifieds marketplaces including mobile.de and Kleinanzeigen in Germany …
Swedish intermediate holding company (midco) of a sponsor-led buyout in the pharmaceutical sector …
Provider figures for the credit portfolio, not calculated by semiliquid.info. Providers report yield, remaining life and credit ratings under differing definitions — the basis of calculation is therefore shown with every figure. A comparison across funds only holds where the basis is the same.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; 1.0% is not allocated to any block in the source; holdings as at 30 Jun 2026, reserve as at 31 Jul 2026; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2%, class A1 is close to the median of the asset class (2.05%). On top comes a performance fee of 12.50% above a hurdle of 5%.
For 25,000 USD this means roughly 500 USD per year.
For 25,000 USD, no charge on purchase and up to 500 USD on redemption.
Based on the PRIIPs key information document of class A1, 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.
Complete subscription document including KYC/AML a condition of acceptance, hence 10 …
Waiver of the period at the free discretion of the sub-fund.
Price = NAV at the end of the previous month.
pre-funding: 7 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.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Dealing day | 1st calendar day of the month |
| Cut-off | 10 business days before dealing day · 17:00 CET · (before the anchor date) |
| Price | previous month-end |
| NAV publication | NAV as at close of business on the last calendar day of the month, made available as soon as practicable |
| Payment | pre-funding: 7 business days before dealing day |
| Minimum investment | 25000 EUR (or equivalent of the class currency); UK investors and GBP classes 50000 GBP |
| Subscription limit | The sub-fund may reject subscriptions; the AIFM may suspend or limit the acceptance of subscriptions |
| KYC / documents | Complete subscription document including KYC/AML a condition of acceptance, hence 10 business days before Subscription Date |
| Revocation | Revocation until 17:00 CET on the last business day before the Subscription Date |
| Business day | not a Sat/Sun and not a day on which banks in New York City, Luxembourg or Toronto are permitted to close (p. 104 and p. 272) |
Dates calculated from the prospectus rules (bank holidays: CA, LU, US); only the transfer agent’s confirmation is binding. Data as at 25 Sep 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate) and without a lock-up. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption request by 17:00 CET at least 35 business days before the quarter end …
NAV per unit less redemption fee (up to 2%)
Redemptions are possible quarterly as at the last calendar day of the quarter.
Pricing date for a request made today: —, in — days.
Shown without a date because the prospectus does not quantify: NAV publication, payment. The remaining markers are calculated from the prospectus rules.
Money typically within a quarter — on average 95 days from decision to cash.
Rank 68 of 112 · rank 26 of 31 in Private Credit · no lock-up · exit costs of 2.0% included
Money typically within a quarter — on average 95 days from decision to cash.
no lock-up · no fixed redemption fee
Confidence medium — waiting time approximated · prospectus as at 11 May 2026 · score run 16 Oct 2026 · How 95 days become 20 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | board discretion |
|---|---|
| Frequency | quarterly |
| Valuation day | quarter-end |
| Notice | 35 business days before redemption day · 17:00 CET |
| Price | quarter-end |
| Payout | 0 days |
| Gate | 5% gross of NAV on the redemption day per quarter; Equivalent quarterly limit for repurchases of Common Shares in the Underlying Fund (Oaktree Strategic Credit Fund). |
| 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 | none |
| Suspension | valuation difficulties; severe liquidity problems; Underlying Fund does not effect repurchases |
| Liquidity tools | Suspension of subscription and redemption; Quarterly Withdrawal Amount (Gate); extension of the notice period by up to 3 months. |
| Switch / transfer | Only with the prior written consent of the board of directors; no response within 30 business days is deemed a refusal |
| Compulsory redemption | Compulsory redemption in the case of Prohibited Persons and suspected market timing; compulsory pro-rata conversion into a Side Pocket class possible |
Redemptions are possible quarterly as at the last calendar day of the quarter. The total NAV of all redemptions is limited per Withdrawal Date to 5% of the aggregate net asset value of the units outstanding (Quarterly Withdrawal Amount); it is set at the sole discretion of the AIFM.
The 5% ratio applies on an aggregate basis across the entire sub-fund per quarter and is expressly at the sole discretion of the AIFM. Unlike with many competitors, scaled-back requests are NOT carried forward automatically – the investor must submit a new request for the next redemption date.
Dates calculated from the prospectus rules (bank holidays: CA, LU, US); only the transfer agent’s confirmation is binding. Data as at 25 Sep 2026 · Documents: 08.
32 classes. All cost and risk figures on this page refer to the basis class A1.
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 |
|---|---|---|
| Factsheet / monthly report as at 31 Mar 2026 | 31 Mar 2026 | — |
| NAV series price feed / provider document | 31 Jul 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 35 business days before redemption day, with 5% gate per quarter.
Ongoing costs of 2% p.a. according to the PRIIPs KID for class A1; the median of the Private Credit funds in this database is 2.05%; plus a performance fee of 12.50%.
25,000 USD in class A1.
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 Oaktree Strategic Credit Fund (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.