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S••••• P••••••• C••••• A•••••••• L•••

Private credit managerClassification probableLower middle marketSEC registered investment adviser· Boston, MA

••• Locked

Regulatory AUM
$419M
Form ADV
PE fund assets
$419M
Form ADV
PE funds
8
Form ADV
As of · identity and classification; each section below carries its own date

What matters now

  1. Form D
    new offering

    Filed a Form D on 17 Sep 2026, the first public sign that a vehicle is taking commitments.

    A vehicle in market is when LPs and placement agents can still get in.

    FactSEC Form DFor LPs, placement agentsFund families
  2. -4
    funds on Form ADV

    Private equity funds on its Form ADV went from 12 to 8 (-4).

    Vehicles leaving the filing are funds wound up or moved to another adviser.

    FactSEC Form ADV, Schedule DFund families
Classification, Form ADV and stated criteria
How this organization is classified, and on what basisPrivate credit manager · 2 in historyShow
Class
Private credit managerprobable, confidence 70%
Basis
The adviser's name says 'Credit' (credit, royalty or BDC manager), not a control buyer
Size band
Lower middle marketdefined by: proxy: $0.82bn Private Equity Fund GAV on the Form ADV filed 2024-03-22
Strategies
Private credit
Classification history (2)
  1. Sep 13, 2026
    Private credit manager (probable, 70%)
    The adviser's name says 'Credit' (credit, royalty or BDC manager), not a control buyer
  2. Sep 13, 2026
    Private credit manager (probable, 70%)
    12 of 12 private equity vehicles are named credit
Regulatory footprint (Form ADV)RAUM $419M · 8 PE funds · filed Aug 20, 2026Show
Adviser type
Registered investment adviser
Form ADV filings
Mar 30, 2012 to Aug 20, 2026
RAUM
$419Mregulatory assets under management of the adviser; not dry powder, not a fund size
PE funds, latest filing
8
PE fund GAV, latest filing
$419Mreported gross assets (Form ADV), not fund size
All private fund GAV
$419Mevery private fund type, latest filing
2024 PE fund GAV
$422Msum over funds typed Private Equity Fund with a 2024 or later as-of date
PE share of funds, lifetime
100%
Fund type mix
  • Private equity fund: 8 funds, $419M reported gross assets, 12 ever reported
Form ADV filed Aug 20, 2026
Employees
9
Headquarters
Boston, MA
Office address
••• Locked
Business phone
••• Locked
Stated criteria beside observed behaviourno criteria stated · no observed deals yetShow
Stated by the firm
Sectors
not stated or not yet read
Geography
not stated or not yet read
Revenue
not stated or not yet read
EBITDA
not stated or not yet read
Enterprise value
not stated or not yet read
Equity check
not stated or not yet read
Control
not stated or not yet read
Thesis
not stated or not yet read
Observed from deals on record

Nothing observed yet. Behaviour is computed from transactions and portfolio relationships, which have not been collected for this firm.

Funds
16 families, 34 vehicles on record

10 smaller families are in the full list of vehicles.

View all 34 vehiclesnewest vintage first, then largest
FundVehicleVintageReported gross assets (Form ADV), not fund sizeGAV by yearForm D soldLifecycle
S••••• P••••••• C••••• O••••••• F••• I•• A••• L•••
ADV: Private Equity Fund
Credit fund2023
first reported on Form ADV
$93,198
as of Mar 22, 2024
no Form DUnknown
S••••• P••••••• C••••• F••• I•• L•••
ADV: Private Equity Fund
Credit fund2021
Form D first sale
$213M
as of Aug 20, 2026
$313MHarvest
S••••• P••••••• C••••• O••••••• F••• I•• L•••
ADV: Private Equity Fund
Credit fund2021
Form D first sale
$31.1M
as of Aug 20, 2026
$313MHarvest
S••••• P••••••• C••••• F••• I••• L•••
ADV: Private Equity Fund
Credit fund2018
first reported on Form ADV
$44.7M
as of Aug 20, 2026
no Form DHarvest
S••••• P••••••• C••••• O••••••• F••• I••• L•••
ADV: Private Equity Fund
Credit fund2018
first reported on Form ADV
$33.0M
as of Aug 20, 2026
no Form DHarvest
S••••• P••••••• C••••• F••• B••• L•••
ADV: Private Equity Fund
Credit fund2015
first reported on Form ADV
$15.1M
as of Aug 20, 2026
no Form DHarvest
S••••• P••••••• C••••• F••• I•• L•••
ADV: Private Equity Fund
Credit fund2013
Form D first sale
$64.2M
as of Aug 20, 2026
no Form DHarvest
S••••• P••••••• C••••• O••••••• F••• I•• L•••
ADV: Private Equity Fund
Credit fund2013
Form D first sale
$13.3M
as of Aug 20, 2026
no Form DHarvest
S••••• P••••••• C••••• F••• A••• L•••
ADV: Private Equity Fund
Credit fund2013
Form D first sale
$4.4M
as of Aug 20, 2026
no Form DHarvest
S••••• P••••••• C••••• F••• A••• L•••
ADV: Private Equity Fund
Credit fund2012
Form D first sale
$1.1M
as of Mar 22, 2024
no Form DHarvest
S••••• P••••••• C••••• O••••••• F•••• L•••
ADV: Private Equity Fund
Credit fund2012
Form D first sale
$775,234
as of Mar 22, 2024
no Form DHarvest
S••••• P••••••• C••••• F•••• L•••
ADV: Private Equity Fund
Credit fund2011
Form D first sale
$1.4M
as of Mar 22, 2024
no Form DHarvest
S••••• I•••••••• I• L••buyout or unlabelled2010
Form D first sale
unknownno reportingno Form DUnknown
S••••• I•••••••• G• I•••• I•• L••buyout or unlabelledunknownunknownno reporting$0Unknown
S••••• I•••••••• C••••• I••• L••Credit fundunknownunknownno reporting$0Unknown
S••••• P••••••• C••••• M•••••• L•••Credit fundunknownunknownno reportingno Form DUnknown
S••••• I•••••••• C••••• I•• L••Credit fundunknownunknownno reportingno Form DUnknown
S••••• P••••••• C•••••••• ••••••••• L•••Co-investment vehicleunknownunknownno reportingno Form DUnknown
S••••• I•••••••• X• L••buyout or unlabelledunknownunknownno reporting$0Unknown
S••••• I•••••••• X•• L••buyout or unlabelledunknownunknownno reporting$0Unknown
S••••• P••••••• C•••••••• ••• L•••Co-investment vehicleunknownunknownno reporting$0Unknown
S••••• P••••••• R••••••••• F••• I•••• L•••Feeder or parallelunknownunknownno reporting$0Fundraising
S••••• P••••••• R••••••••• F••••• F•••••• L•••Feeder or parallelunknownunknownno reporting$0Unknown
S••••• P••••••• C•••••••• •••••••• L•••Co-investment vehicleunknownunknownno reporting$0Unknown
S••••• P••••••• R••••••••• F••• I•••• L•••Feeder or parallelunknownunknownno reporting$0Fundraising
S••••• P••••••• R••••••••• F••••• F•••••• L•••Feeder or parallelunknownunknownno reporting$0Unknown
S••••• I•••••••• C••••• I•• L••Credit fundunknownunknownno reporting$0Unknown
B••••••• S••••• S•••••••• S••••••••• L•••buyout or unlabelledunknownunknownno reporting$0Unknown
S••••• P••••••• C•••••••• ••••••••• L•••Co-investment vehicleunknownunknownno reporting$0Unknown
S••••• P••••••• C•••••••• •••••••• L•••Co-investment vehicleunknownunknownno reporting$0Fundraising
S••••• I•••••••• C••••• X•• L••Credit fundunknownunknownno reporting$0Unknown
S••••• P••••••• C•••••••• ••••••••• L•••Co-investment vehicleunknownunknownno reporting$0Unknown
S••••• P••••••• C•••••••• ••••••• L•••Co-investment vehicleunknownunknownno reporting$0Unknown
S••••• P••••••• C•••••••• ••••••••• L•••Co-investment vehicleunknownunknownno reporting$0Unknown
Team
12 current, 9 former
Full team · 12 peoplegrouped by role, with sources
Managing partner (1)
Partner (3)
Board or advisory (5)
Platform (3)
9 former (kept with end dates)
Deals
0 on record, newest first · 0 platforms · 0 add-ons
No deal naming this firm has been collected yet. Deals arrive from the firm’s portfolio page, SEC filings and cited announcements.
Placement agents, lenders, advisers and co-investors
8 relationships
Placement agents (8)
  • F•••• A••••• 4 shared · strong · last Jan 1, 2023
  • E•••• P•••••••• L•• 3 shared · strong · last Jan 1, 2012
  • F•••• A••••• P••••••• L•• 2 shared · recurring · last Jun 15, 2022
  • E••••••• G•••• L••••• 2 shared · recurring · last Dec 29, 2020
  • M••••••• G••••• I••• 2 shared · recurring · last Jun 15, 2022
  • G•••••• S•••• • C•• L•• 2 shared · recurring · last Dec 17, 2025
  • A•••••• S••••••••• G••••• L••• 2 shared · recurring
  • I•• S••••••••• C•• L••• 1 shared · one time · last Jan 1, 2022
LP commitments
1 LPs, 1 disclosed commitments
  • C••••••••• S•••• T•••••••• R••••••••• S•••••
    1 commitment to 1 fund · $120M disclosed
All 1 commitmentgrouped by LP, largest first
C••••••••• S•••• T•••••••• R••••••••• S••••• $120M disclosed
Events
2 most recent
  1. Aug 20, 2026
    ••• Locked
    PE fund count changedFactForm ADV
  2. Mar 30, 2012
    ••• Locked
    First Form ADV filingFactForm ADV
Across the graphs

S••••• P••••••• C••••• A•••••••• L••• is the same institution as 3 records in Independent Sponsors, RIA and Wealth and Private Credit.

Independent Sponsors1RIA and Wealth1Private Credit1

Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.

Checking your plan…

Not yet on record: investments held, deals, last 12 months.