West Street European Private Credit Fund (AUD)
A defensive European Private Credit strategy for Australian eligible investors
The information, products and services described in this website are intended solely for persons in Australia who are wholesale clients within the meaning of section 761G of the Corporations Act 2001 (Cth). By clicking Confirm below, you confirm that:
A defensive European Private Credit strategy for Australian eligible investors
West Street European Private Credit Fund (AUD) is an open-ended fund focused on direct origination of senior secured corporate debt in high-quality, mostly private equity-backed companies, primarily in Europe.
Bringing together the established and specialist global private credit platform of Goldman Sachs Asset Management and its Australian investment partner, Channel Capital, the West Street European Private Credit Fund (AUD) (‘Fund’) provides Australian eligible investors access to a diversified portfolio of European private credit investments.
The Fund offers investors immediate exposure to a diversified portfolio of high-quality European private credit loans across non-cyclical industry sectors, presenting attractive risk-return potential, while leveraging Goldman Sachs Asset Management’s 28+ year track record and expertise in private credit investing.
James Reynolds, Global Head of Direct Lending explains why Europe is a compelling destination for private credit investors, how the team approaches origination and structuring, and how the scale and network of Goldman Sachs provides a unique opportunity set for investors.
Access to an industry-leading and established lender, with a proven track record in European direct lending throughout market cycles.
Strategic portfolio sourcing that leverages Goldman Sachs' vast network and exclusive deal flow, supported by strong sponsor relationships.
Sponsor-backed loans to mid-to-large cap borrowers with strong cashflows and market-leading positions.
Targeting floating rate credit through directly originated private loans, with the potential to provide a stable source of return and capital stability through high-quality assets.
Direct access to proprietary deal flow through an open-end structure, with monthly applications and redemptions* and quarterly distributions**.
A defensively positioned, highly selective portfolio that focuses on senior secured debt in non-cyclical, recession-resilient industries.
While there are pockets of opportunities in all segments of European private credit, Goldman Sachs Asset Management identifies the middle-and large-cap market in European private credit as offering superior relative value on a risk-adjusted basis.
Companies in this segment typically have established operations, stable cash flows, and robust market positions, reducing default risk compared to smaller counterparts. With better credit profiles and established industry leadership, mid- and large-cap firms instill confidence in lenders regarding business stability and longevity compared to riskier alternatives. Additionally, their potential for larger financing needs presents opportunities for higher interest income.
Fund Name and APIR | West Street European Private Credit Fund (AUD) - Class A APIR: CHN2106AU |
Responsible Entity | Channel Investment Management Limited ACN 163 234 240 AFSL 439007 (‘CIML’ or ‘Responsible Entity’) |
Underlying Fund | European Credit, being a sub-fund of the Goldman Sachs Alternatives SICAV |
Underlying Fund Manager | Goldman Sachs Asset Management International (the ‘Underlying Fund Investment Manager’ or together with its affiliates ‘GSAM’) |
Investment Objective | Generate income and, to a lesser extent, long-term capital appreciation |
Underlying Fund Target asset allocation | ~80% in private credit assets and 20% in liquid assets1 |
Geography Mix | 80%+ of Private Credit Investments in Europe2 |
Underlying Investments | Authorised investments of the Underlying Fund include, but are not limited to:
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Minimum investment amount | A$100,000 with lower minimums via platform access |
Valuations | Monthly |
Applications | Monthly |
Redemptions | Monthly3 |
Management fees and costs4 | 1.40% p.a. |
Indirect performance fee5 | The Fund does not currently charge a performance fee. The Underlying Fund charges Carried Interest on both the income generated and the realised capital gains portions of the portfolio as set out below.
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Currency | AUD |
Minimum suggested timeframe | Five years plus |
1. Liquid assets such as cash, cash equivalents, short term liquid instruments (such as money market instruments) and other tradeable securities or debt instruments (including syndicated bank loans, public fixed income securities and exchange-traded funds).
2. Up to 20% of the Underlying Fund’s NAV (excluding the Liquid Assets) may be invested in Investee Companies all or substantially all of the operations of which are, as reasonably determined by the Investment Manager, in non-European jurisdictions. With respect to Private Credit Investments, the Sub-Fund shall not make any investment in an Investee Company all or substantially all of the operations of which are, as reasonably determined by the Investment Manager, in one or more countries (except Singapore) not included in the Organization for Economic Cooperation and Development (“OECD”), as such group of countries may be reconstituted from time to time.
3. It is expected that, while the Fund is liquid, requests for redemption of Units will generally be processed monthly on the last Calendar Day of each month (‘Redemption Date’). Note that an Investor’s ability to redeem will be subject to various factors including available cash in the Fund and the Fund’s ability to redeem from the Underlying Fund. A request for redemption must be received at least 40 Calendar Days prior to the Redemption Date.
4. Includes the Underlying Fund’s management fee of 1.25% p.a. and is exclusive of the Underlying Fund’s estimated expenses of 0.40% p.a. Although entitled to do so, the Fund does not currently charge a performance fee.
5. Performance fees charged by interposed vehicles are deducted from the assets of the interposed vehicles as and when incurred and are therefore reflected in the Underlying Fund’s NAV and the value of the Fund’s investment in the Underlying Fund.
6. Computed net of all realised capital losses and unrealised capital depreciation on a cumulative basis, less the aggregate amount of any previously paid Carried Interest from capital gains as calculated in accordance with relevant accounting standards, paid at the end of the of each calendar year.
The following information is only available to professional advisers.
By clicking the Agree button below, you confirm that you are a professional adviser.
AgreeThe Fund can complement traditional equity and fixed income exposures and can form part of a private alternatives allocation. It may suit Australian eligible investors who:
Several specific risks are associated with investing in the Fund. This can include, but is not limited to:
Please refer to section 8 of the Product Disclosure Statement for more information about the risks of investing in the Fund.
Please keep me updated with the latest information on the Fund and any investment insights.