Satellites Master Page
FS Credit REIT
A portfolio of senior loans secured by commercial real estate, primarily in the US. Focus on Senior, floating rate mortgage loans that are first priority with an average loan-to-value (LTV) of 70%. While up to 25% of the portfolio can be non direct originated securities such as CMBS, the fund currently has a < 1% positions it anticipates a 5% - 10% position once the fund is mature.
Flatrock
The Flat Rock Core Income Fund provides financing solutions to U.S. middle market businesses. The Fund primarily invests in first lien floating rate loans to middle market companies owned by private equity firms. Flat Rock Core Income Fund’s objective is the preservation of capital while generating current income from its debt investments and seeking to maximize the portfolio’s total return.
Variant
The fund offers investors efficient access to a diversified portfolio of unconventional income-generating assets. These asset classes include: litigation finance, music royalties, portfolio finance, real estate debt, secondary's in private credit, specialized real estate equity, transportation finance, warehouse facilities, specialty finance, and tradeable securities. The goal of the fund is to provide high single digit to low double digit returns through a combination of distributions and NAV appreciation.
Private Shares Fund
The Private Shares Fund seeks capital appreciation by focusing on investments in the equity of late-stage, venture-backed private companies. As compared to startups and earlier-stage venture companies, these companies have more established product lines and customer bases, and typically have displayed revenue growth. The Private Shares Fund’s strategy is to participate in the potential appreciation of these dynamic pre-IPO companies.
Morgan Stanley BDC
Morgan Stanley launched this Direct Lending Fund to invest in directly originated middle market senior secured middle market loans. The fund seeks to achieve net returns in high single - low double digit range.
Legacy Satellites
i80 Group
i80 is a specialty finance fund focused on an underserved segment of the credit landscape, where demand for capital is significant and growing. The firm was built with institutional grade infrastructure and a rigorous risk management approach. The GP is aligned by having invested a significant portion of the fund's current assets. The founders, former colleagues of a global alternative asset manager, collectively have decades of experience in investment management roles at leading financial institutions.