CAIS Partners With Solactive to Launch Private Credit BDC Index
Alternative investment platform CAIS announced the launch of the Solactive CAIS Private Credit BDC Index, or CAISCRED. Available through CAIS’ registered investment adviser CAIS Advisors LLC, in partnership with global index provider Solactive, CAISCRED is a first-of-its-kind index designed to provide a transparent, rules-based benchmark for private credit exposure via perpetual non-traded business development companies.
The launch of CAISCRED marks the beginning of a broader index series, which seeks to deliver standardized benchmarks for private market allocations. As the first index in the series, advisers can use CAISCRED to gauge private credit BDC performance, as well as for ongoing monitoring of private credit exposure through BDCs.
“Adviser demand for registered products continues to grow, but until now, advisers have often relied on fragmented benchmarking and data analytics when analyzing private market allocations,” said Neil Blundell, chief investment officer at CAIS Advisors. “We partnered with Solactive, a leading index provider and recognized innovator, because of our shared vision for solving this gap in the market. This index series seeks to deliver transparent, reliable benchmarks that allow advisers to better evaluate, track, and compare private market allocations.”
CAISCRED is independently calculated by Solactive applying a rules-based index calculation methodology. The index is rebalanced quarterly to measure the net performance of 40 perpetual non-traded BDCs, representing $130 billion in private credit net assets and 8,000+ underlying loans.
“CAISCRED sets a new standard for how private credit exposure is measured,” said Steffen Scheuble, chief executive officer of Solactive. “By combining Solactive’s experience in index construction with CAIS Advisors’ deep understanding of private markets, we’re delivering a benchmark that advisers can fully utilize. This is just the first step in a broader series of indices designed to bring greater transparency and precision to private market investing.”
Solactive offers indexing, benchmarking, and calculation solutions for the global investment and trading community. With over 30,000 indices calculated daily, Solactive offers a full suite of standard and custom index solutions, spanning all major asset classes. As at January 2024, Solactive served approximately 500 clients across the world, with approximately $300 billion invested in products linked to its indices.
Earlier this summer, AltsWire reported on CAIS’s execution capability debut for ticker-traded alternative investment funds, i.e., interval funds. The feature enables advisers to facilitate the execution of both ticker-traded interval funds and subscription-based funds on the CAIS platform, providing advisers with a unified pre-trade, trade, and post-trade experience for all their alternatives. The update also enabled single-click model allocations on the CAIS Models Marketplace across all structure types, including private funds, registered funds, and ticker-traded products.
Founded in 2009, CAIS serves more than 50,000 independent financial advisers who oversee more than $6.5 trillion in client assets. The company provides access to hedge funds, private equity, private debt, real estate, digital assets, and structured notes through its platform, with offices in New York, Los Angeles, Austin, and London.
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