PRIVATE CREDIT FUND
Our Private Credit Funds are a solution for income-focused investors seeking DEFENSIVE risk-adjusted returns. 2023 is wrapping up with indications of a recession. Is your wealth prepared for the volatility?
Our goal is to protect against challenging markets with a focus on capital preservation.
Uncertainty in public markets can lead to increased opportunities in private markets.
Demand for private financing continues to grow. Ten15 Capital seeks to capitalize on private credit opportunities predominantly direct lending through first-lien senior secured loans to US companies. The focus will be on Medical, Health Care, Technology, Food & Groceries and certain real estate models.
When banks hold back, we step in to service those RECESSION RESILIENT business that thrive in any environment.
We are getting defensive. What about you? Are you protected?
We are in uncertain times. The stock market is starting to rattle, the housing market is cracking, the banks are getting desperate, and the Fed cannot take control of inflation. We have entered uncharted territory. Winter is coming, both literally and metaphorically.
The problem is that the recession is here, most of us just haven’t noticed. These sudden market shifts take time to develop, but once they’re in full motion, it’s too late to do anything about it. It’s like the dinosaurs when the meteor hit. Don’t be the dinosaurs.
Thinking of you, our valued investors, we are getting defensive during this new economic cycle. That is why we created a new fund to make your wealth bulletproof. That’s what you need in times of crises.
This new fund is only open to investors who are seeking to grow their wealth during the coming economic winter. Our Private Credit Fund is a solution for income-focused investors seeking DEFENSIVE risk-adjusted returns.
Our goal is to protect against challenging markets with a focus on capital preservation.
Uncertainty in public markets can lead to increased opportunities in private markets. This is just how the economic machinery works. As demand for private financing continues to grow, Ten15 Capital seeks to capitalize on private credit opportunities predominantly direct lending through first-lien senior secured loans to US companies. The focus will be on Medical, Health Care, Technology, Food & Groceries and certain real estate models.
That’s right. It’s not multifamily and commercial real estate. When the market adjusts, so should your strategy. It is well-documented that during recessions, equities get crushed. That’s why we are taking advantage of a massive opportunity in a little-known model. At least not in mainstream. Funds like Blackstone, Apollo, Carlyle and Goldman Sachs are well aware, and they are taking their elite investors to this strategy. However, they’re not inviting you.
Ten15 Capital continues to be the Trojan Horse. We believe in challenging the status quo. We believe in taking care of our community.
We started a private equity fund, The Bulletproof Private Credit Fund, and we are only opening the doors to investors who are looking to participate in high-potential, diversified investment opportunities.
Let’s make sure your wealth doesn’t go the way of the dinosaurs. Don’t be the dinosaurs.
We are using technology and AI powered software to provide loans to Small Businesses through our innovative and cutting edge lending platform.
Loan Servicing with automation and customization to serve both Ten15 Capital and our end-user clients. The technology will automate key loan servicing tasks, like customer onboarding, applying payments, sending customer communications, performing collateral management, and updating loan status.
Payments & Collections through secure systems to store, process and collect payments, paired with the real-time borrower data and automated communications needed to increased collections.
Artificial Intelligence (AI) powers customer service. Providing tailored services means more potential customers and increased satisfaction. Data visibility lowers origination costs through retargeting ideal repeat borrowers.
Welcome to Lending As A Service.
WELCOME TO THE FUTURE
WHAT IS LaaS?
Lending as a service (LaaS) is a new wave in digital lending, and poised to be the future of lending. LaaS is sometimes referred to as “Marketplace Lending”, is a trend in the banking and financial services sector where banks and lenders are leveraging new technology to surface their products and services on platforms outside of their traditional banking channels (i.e. in a branch, online banking, etc.).
LaaS is a sub-category of Banking-as-a-Service (BaaS), which refers to cloud-based infrastructures and Application Programming Interfaces (APIs) being used to allow businesses to build, configure and manage their own financial services, breaking the stranglehold of traditional transaction banking models.
Banks, FinTech’s and the wider marketplace eco-system (often big tech giants) have started to collaborate in the sector of LaaS. These partnerships are aiming to squarely address the current friction that exists in the commercial loan application process, creating paperless journeys which occur early in the buying process, providing an improved banking experience and empowering the business prior to any cash flow issues.
DELIVERING PRIVATE CREDIT TO INCOME-FOCUSED INVESTORS
Alternative To Banks
The Fund’s credit strategy is focused on Direct Lending — the predominant asset class in the private credit universe. Direct Lending includes any debt held by — or extended to — privately held companies, and it most commonly involves non-bank institutions making loans to private companies.
The private company is obligated to pay back the full sum of the loan, plus interest, to the lending institution. Direct loans are senior in the capital stack or the structure of all capital that is invested into a company, secured by collateral, and offer floating interest rates.
NON-BANK LENDER sources and structures each transaction directly with the borrower.
PRIVATE COMPANY relies upon the lender to support ongoing growth initiatives.
PRINCIPAL & INTEREST, the borrower is obligated to pay back the full loan principal, with
interest, in accordance with the deal terms.
As recessions approach and sink in, banks tighten their lending. To provide context, loan growth at commercial banks decreased substantially and remained negative for almost four years after the 2007-08 financial crisis.
With over 70 banks having failed in 2023, many banks have become more reluctant to lend money to businesses and households — an intended side effect of the Fed's rate-hiking campaign.
Why it matters: New research shows that phenomenon playing out to an extraordinary degree. Making credit more expensive and harder to get will weigh on economic activity and quell inflation.
This spring's bank failures may have also sped up that process, though the extent to which that has happened remains unclear.
What's new: An analysis from Evercore ISI finds that the shift in bank lending standards has been the swiftest, and most dramatic, of any recent episodes of monetary policy tightening.
In some ways, that's to be expected: Easy lending conditions after the pandemic recession were met with a fierce campaign to cool down the economy in 2022.
Banks responded in kind: A surge in inflation and higher rates on the horizon gradually made firms more reluctant to lend, for fear of how borrowers would handle the macroeconomic backdrop.
Where it stands: The latest Senior Loan Officer Opinion Survey shows the largest share of banks (a net 51%) reporting tighter lending standards for larger and medium-sized firms since the period following the onset of the pandemic and, before that, the 2008 financial crisis.
In August 2023, Fed chair Jerome Powell said the economy is "facing headwinds from tighter credit conditions for households and businesses, which are likely to weigh on economic activity, hiring, and inflation."
The intrigue: In previous periods when banks tightened credit, the Fed lowered rates to encourage bank lending to grease the wheels of the economy.
"This is what makes this cycle different from others. In the past decades, conditions at some point became very tight, but it was not because of the Fed," says Casiraghi.
Then, "the Fed was trying to undo that, in some sense, because they were cutting rates to try to make credit flow to the economy. Here, we have the opposite."
Of note: An easy explanation for the historic shift in credit standards is just that the Fed has raised rates by a historic amount in a short period.
But even adjusting for the magnitude of rate hikes, "the tightening in credit standards observed now is twice as large as what it was" compared to the 2004-2006 tightening cycle, Casiraghi says.
MASSIVE PROBLEM =
The demand for Private Equity is on the rise, driven by a decrease in banks' involvement in the leveraged loan market.
Institutional lenders are scaling back their support for business owners and real estate investors due to concerns about economic
downturns, evolving governmental regulations, and successive interest rate hikes.
This surge in demand for Private Equity is unprecedented, as numerous enterprises are actively seeking funding for various activities
ranging from acquisitions to bolstering working capital.
Private Equity stands out as the preferred financial instrument for middle-market firms, real estate investors, and entrepreneurs.
Remarkably, even amidst market volatility, Private Equity maintains its robust performance and continues to expand its market presence.
The heightened levels of uninvested capital in the private equity sector contribute to an increased need for Direct Lending services.
Notably, Direct Lending has proven to be a versatile strategy, consistently generating current income with attractive yields regardless of
This is where we show up to save the businesses that are thriving even through economic turmoil. Industries we are looking to serve include: Health Care and Medical, Technology, Food & Housing, and Real Estate, among other recession-proof industries under consideration.