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We provide ratings on various types of funds which offers benefits for asset managers, funds sponsors and fund investors
Get in touch with us to find out more.
S&P Global Ratings has been rating funds since 1984, with ratings on over 500 funds. We provide ratings on various types of funds, including
Our Fund Credit Ratings’ analytical team has the deep knowledge and experience necessary to assess and rate the various fund structures in the market. The team is made up of 21 professionals with nearly 240 cumulative years with S&P Global and approximately 200 years with the Fund Credit Ratings team.
For Asset Managers/Fund Sponsors:
For Fund Investors:
We assign global scale counterparty credit ratings to assess the stand-alone creditworthiness of several types of Alternative Investment Funds (AIFs), based on the investments they make, trading strategies they employ, and funding structures they maintain. We also assign issue ratings to debt instruments issued out of AIF structures.
Alternative Investment Funds typically include:
Assets within these funds can include but are not limited to:
For rated private equity structures, we consider whether the funds are primarily buy and hold with a focus on harvesting investments. We also consider the funds’ maturity attributes (e.g. final maturity within 7–12 years).
In our ratings of hedge funds, we consider factors such as trading strategy, whether the portfolio has meaningful turnover, and funds itself with capital that varies in degree of permanence.
In cases where AIFs are not structured as private equity funds or hedge funds, we consider whether the fund has characteristics similar to a hedge fund or private equity fund, and executes a strategy that includes elements of both private equity investment and hedge fund trading in order to determine its ratability within the AIF criteria.
We rate AIFs on either a private/confidential or public basis.
The CFO criteria is designed to rate debt backed by a diversified fund of funds. The criteria and models are limited to assessing funds of funds with the following underlying fund characteristics:
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