Issue No. 1

Over the past six years, we've learned a lot of lessons about building an investment firm, managing funds, and investing in our niche corner of private credit. As we cross the six year mark, we thought some of these learnings could be useful or maybe just interesting to others.

We’ll give you an under the hood look at how we’re building this business and how we invest. The goal is to help you get to know us better while hopefully providing some value to your pursuits.

Thanks for being here as we launch this newsletter project! Please reach out with any feedback, we want this to be the first email you read when you look at your inbox in the morning.

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-Jillian

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Specialty Finance Tip: Always reconcile your loan servicer statements loan principle balance from the end of the prior period (usually monthly) to the start of the current period. We see issues here with 1 in every ~15 servicers. There aren't issues every month, but one miss is enough to throw all future calculations off.

In the cases where we see this happening, it’s usually just a slight difference on just a handful of loans out of hundreds. Or, a few loans go missing. Either way, the prior month end, should ALWAYS match the start of current month’s tape.

Follow or contribute to the discussion here.

-Conor

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