SS&C Blog

BLOGS. April 22, 2024

Democratizing Private Credit – Interval/Tender Funds

Registered ‘40 Act interval and tender offer funds have emerged as a promising avenue for investors seeking exposure to private credit. These funds, characterized by their interval structure and regulatory framework under the Investment Company Act of 1940, offer unique advantages and opportunities in the realm of alternative investments. While the terms interval and tender offer fund are used interchangeably, there are some modest differences. Interval funds have more flexibility in the process of selling shares, while tender offer funds have greater flexibility in the process of buying shares back. In this blog, we delve into the growth opportunities of these hybrid structures and discuss key operational requirements associated with launching, particularly in the realm of private credit.