Invest in Private Credit.

Invest in Private Credit.

Lower minimums, quarterly liquidity, and 0% advisory fees for your first $1 million invested.²

Backed by sophisticated venture capital firms

And backed by individual investors drawing experience from

Backed by sophisticated venture capital firms

And backed by individual investors drawing experience from

Backed by sophisticated venture capital firms

And backed by individual investors drawing experience from

Backed by sophisticated venture capital firms

And backed by individual investors drawing experience from

Private Credit.
The Constant Way.

Our Methodology

Among other criteria, we look for funds with:

Strong Yield - current distribution rate of at least 9%.

Attractive Relative Return - higher historical return than the public loan and bond markets.⁵

Robust credit protection - senior secured loans comprising over 90% of their portfolio, and average loan-to-value below 50%.

Trusted management - reputable manager with at least $10 Billion in assets under management across their funds.

Why Private Credit?

Why Private Credit?

Strong Returns

Over the last 20 years, private credit returned ~9% annually.⁶

Strong Returns

Over the last 20 years, private credit returned ~9% annually.⁶

Strong Returns

Over the last 20 years, private credit returned ~9% annually.⁶

Robust Risk Profile

Despite higher returns, private credit has historically shown lower risk than public credit.

Robust Risk Profile

Despite higher returns, private credit has historically shown lower risk than public credit.

Robust Risk Profile

Despite higher returns, private credit has historically shown lower risk than public credit.

Diversification

Potential for a low correlation to other asset classes can provide smart diversification.

Diversification

Potential for a low correlation to other asset classes can provide smart diversification.

Diversification

Potential for a low correlation to other asset classes can provide smart diversification.

Regular Income

Historically, much of the return from private credit has come in the form of regular distributions.

Regular Income

Historically, much of the return from private credit has come in the form of regular distributions.

Regular Income

Historically, much of the return from private credit has come in the form of regular distributions.

Return Premium

Investors can be compensated with higher returns in exchange for potential lower liquidity.

Return Premium

Investors can be compensated with higher returns in exchange for potential lower liquidity.

Return Premium

Investors can be compensated with higher returns in exchange for potential lower liquidity.

Room for Talent

Private credit markets can be inefficient, creating opportunities for high-quality funds.

Room for Talent

Private credit markets can be inefficient, creating opportunities for high-quality funds.

Room for Talent

Private credit markets can be inefficient, creating opportunities for high-quality funds.

Private credit has shown attractive historical returns.

0% advisory fees on your first $1 million invested.²

We're that confident you'll love us. Then, just 0.18%.

A rapidly growing asset class.

A rapidly growing asset class.

A rapidly growing asset class.

The private credit industry grew 400%+ since 2010.⁸ Yet, it has been dominated by institutions and ultra-wealthy investors: we're on a mission to change that.

The private credit industry grew 400%+ since 2010.⁸ Yet, it has been dominated by institutions and ultra-wealthy investors: we're on a mission to change that.

Private credit has historically shown resilient returns.

Private credit has historically shown resilient returns.

Private credit has historically shown resilient returns.

During the Great Financial Crisis - a time of historic market stress - the maximum drawdown of private credit was 8%, and it recovered in 4 quarters; this compares to the stock market’s max drawdown of 46%, which took 18 quarters to recover.⁹

During the Great Financial Crisis - a time of historic market stress - the maximum drawdown of private credit was 8%, and it recovered in 4 quarters; this compares to the stock market’s max drawdown of 46%, which took 18 quarters to recover.⁹

During the Great Financial Crisis - a time of historic market stress - the maximum drawdown of private credit was 8%, and it recovered in 4 quarters; this compares to the stock market’s max drawdown of 46%, which took 18 quarters to recover.⁹

Potential to enhance your portfolio risk profile.

Potential to enhance your portfolio risk profile.

Potential to enhance your portfolio risk profile.

Debt is senior to equity, so equity investors “cushion” debt investors from declines in value. This can increase the stability of returns for credit investors.

We are a unique firm, run by unique people.
Our goal is to bring something new to Planet Earth.

Not just another finance company. Not just another technology company. We're here because we truly love investing, and genuinely want to help you.

We are a unique firm, run by unique people.
Our goal is to bring something new to Planet Earth.

Not just another finance company. Not just another technology company. We're here because we truly love investing, and genuinely want to help you.

We are a unique firm, run by unique people. Our goal is to bring something new to Planet Earth.

Not just another finance company. Not just another technology company. We're here because we truly love investing, and genuinely want to help you.

We are a unique firm, run by unique people.
Our goal is to bring something new to Planet Earth.

Not just another finance company. Not just another technology company. We're here because we truly love investing, and genuinely want to help you.

Backed by sophisticated venture capital firms

And backed by individual investors drawing experience from

Backed by sophisticated venture capital firms

And backed by individual investors drawing experience from

Backed by sophisticated venture capital firms

And backed by individual investors drawing experience from

Backed by sophisticated venture capital firms

And backed by individual investors drawing experience from

A Better Way to Invest.

We are experts, excited to provide new opportunities for your portfolio. Constant is an exclusive investment community, available on an invite-only basis. Join our waitlist, and we will get in touch.

A Better Way to Invest.

We are experts, excited to provide new opportunities for your portfolio. Constant is an exclusive investment community, available on an invite-only basis. Join our waitlist, and we will get in touch.

A Better Way to Invest.

We are experts, excited to provide new opportunities for your portfolio. Constant is an exclusive investment community, available on an invite-only basis. Join our waitlist, and we will get in touch.

445 Park Avenue, 9th Floor
New York City, NY 10022

Copyright © 2025, Jottix Inc. (D.B.A. Constant) All Rights Reserved

Important Information, Terms and Disclosures:
Constant is an investment adviser registered with the State of New York. Registration does not imply a certain level of skill or training. Constant’s investment advisory services are available only to residents of the United States in jurisdictions where Constant is registered or is exempt from the applicable registration requirements. By using this website, you accept and agree to the Constant Terms of Use and Privacy Policy. Please refer to Constant’s Disclosure Brochure and Important Disclosures for additional information.

Use of entities' marks and/or logos is for informational purposes only and does not constitute affiliation with, or endorsement or sponsorship by, such entities.

Sources and Notes:

(1) "Institutional-grade” refers to funds with significant assets under management, operated by reputable institutional firms.


(2) A 0.18% advisory fee applies to investments exceeding $1 million, which we believe remains highly competitive compared to industry standards. This refers solely to our advisory fee; other fees, including but not limited to custodial fees and fees charged by underlying fund managers, may apply.

Minimum investment amounts vary by fund and may be greater than $10,000. “Periodic liquidity”, "semi-annual liquidity", "quarterly liquidity" and "flexible liquidity options" refer to periodic repurchase offers made by the funds, which may vary between funds in frequency and availability. "Simplified tax forms” and "simple tax reporting" refers to investments expected to issue Form 1099 rather than Schedule K-1; however, tax reporting requirements may vary by fund.

(3) Historical return figures from "Private Markets Review" by McKinsey & Company. Data is as of September 30, 2023. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. Performance is measured using the IRR of funds across the 2011 - 2020 vintage years.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(4) “Attractive Relative Return” refers to a historical return that exceeds the performance of broad equity market indices, specifically the Russell 3000 and S&P 500, measured since the fund’s inception.


(5) “Attractive Relative Return” refers to a historical return that exceeds the performance of broad indices, specifically the Morningstar LSTA US Leveraged Loan Index and the Bloomberg US Aggregate Index. Distribution rates and loan portfolio compositions are subject to change and may vary over time.


(6) Historical return figures from "Understanding Private Credit" by GSAM Insights. Data is as of December 31, 2023. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. "Public Loans" is represented by the S&P LSTA Leveraged Loan Index, and "High Yield" is represented by the Bloomberg Global High Yield Index.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(7) Historical return figures from Cambridge Associates. Data is as of June 30, 2024. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. "MSCI Stock Market Index" is represented by MSCI World/MSCI All Country World Index.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(8) Historical "Private Credit Total Assets Under Management" figures from the Federal Reserve, FEDS Notes, "Growth in Private Debt Allocations". The graph shown represents the data from 2010 through 2023, with the 2023 data as of June 2023. This information is provided for educational purposes only.

Historical "Private Equity Total Assets Under Management" figures from EY "The rise and rise of private capital". The graph shown represents the data from 2012 through 2023, with the 2023 data as of Q1 2023. The figures represent the combined value of private equity and venture capital. This information is provided for educational purposes only.


(9) Stephen Nesbitt, “Private Debt”, data from September 2004 through December 2021. These are general statistics based on indexes for each asset class, and are not representative of Constant's performance or of any specific fund’s performance. These returns do not represent the actual or hypothetical returns of any account managed by Constant. This information is provided for educational purposes only. From left to right, the indexes are Bloomberg US Aggregate Treasuries, Cliffwater Direct Lending Index, HFRI Fund Weighted, NCREIF Property, Cambridge US Buyout, Bloomberg High Yield, Morningstar LSTA US Leveraged Loan 100, and Russell 3000. The Cliffwater Direct Lending Index uses an unlevered methodology, and leverage has the effect of increasing the volatility of returns. Past performance is not indicative of future results.

445 Park Avenue, 9th Floor
New York City, NY 10022

Copyright © 2025, Jottix Inc. (D.B.A. Constant) All Rights Reserved

Important Information, Terms and Disclosures:
Constant is an investment adviser registered with the State of New York. Registration does not imply a certain level of skill or training. Constant’s investment advisory services are available only to residents of the United States in jurisdictions where Constant is registered or is exempt from the applicable registration requirements. By using this website, you accept and agree to the Constant Terms of Use and Privacy Policy. Please refer to Constant’s Disclosure Brochure and Important Disclosures for additional information.

Use of entities' marks and/or logos is for informational purposes only and does not constitute affiliation with, or endorsement or sponsorship by, such entities.

Sources and Notes:

(1) "Institutional-grade” refers to funds with significant assets under management, operated by reputable institutional firms.


(2) A 0.18% advisory fee applies to investments exceeding $1 million, which we believe remains highly competitive compared to industry standards. This refers solely to our advisory fee; other fees, including but not limited to custodial fees and fees charged by underlying fund managers, may apply.

Minimum investment amounts vary by fund and may be greater than $10,000. “Periodic liquidity”, "semi-annual liquidity", "quarterly liquidity" and "flexible liquidity options" refer to periodic repurchase offers made by the funds, which may vary between funds in frequency and availability. "Simplified tax forms” and "simple tax reporting" refers to investments expected to issue Form 1099 rather than Schedule K-1; however, tax reporting requirements may vary by fund.

(3) Historical return figures from "Private Markets Review" by McKinsey & Company. Data is as of September 30, 2023. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. Performance is measured using the IRR of funds across the 2011 - 2020 vintage years.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(4) “Attractive Relative Return” refers to a historical return that exceeds the performance of broad equity market indices, specifically the Russell 3000 and S&P 500, measured since the fund’s inception.


(5) “Attractive Relative Return” refers to a historical return that exceeds the performance of broad indices, specifically the Morningstar LSTA US Leveraged Loan Index and the Bloomberg US Aggregate Index. Distribution rates and loan portfolio compositions are subject to change and may vary over time.


(6) Historical return figures from "Understanding Private Credit" by GSAM Insights. Data is as of December 31, 2023. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. "Public Loans" is represented by the S&P LSTA Leveraged Loan Index, and "High Yield" is represented by the Bloomberg Global High Yield Index.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(7) Historical return figures from Cambridge Associates. Data is as of June 30, 2024. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. "MSCI Stock Market Index" is represented by MSCI World/MSCI All Country World Index.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(8) Historical "Private Credit Total Assets Under Management" figures from the Federal Reserve, FEDS Notes, "Growth in Private Debt Allocations". The graph shown represents the data from 2010 through 2023, with the 2023 data as of June 2023. This information is provided for educational purposes only.

Historical "Private Equity Total Assets Under Management" figures from EY "The rise and rise of private capital". The graph shown represents the data from 2012 through 2023, with the 2023 data as of Q1 2023. The figures represent the combined value of private equity and venture capital. This information is provided for educational purposes only.


(9) Stephen Nesbitt, “Private Debt”, data from September 2004 through December 2021. These are general statistics based on indexes for each asset class, and are not representative of Constant's performance or of any specific fund’s performance. These returns do not represent the actual or hypothetical returns of any account managed by Constant. This information is provided for educational purposes only. From left to right, the indexes are Bloomberg US Aggregate Treasuries, Cliffwater Direct Lending Index, HFRI Fund Weighted, NCREIF Property, Cambridge US Buyout, Bloomberg High Yield, Morningstar LSTA US Leveraged Loan 100, and Russell 3000. The Cliffwater Direct Lending Index uses an unlevered methodology, and leverage has the effect of increasing the volatility of returns. Past performance is not indicative of future results.

445 Park Avenue, 9th Floor
New York City, NY 10022

Copyright © 2025, Jottix Inc. (D.B.A. Constant) All Rights Reserved

Important Information, Terms and Disclosures:
Constant is an investment adviser registered with the State of New York. Registration does not imply a certain level of skill or training. Constant’s investment advisory services are available only to residents of the United States in jurisdictions where Constant is registered or is exempt from the applicable registration requirements. By using this website, you accept and agree to the Constant Terms of Use and Privacy Policy. Please refer to Constant’s Disclosure Brochure and Important Disclosures for additional information.

Use of entities' marks and/or logos is for informational purposes only and does not constitute affiliation with, or endorsement or sponsorship by, such entities.

Sources and Notes:

(1) "Institutional-grade” refers to funds with significant assets under management, operated by reputable institutional firms.


(2) A 0.18% advisory fee applies to investments exceeding $1 million, which we believe remains highly competitive compared to industry standards. This refers solely to our advisory fee; other fees, including but not limited to custodial fees and fees charged by underlying fund managers, may apply.

Minimum investment amounts vary by fund and may be greater than $10,000. “Periodic liquidity”, "semi-annual liquidity", "quarterly liquidity" and "flexible liquidity options" refer to periodic repurchase offers made by the funds, which may vary between funds in frequency and availability. "Simplified tax forms” and "simple tax reporting" refers to investments expected to issue Form 1099 rather than Schedule K-1; however, tax reporting requirements may vary by fund.

(3) Historical return figures from "Private Markets Review" by McKinsey & Company. Data is as of September 30, 2023. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. Performance is measured using the IRR of funds across the 2011 - 2020 vintage years.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(4) “Attractive Relative Return” refers to a historical return that exceeds the performance of broad equity market indices, specifically the Russell 3000 and S&P 500, measured since the fund’s inception.


(5) “Attractive Relative Return” refers to a historical return that exceeds the performance of broad indices, specifically the Morningstar LSTA US Leveraged Loan Index and the Bloomberg US Aggregate Index. Distribution rates and loan portfolio compositions are subject to change and may vary over time.


(6) Historical return figures from "Understanding Private Credit" by GSAM Insights. Data is as of December 31, 2023. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. "Public Loans" is represented by the S&P LSTA Leveraged Loan Index, and "High Yield" is represented by the Bloomberg Global High Yield Index.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(7) Historical return figures from Cambridge Associates. Data is as of June 30, 2024. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. "MSCI Stock Market Index" is represented by MSCI World/MSCI All Country World Index.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(8) Historical "Private Credit Total Assets Under Management" figures from the Federal Reserve, FEDS Notes, "Growth in Private Debt Allocations". The graph shown represents the data from 2010 through 2023, with the 2023 data as of June 2023. This information is provided for educational purposes only.

Historical "Private Equity Total Assets Under Management" figures from EY "The rise and rise of private capital". The graph shown represents the data from 2012 through 2023, with the 2023 data as of Q1 2023. The figures represent the combined value of private equity and venture capital. This information is provided for educational purposes only.


(9) Stephen Nesbitt, “Private Debt”, data from September 2004 through December 2021. These are general statistics based on indexes for each asset class, and are not representative of Constant's performance or of any specific fund’s performance. These returns do not represent the actual or hypothetical returns of any account managed by Constant. This information is provided for educational purposes only. From left to right, the indexes are Bloomberg US Aggregate Treasuries, Cliffwater Direct Lending Index, HFRI Fund Weighted, NCREIF Property, Cambridge US Buyout, Bloomberg High Yield, Morningstar LSTA US Leveraged Loan 100, and Russell 3000. The Cliffwater Direct Lending Index uses an unlevered methodology, and leverage has the effect of increasing the volatility of returns. Past performance is not indicative of future results.

445 Park Avenue, 9th Floor
New York City, NY 10022

Copyright © 2025, Jottix Inc. (D.B.A. Constant) All Rights Reserved

Important Information, Terms and Disclosures:
Constant is an investment adviser registered with the State of New York. Registration does not imply a certain level of skill or training. Constant’s investment advisory services are available only to residents of the United States in jurisdictions where Constant is registered or is exempt from the applicable registration requirements. By using this website, you accept and agree to the Constant Terms of Use and Privacy Policy. Please refer to Constant’s Disclosure Brochure and Important Disclosures for additional information.

Use of entities' marks and/or logos is for informational purposes only and does not constitute affiliation with, or endorsement or sponsorship by, such entities.

Sources and Notes:

(1) "Institutional-grade” refers to funds with significant assets under management, operated by reputable institutional firms.


(2) A 0.18% advisory fee applies to investments exceeding $1 million, which we believe remains highly competitive compared to industry standards. This refers solely to our advisory fee; other fees, including but not limited to custodial fees and fees charged by underlying fund managers, may apply.

Minimum investment amounts vary by fund and may be greater than $10,000. “Periodic liquidity”, "semi-annual liquidity", "quarterly liquidity" and "flexible liquidity options" refer to periodic repurchase offers made by the funds, which may vary between funds in frequency and availability. "Simplified tax forms” and "simple tax reporting" refers to investments expected to issue Form 1099 rather than Schedule K-1; however, tax reporting requirements may vary by fund.

(3) Historical return figures from "Private Markets Review" by McKinsey & Company. Data is as of September 30, 2023. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. Performance is measured using the IRR of funds across the 2011 - 2020 vintage years.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(4) “Attractive Relative Return” refers to a historical return that exceeds the performance of broad equity market indices, specifically the Russell 3000 and S&P 500, measured since the fund’s inception.


(5) “Attractive Relative Return” refers to a historical return that exceeds the performance of broad indices, specifically the Morningstar LSTA US Leveraged Loan Index and the Bloomberg US Aggregate Index. Distribution rates and loan portfolio compositions are subject to change and may vary over time.


(6) Historical return figures from "Understanding Private Credit" by GSAM Insights. Data is as of December 31, 2023. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. "Public Loans" is represented by the S&P LSTA Leveraged Loan Index, and "High Yield" is represented by the Bloomberg Global High Yield Index.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(7) Historical return figures from Cambridge Associates. Data is as of June 30, 2024. This information is provided for educational purposes only. These returns are general, and are not representative of Constant’s performance or of any specific funds you may invest in via Constant. The return figures do not represent the actual or hypothetical returns of any account managed by Constant. Past performance is no guarantee of future results. "MSCI Stock Market Index" is represented by MSCI World/MSCI All Country World Index.

The index returns should be considered for comparison purposes only and the comparison does not mean that there necessarily will be a correlation between the returns of any given fund or asset class, on the one hand, and the indices, on the other. The indices should not be understood to represent appropriate benchmarks against which to compare the performance of any given fund or asset class's performance; but, rather, is included to allow for comparison to that of certain well-known and widely recognized indices. Investments cannot be made directly in indices and such indices may re-invest dividends and income.


(8) Historical "Private Credit Total Assets Under Management" figures from the Federal Reserve, FEDS Notes, "Growth in Private Debt Allocations". The graph shown represents the data from 2010 through 2023, with the 2023 data as of June 2023. This information is provided for educational purposes only.

Historical "Private Equity Total Assets Under Management" figures from EY "The rise and rise of private capital". The graph shown represents the data from 2012 through 2023, with the 2023 data as of Q1 2023. The figures represent the combined value of private equity and venture capital. This information is provided for educational purposes only.


(9) Stephen Nesbitt, “Private Debt”, data from September 2004 through December 2021. These are general statistics based on indexes for each asset class, and are not representative of Constant's performance or of any specific fund’s performance. These returns do not represent the actual or hypothetical returns of any account managed by Constant. This information is provided for educational purposes only. From left to right, the indexes are Bloomberg US Aggregate Treasuries, Cliffwater Direct Lending Index, HFRI Fund Weighted, NCREIF Property, Cambridge US Buyout, Bloomberg High Yield, Morningstar LSTA US Leveraged Loan 100, and Russell 3000. The Cliffwater Direct Lending Index uses an unlevered methodology, and leverage has the effect of increasing the volatility of returns. Past performance is not indicative of future results.