Hybrid fund models are attracting increased interest from managers, according to Michael Von Bevern, co-managing director of the Americas at Suntera Fund Services.
Von Bevern (pictured) told Alternative Credit Investor that the rapidly evolving private credit landscape is leading to managers seeking new structures to help them balance transparency with flexibility.
“The private credit landscape is evolving quickly, and so are the fund structures. While traditional closed-end vehicles still dominate, we’re seeing growing interest in hybrid models – combining the stability of closed-end structures with the flexibility of open-end features,” he said.
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“Interval funds and even private credit ETFs are gaining traction as managers look to align liquidity terms with portfolio strategy while meeting investor demand for access and transparency.
“These new structures can offer a compelling middle ground, especially as private credit continues to scale and attract a broader investor base.”
He added that increased LP expectations are driving a need for “real-time, customisable reporting”, particularly in complex, multi-strategy credit funds.
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“Fund managers are leaning on administrators to deliver transparency without sacrificing the fund’s agility,” he said.
He said managers also increasingly want dashboards and APIs that “allow them to flex how and what they report, without locking into rigid templates”, which means technology and data integration need to adapt.
“Private credit is not only here to stay, but is expected to grow significantly in the coming years. Investing in the right technology and infrastructure now is not just a necessity – it’s a strategic advantage.”
