NXT Capital has partnered with Cresset Partners, the private investment arm of $50bn wealth management and multi-family office Cresset Capital.
This will give individuals and family offices on Cresset’s platform access to direct private lower middle market investments with a focus on direct lending deals.
Cresset’s Private Credit Fund will provide capital for the portfolio.
Read more: Private markets allocations predicted to rise by two thirds of financial advisers
These will be comprised of direct investments in floating rate, senior secured loans to lower middle market companies.
“As the middle market lending market has grown rapidly over the last few years, sophisticated RIAs like Cresset are increasingly looking to focus on the areas of opportunity within the asset class,” said Ted Denniston, co-head of NXT Capital.
“We look forward to this partnership with Cresset and to providing our specialised expertise and solutions to this investor base.”
Read more: Retail investors will drive 50pc of private market flows by 2027
“As investment opportunities in private credit become more nuanced and investor interest continues to grow, we continuously look for experienced and specialised managers to enhance and broaden our Private Credit Fund,” said Kevin O’Donnell, executive managing director and head of the private funds group at Cresset.
This is the latest in a growing trend of private credit firms making inroads with wealth firms and retail investors.
Earlier today, the US alternative platform for financial advisers CAIS added BlackRock, Carlyle, Franklin Templeton and KKR model portfolios to its marketplace.
