Private credit alternative
Seek private-credit-like income with individual CUSIPs, independent daily pricing, and a defined maturity condition.
Explore Private credit alternativeInstitutions
Your mandate deserves an asset built to answer it.
First Principle starts with the appetite, treatment, liquidity, and reporting responsibilities your institution must defend.
Three institutional starting points.
Enhanced yield
Commission terms around the risk budget, capital treatment, underlying, and income target.
Explore Enhanced yieldStable income
Build laddered contractual income with named risks and a rolling maturity schedule.
Explore Stable incomeYour appetite. Your treatment. Your terms.
Questions for institutions
View all FAQsHow is an institutional mandate translated into a portfolio specification?
The process begins with objectives, liabilities, liquidity, governance, capital treatment, accounting constraints, prohibited exposures, reporting needs, and decision authority. Those requirements are translated into allowable structures, issuer and maturity limits, monitoring rules, and escalation responsibilities. Legal, tax, accounting, regulatory, and investment conclusions require the institution’s own qualified reviewers.
Can an institution keep its existing custodian and provider team?
The proposed model can be designed to work with an existing custodian, committee, consultant, legal counsel, accountant, or other provider when the arrangement supports it. Individual CUSIPs may be delivered to the selected custodian, but custody, trading authority, reporting, supervision, and each party’s responsibilities must be documented in final agreements.
Write the specification.
Tell us the responsibility, constraints, and treatment the allocation must satisfy.
YoursThe appetite
DefinedThe terms
VisibleThe risk
The mandate was always yours. The asset can be too.
Begin institutional intake