Private Credit

Private Credit

Name: Private Credit market index
Creator: AltStreet
License: https://altstreet.investments/terms

Direct lending, real estate debt and revenue-based financing: rate and spread benchmarks against platform effective rates and defaults.

Open offerings

248

of 1365 published in this category

Live series

latest print 2026-10-31

ICE BofA US High Yield Option-Adjusted Spread

3.23%

Daily · 2026-10-15

OpportunitiesFlowPriceOutcomeCited← Dashboard

Opportunities · Pro

Open offerings and new filings

feed with filters and watches →

Flow · Pro

How much capital is forming, and how fast

Form D pooled-fund flow needs a market-wide Form D lane; platform-level capital formation exists per platform in the Reg D views.

Not collected yet. The source is identified above and this section fills in when the collector ships.

Price

What the category's market is doing

SOFR, Prime, the 10-year Treasury, the ICE BofA high-yield option-adjusted spread, and Federal Reserve charge-off and delinquency rates on all bank loans, via FRED. Public benchmarks the platform rates are read against.

10-Year Treasury Constant Maturity Yield

Daily · percent · Public API

5.10%

2026-10-15 · -0.1 pts vs prior print

Source: Federal Reserve Board H.15 via FRED (DGS10) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Daily 10-year Treasury constant-maturity yield in percent, the term risk-free reference for longer-dated private credit and real estate debt. Source: Board of Governors of the Federal Reserve System, retrieved from FRED, Federal Reserve Bank of St. Louis.

Charge-Off Rate on All Loans, All Commercial Banks

Quarterly · percent · Public API

0.55%

2026-04-01 · -0.0 pts vs prior print

Source: Federal Reserve Board via FRED (CORALACBS) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Quarterly, seasonally adjusted, annualized net charge-offs as a percent of average loans at all US commercial banks. The banking system's realized credit loss rate, the base rate a platform's reported default figures should be compared with. Source: Board of Governors of the Federal Reserve System, retrieved from FRED, Federal Reserve Bank of St. Louis.

Delinquency Rate on All Loans, All Commercial Banks

Quarterly · percent · Public API

1.42%

2026-04-01 · -0.0 pts vs prior print

Source: Federal Reserve Board via FRED (DRALACBS) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Quarterly, seasonally adjusted, loans 30 or more days past due as a percent of total loans at all US commercial banks. Source: Board of Governors of the Federal Reserve System, retrieved from FRED, Federal Reserve Bank of St. Louis.

ICE BofA US High Yield Option-Adjusted Spread

Daily · percent · Public API

3.23%

2026-10-15 · -0.0 pts vs prior print

Source: ICE Data Indices via FRED (BAMLH0A0HYM2) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Daily option-adjusted spread of the ICE BofA US High Yield Index over Treasuries, in percentage points. The public-market price of sub-investment-grade credit risk; a private credit platform's advertised premium over it is what its investors are paid for illiquidity and platform risk. Source: ICE Data Indices, LLC, retrieved from FRED, Federal Reserve Bank of St. Louis. ICE BofA index data is used with attribution and may not be redistributed as a data feed.

Bank Prime Loan Rate

Daily · percent · Public API

7.00%

2026-10-13 · +0.0 pts vs prior print

Source: Federal Reserve Board H.15 via FRED (DPRIME) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Daily bank prime loan rate in percent. Small-business and consumer platform loans are often quoted against it. Source: Board of Governors of the Federal Reserve System, retrieved from FRED, Federal Reserve Bank of St. Louis.

Secured Overnight Financing Rate

Daily · percent · Public API

3.89%

2026-10-15 · +0.0 pts vs prior print

Source: Federal Reserve Bank of New York via FRED (SOFR) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Daily overnight Treasury repo rate in percent, the floating-rate base most private credit is priced over. Source: Federal Reserve Bank of New York, retrieved from FRED, Federal Reserve Bank of St. Louis.

Eagle Point NAV Index

Quarterly · index level · AltStreet derived

64.5

2026-06-30 · +0.3% vs prior print

Vehicles observed, 2026-06

Vehicle CIK	NAV	Prior NAV	Prior month
0001604174	$4.51	$5.7	2025-12
0002027033	$10.24	$10.21	2026-03

Month change 0.3% · 12-month change 0.3%. A valuation, not a return.

Source: Sponsor filings (253G2, 1-K, 1-SA, 10-Q) via AltStreet platform_performance_history · CSV

METHODOLOGY

Sponsor-reported net asset value per share for Eagle Point, chain-linked across the family's vehicles and rebased to 100 at the first observed month, with the count of vehicles observed that month as the secondary value. Each month's change is the median month-over-month NAV ratio across vehicles observed in both that month and their previous observation, so vehicles can enter and leave without breaking the series. Observations come from 253G2 offering supplements, 1-K and 1-SA reports and 10-Q filings ingested by AltStreet's Reg A lane. This is a valuation, not a trade or an investor return: it ignores distributions, entry and exit fees, and whether redemptions are honored at this NAV. Early months rest on few vehicles and annual or semiannual reports; later months on monthly supplements. Raw carries every vehicle's NAV, the month change, the 12-month change and, where reported, the median distribution yield.

Outcome

What investors got versus what was promised

Advertised targets across published notes against the fee stack from the offering documents; platform effective rates and defaults from loan tapes and BDC non-accruals from 10-Q XBRL are next.

Promised vs realized

Two populations: targets on published offerings, realized figures on exits with a disclosed outcome. Read side by side, never as one number.

Promised (median target)

14.5%

1,141 offerings with a stated target

Realized (median IRR)

5.0%

1 exits with a realized IRR

Middle half 5.0% to 5.0% · 0% negative · targets: middle half 12.0% to 17.0%

Realized outcomes
Measure	Value	n
Median multiple on cost	0.90x	2
Median hold	8.1 yrs	n/a
Exits recorded as a loss	5%	57
Latest exit	2026-09-10	n/a

By platform (exits with an outcome)
Platform	Exits	Median IRR	Median multiple	Loss rate
SMBX	53	n/a	n/a	0%
Worthy	2	n/a	0.90x	100%
The Oak Companies (Red Oak Capital)	1	n/a	n/a	100%
Iron Bridge Mortgage Fund (Iron Bridge Lending)	1	5.0%	n/a	0%

Source: AltStreet platform_exits (filing-sourced dispositions, 1-K asset sales and platform-reported exits) and published offering terms. Realized figures cover exits with a disclosed outcome, which over-represents platforms that disclose; a loss rate counts exits recorded as a loss over exits with any recorded type.

Fee stack

608 offerings with itemized fee layers from their filings. Median rate per fee type; the n is offerings carrying that type.

Fee layers by type
Fee	Offerings	Median rate	Charged
investor service	605	10%	ongoing
management	3	1.2%	quarterly
marketing	2	2%	one time

Rates are as stated in the offering document and are not on a common base: an acquisition fee is a one-time percent of purchase price, a management fee an annual percent of assets or equity, a performance fee a percent of profits. Source: AltStreet deal_fee_layers.

NAV per share

Latest reported net asset value per share by platform (median across its vehicles) and the 12-month change. From 1-K, 1-SA, 253G2 supplements and 10-Q filings.

Platforms reporting NAV
Platform	Vehicles	Latest NAV	As of	12-month change
Eagle Point Credit Company	6	$10.24	2026-06-30	-11.2%

NAV is the sponsor's own valuation, not a trade; a stable NAV says nothing about whether redemptions are being met. Redemption request and fulfillment fields are collected but not yet populated, so gating is not observable here yet.

Cited headlines

Licensed and headline-only sources

Cited with a source line; never ingested or charted.

Cliffwater Direct Lending IndexQuarterly direct lending returns (licensed; headline only)
Federal Reserve SLOOSSenior loan officer lending standards, quarterly · source

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