We originate first lien, senior secured loans to companies in the safest blue-chip jurisdictions: the United States, Europe, and Australia, underwritten by dedicated teams on the ground in each.
Credit’s appeal is that the return is contracted. We get paid first, in cash, on a schedule, and at Alpha Wave, aiming for rates competitive with equity. What makes that return real is the structure behind it: low loan-to-value, hard asset collateral on top of a first lien on the business, and covenants tighter than market standard. We earn our returns by careful structuring, not by lending to riskier companies.
We only lend where we can see the whole picture. We look beyond conventional credit analysis and pay careful attention to where AI can change the outcome. Where we lack a multi-year view of a sector and there is no hard collateral behind the loan, we don’t lend, which is why we have not made software loans.
The best loans are not competed for. We strive for a reputation for timely responses and for structuring around complexity to create funding solutions for worthy borrowers and generate an attractive return for our investors.
The deepest blue-chip private credit markets in the world, with a large pool of high-quality borrowers, strong creditor laws, predictable courts, and enforceable property rights.
The deepest and most entrepreneurial market, with persistent demand for nimble, structured solutions.
Large yet thinly covered and less competitive — earlier in the bank disintermediation process.
A dynamic economy still early in bank disintermediation, with few alternative credit players at scale.