Overview
The Pallas PFTNZ Feeder Fund is a New Zealand private credit fund managed by Pallas Capital in Auckland, offering exposure to a securitised first mortgage lending facility established in 2022. The fund holds a diversified and seasoned portfolio of first mortgage loans with a conservative weighted portfolio loan-to-value ratio and a first-loss investment safeguard on a look-through basis. It is structured as an evergreen, open-ended fund available to wholesale investors only, targets a regular monthly income at a floating rate margin above the 30-day BKBM, and requires a notice period for redemptions.
Fund Overview
First mortgage fund providing exposure to a securitised lending facility (Est. 2022) with a diversified and seasoned portfolio, now majority funded by Westpac New Zealand. Target return ~6.92% p.a. (4.5% p.a. plus 30-day BKBM, paid monthly). Max weighted portfolio LVR of 62.7% with 5% first-loss investment safeguard on a look-through basis. 3 month redemption notice.
Asset Class
Private Credit
Structure
Open-Ended
Open for Subscription
Evergreen FundWholesale OnlyThis is an evergreen fund — open to qualifying wholesale investors year-round. Subscription details, minimum investment, and redemption terms are set out in the fund's Information Memorandum.
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This information is for wholesale investors only and does not constitute financial advice. All investments carry risk. Please seek professional advice before making investment decisions.
Frequently Asked Questions
What is Pallas PFTNZ Feeder Fund?
First mortgage fund providing exposure to a securitised lending facility (Est. 2022) with a diversified and seasoned portfolio, now majority funded by Westpac New Zealand. Target return ~6.92% p.a. (4.5% p.a. plus 30-day BKBM, paid monthly). Max weighted portfolio LVR of 62.7% with 5% first-loss investment safeguard on a look-through basis. 3 month redemption notice.
Who manages Pallas PFTNZ Feeder Fund?
Pallas PFTNZ Feeder Fund is managed by Pallas Capital (FSPR FSP1004241, NZBN 9429050658909) based in Auckland, New Zealand. Manager registration on the Financial Service Providers Register is a legal requirement under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 and does not itself constitute an endorsement.
What asset class is Pallas PFTNZ Feeder Fund?
Pallas PFTNZ Feeder Fund is classified as Private Credit on Wholesale Investor NZ. Asset-class classification reflects the fund's stated investment focus per its Information Memorandum and is provided for navigation purposes only — review the IM for the full strategy and risk profile.
Is Pallas PFTNZ Feeder Fund evergreen or a closed-end fund?
Pallas PFTNZ Feeder Fund is an evergreen fund — it is permanently open for subscription rather than running on fixed vintages. New investors can typically apply at any time subject to capacity, manager discretion, and the fund's stated subscription windows. Redemption terms are set in the Information Memorandum and vary by fund.
Is Pallas PFTNZ Feeder Fund wholesale-only?
Yes — Pallas PFTNZ Feeder Fund is offered on a wholesale-only basis under Schedule 1 of the Financial Markets Conduct Act 2013. Subscription requires self-certification under one of the seven Schedule 1 pathways (typically the NZ$5M net-assets "large person" pathway or an accountant- or lawyer-signed eligible-investor certificate per Clauses 38-40). Wholesale-only funds do not publish a retail Product Disclosure Statement and do not appear on the Disclose Register.
Where can I read the IM or PDS for Pallas PFTNZ Feeder Fund?
Pallas PFTNZ Feeder Fund is a wholesale-only fund and the manager does not publish a retail-accessible Information Memorandum on Wholesale Investor NZ. Wholesale-only funds typically share the IM directly with prospective investors after a Schedule 1 self-certification under the Financial Markets Conduct Act 2013. Contact the manager to request the IM and the certification process.