Overview
The Pallas Senior Mortgage Fund is an actively managed private credit fund operated by Pallas Capital in Auckland, investing in a portfolio of registered first mortgage loans secured against commercial real estate in New Zealand and Australia. The fund targets a regular monthly income above the prevailing short-term bank bill rate, with portfolio loan-to-value ratios capped at a conservative level and supported by a parent-company balance-sheet buffer. It is structured as an evergreen, open-ended vehicle with a redemption notice period, and is available to wholesale investors only.
Fund Overview
Actively managed portfolio of registered first mortgage loans covering NZ and Australian commercial real estate. Target return ~7.42% p.a. (5.0% p.a. plus 30-day BKBM, paid monthly). Max weighted portfolio LVR of 67.5% with $10m parent-company balance-sheet buffer. 6 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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Quick Info
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 Senior Mortgage Fund?
Actively managed portfolio of registered first mortgage loans covering NZ and Australian commercial real estate. Target return ~7.42% p.a. (5.0% p.a. plus 30-day BKBM, paid monthly). Max weighted portfolio LVR of 67.5% with $10m parent-company balance-sheet buffer. 6 month redemption notice.
Who manages Pallas Senior Mortgage Fund?
Pallas Senior Mortgage 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 Senior Mortgage Fund?
Pallas Senior Mortgage 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 Senior Mortgage Fund evergreen or a closed-end fund?
Pallas Senior Mortgage 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 Senior Mortgage Fund wholesale-only?
Yes — Pallas Senior Mortgage 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 Senior Mortgage Fund?
Pallas Senior Mortgage 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.