A PPM for private credit funds and direct-lending vehicles

The private-credit framework follows the standard PPM skeleton and adds structured inputs for borrower and collateral profiles, underwriting standards, concentration limits, and target portfolio composition. Its suggested risk library includes borrower default, collateral recovery, concentration, loan liquidity, and rate risk; no risk is selected automatically.

PPMWizard does not calculate portfolio yield, target net IRR, or default-and-recovery sensitivities. Those analyses should be prepared and validated separately, while specialized covenants, servicing terms, and exceptions belong in the relevant narrative section or custom risks and require counsel review.

Use it for a direct-lending fund, a commercial real-estate bridge-debt program, a specialty-finance vehicle, a venture-debt sleeve, or a single-loan SPV. The PPM disclosure is separate from the underlying loan documents.

If the thesis is primarily equity with debt mixed in opportunistically, compare the real-estate or business-acquisition workflow. The private-credit framework is designed for offerings whose expected return is primarily yield.

A private-credit vehicle may use an LP or LLC, charge a management fee, and allocate returns through a preferred return or carried-interest structure. Single-loan SPVs and discretionary funds require different concentration, deployment, and governance disclosure. Counsel must reconcile the fee, distribution, lending, and governing terms across the document set.