SCIO Capital’s Partners Fund I is in its planned final realisation of asset values, five years after the launch of the closed-ended fund. The fund, which invested in core European private structured credit on behalf of institutional and other professional investors, returned 11.5 per cent pa net of fees over its lifetime.
SCIO Partners Fund I benefited from significant supply and demand imbalances that still exist in certain European secured lending markets, which are mainly caused by the disadvantageous regulatory framework for structured credit in particular, and by the banks’ desire to sell their non-core credit portfolios and reduction of activity in the primary markets. SCIO continues to exploit this void with the SCIO Opportunity Fund I, an open-ended strategy with a similar investment philosophy, to which a majority of Partners Fund I investors have transferred their realisation proceeds.
