Mackenzie Investments launched a new private credit fund for retail investors that uses an interval structure to allow for quarterly redemptions.<\/p>\n
The Mackenzie Northleaf Private Credit Interval Fund is different from other private investment funds in that it will allow quarterly redemptions of up to 5% of the fund’s assets.<\/p>\n
“This provides retail investors with a new way to access illiquid private credit investment strategies that have traditionally been reserved for accredited and institutional investors and typically feature significant minimum investment requirements,” the release said.<\/p>\n
The minimum initial investment is $5,000.<\/p>\n
Mackenzie partnered with Toronto-based Northleaf Capital Partners Ltd.<\/a>, a private investment fund manager, in 2020. Last year Mackenzie launched private credit<\/a> and private infrastructure<\/a> funds with Northleaf.<\/p>\n
The rest will be invested in Mackenzie fixed-income ETFs, providing liquidity.<\/p>\n
Last summer Mackenzie president and CEO Barry McInerney said the firm was looking to make alternatives more accessible to retail investors<\/a>.<\/p>\n