Nordea Global Private Credit Fund
Fixed Income · Global · Private Debt
Figures refer to the share class ISIN LU2462454955, currency EUR, retail share class.
Key facts
- Management company
- Nordea Investment Funds SA
- Asset class
- Fixed Income
- Geography
- Global
- Strategy
- Private Debt
- Share class currency
- EUR
- Share class inception
- 25.04.2022
- Fund size
- 519 million (as at 19.08.2026)
- Management fee
- 0.84%
- Performance fee
- Yes
- Liquidity
- Not available in this publication
- UCITS
- No
- Risk grade (SRRI)
- Not available in this publication
- Registered in Switzerland
- No (qualified investors only)
Price history
Fund and benchmark rebased to 100 at 19.10.2023.
Table view
| Period | From | Fund (100 at start) | Benchmark (100 at start) |
|---|---|---|---|
| 1Y | 19.09.2025 | 104.3 | 108.1 |
| Since 2023 | 19.10.2023 | 117.6 | 128.7 |
Total return: distributions reinvested.
In EUR, the currency of the share class shown.
Fund history to 18.09.2026.
Benchmark history to 18.09.2026.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.
Performance against the benchmark
| 1M | 3M | 6M | YTD | 2025 | 2024 | 2023 | 1Y | 3Y | 5Y | Volatility | Sharpe R. | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FundISIN LU2462454955, currency EUR, retail share class | 0.11 | 0.88 | 1.63 | 1.76 | 4.89 | 7.26 | 5.25 | 3.97 | 5.49 | Not available in this publication | 6.89 | 0.48 | -0.10 |
| BenchmarkEUR 3-month deposit + 6% | 0.70 | 2.07 | 4.13 | 5.48 | 8.52 | 10.15 | 9.64 | 8.31 | 9.23 | 8.37 | – | – | – |
| Differencefund minus benchmark, in percentage points | -0.58 | -1.19 | -2.50 | -3.72 | -3.63 | -2.89 | -4.40 | -4.34 | -3.74 | Not calculated: fund figure not available in this publication | – | – | – |
Within the list: OpenList — Private Markets
Compared with the fixed income funds on OpenList — Private Markets (2 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.
| This fund | Group median | Position | |
|---|---|---|---|
| Return 1Y | 3.97 | Not available in this publication | Too few funds with a value (2) |
| Return 3Y p.a. | 5.49 | Not available in this publication | Too few funds with a value (2) |
| 3Y p.a. over its own benchmark | -3.74 | Not available in this publication | Too few funds with a value (2) |
| Volatility 3Y | 6.89 | Not available in this publication | Too few funds with a value (2) |
| Sharpe ratio 3Y | 0.48 | Not available in this publication | Too few funds with a value (2) |
| Max drawdown 3Y | -0.10 | Not available in this publication | Too few funds with a value (2) |
| Management fee | 0.84% | Not available in this publication | Too few funds with a value (1) |
Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.
WSP report
Ask WSP which research is available for this fund and what it covers.
Enquire about WSP researchBack to the list: OpenList — Private Markets
Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.
This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 18.09.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is designed to provide long-term capital appreciation through global private credit exposure and is positioned in the Private Markets category. It may suit investors who want professional active management, a diversified portfolio of private credit funds, and a high potential return while being comfortable with even large fluctuations in value. The share class has a summary risk indicator of 3 out of 7 and a recommended holding period of 5 years, and it is intended for well-informed investors who understand that the invested amount can be lost entirely. Its role is more distinctive than broad market exposure because it invests in private credit funds and co-investments rather than traditional listed securities, making it a specialist allocation within a portfolio.
Investment strategy
The stated objective is to provide long-term capital appreciation by investing in the global private credit markets. The fund invests mainly in closed-ended private credit funds or equivalent investment vehicles across seniority, security, vintage, industry and geography, and it may also enter into private loans directly through co-investments in the primary or secondary market; open-ended bond and loan funds may be used for liquidity management. A commitment or subscription to a single private credit fund or equivalent vehicle may not exceed 30% of net assets at the time of commitment or subscription, and exposure to private loans with the same company may not exceed 5% of net assets at the time of commitment; investments are limited to instruments, vehicles or contracts with limited liability. The fund does not measure performance against a benchmark, may use derivatives such as FX forwards for hedging and risk management, reinvests income rather than distributing dividends, and has a recommended holding period of 5 years.
Investment philosophy
• The portfolio is built to access global private credit through closed-ended private credit funds or equivalent investment vehicles, diversified across seniority, security, vintage, industry and geography.
• The manager may add private loans directly through co-investments, either directly or indirectly through co-investment vehicles, when an opportunity is identified for attractive risk-adjusted returns in the primary or secondary market.
• Open-ended bond and loan funds may be used for liquidity management purposes, while derivatives such as FX forwards may be used for hedging and risk management.
• Portfolio construction includes hard concentration limits: no single private credit fund or equivalent vehicle above 30% of net assets at commitment or subscription, and no private loans with the same company above 5% of net assets at commitment.
• The fund invests only in instruments, vehicles or contracts with limited liability and is managed as an Article 8 SFDR product promoting environmental and/or social characteristics.
Management team
The portfolio managers named for the fund are Kim Nydahl Grønlund and Kristian Drivsholm. The fund launch date is 22/04/2022.
The asset manager
The fund company and AIFM is Nordea Investment Funds S.A., which is a company of the Nordea Group. It is authorised in Luxembourg and supervised by the Commission de Surveillance du Secteur Financier, and the fund itself is a Luxembourg-authorised AIF structured as Nordea Specialised Investment Fund, SICAV-FIS. The documents identify Nordea Investment Funds S.A. as the management company running the product.
Strengths
A distinguishing feature is that the fund offers access to a diversified portfolio of private credit funds while stating that assets are invested from the start, without the multiyear build-up period typical for individual private credit funds. Its strategy combines fund investments across seniority, security and vintage with the ability to make direct or indirect co-investments in private loans when the manager sees attractive risk-adjusted opportunities. The structure also includes explicit portfolio concentration limits and the use of open-ended bond and loan funds for liquidity management. The fund is positioned as an Article 8 SFDR product and is available in a share class with EUR as base currency.
Risks
The fund’s summary risk indicator is 3 out of 7, described as a medium-low risk class, although the materials also state that investors must accept that the invested amount can be lost entirely. The documents identify liquidity, over-commitment, private credit investments and funds of funds as other materially relevant risks not captured by the summary risk indicator. Risk is also shaped by the structure of the strategy: the fund invests in closed-ended private credit funds and private loans, has a 1-year lock-up, quarterly net redemption limits of 5% of shares in issue, a minimum 3 months' notice period, and the Board or AIFM may suspend redemptions for up to 12 months in the interest of shareholders. The fund may use derivatives such as FX forwards for hedging and risk management, and for investors exposed to non-euro currencies the general materials note that currency exchange-rate fluctuations may affect investment value.