Capital Markets
Private Credit
Institutional private credit allocation to supply chain assets — structured facilities where pension funds and insurance companies access trade finance yields with investment-grade risk.
Key figures
How it works
From facility structuring to monthly distributions.
Facility structured
Rated tranches from AAA to equity are structured with DFI first-loss guarantees. Each tranche calibrated to institutional investor mandates.
Institutional investor commits
Pension funds, insurance companies, and sovereign wealth funds commit capital to tranches matching their risk-return requirements.
Origination fills pool
Caviar's origination engine fills the facility with oracle-verified supply chain receivables. Real-time pool composition visible to all investors.
Monthly distributions & NAV
Monthly interest distributions with oracle-verified NAV reporting. Monthly liquidity windows for investor redemptions.
Capabilities
Institutional-grade private credit infrastructure.
Rated tranches
AAA to equity tranches structured to meet the mandates of different institutional investors. Each tranche with distinct risk-return profiles and priority of payments.
DFI first-loss guarantees
Development finance institution guarantees on first-loss tranches de-risk the structure for senior investors and enable investment-grade ratings.
Oracle-verified NAV
Net asset value computed in real-time from oracle-verified receivable performance data. No quarterly trustee reports — continuous transparency.
Monthly liquidity windows
Structured redemption windows give institutional investors periodic liquidity without disrupting the underlying portfolio. NAV-based pricing.
Institutional reporting
ILPA-compliant reporting with real-time dashboards. Portfolio composition, performance attribution, and risk metrics updated continuously.
Segregated accounts
Each investor's capital held in segregated accounts with independent custody. Full bankruptcy remoteness and operational separation.
Comparison
Traditional vs. Caviar
| Traditional | Caviar | |
|---|---|---|
| Transparency | Quarterly trustee reports | Real-time oracle-verified NAV |
| Minimum commitment | $50M+ per investor | $5M minimum tranche |
| Liquidity | Lock-up 3-7 years | Monthly liquidity windows |
| Data quality | Self-reported by manager | Oracle-verified from source |
Use cases
Real-world applications
Pension fund allocation
AAA tranche at SOFR+60-80bps with DFI first-loss protection. Meets insurance and pension regulatory capital requirements with attractive yield.
Insurance company portfolio
Short-duration, high-quality trade finance receivables match insurance liability profiles. Self-liquidating assets reduce reinvestment risk.
Sovereign wealth fund
Mezzanine and equity tranches for sovereign wealth funds seeking higher returns with development impact. DFI co-investment de-risks entry.
Allocate to private credit.
Institutional-grade access to supply chain credit. Rated tranches, oracle-verified data, monthly liquidity.