Insights

The prevailing incentive fee structure in advisor‑focused Private Credit, particularly non‑traded BDCs, represents a growing and largely unaddressed investor‑alignment failure between manager and investors, highlighting the need for stronger alignment mechanisms.

Through CIO Notes, webinars, and research publications, Albourne has examined how Evergreen structures seek to provide periodic liquidity while investing in inherently illiquid assets, and how this interaction can introduce additional complexity during periods of market stress.