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Portfolio valuation management for private credit and alternative assets
Private Credit Portfolio Valuation — Built on the Instrument Complexity
of
Direct Lending, Mezzanine, and Distressed
Pepper's valuation module captures the exact economic terms of each instrument and applies valuation logic that matches how private credit assets are actually structured. The result: NAV calculations that are accurate on any given day, not just at quarter-end.
How It Works
NAV calculated from the credit agreement - not reconstructed from it.
Most portfolio valuation tools require a manual transcription step - instrument terms into a separate model. That's where errors enter, marks diverge from agreements, and audit exposure begins. Pepper eliminates it.
Instrument terms captured at origination
Rate type, PIK toggle, floor, spread, draw schedule
Flow directly into valuation engine
Multiple valuation models applied by instrument type
NAV calculated from the same data that governs the credit
What Pepper's Portfolio Valuation Module Covers
Every dimension of private
credit valuation. One system.
Deal set-up and portfolio-
level capture
Every instrument's economic terms captured at origination — principal, rate type, PIK toggle, floor, spread, maturity, and tranche structure — flowing directly into valuation logic without manual re-entry.
Position-level
valuation
Individual instrument valuations calculated from live credit agreement terms, draw schedules, and market inputs — with full drill-down from portfolio-level NAV to individual position to underlying cash flow.
Portfolio roll-up
Position-level valuations aggregated automatically into fund-level, vehicle-level, and multi-fund consolidated views — with roll-up logic that respects each fund's structure, currency, and ownership percentage.
Multi-currency valuation
Multi-currency portfolios valued with real-time FX inputs applied consistently across positions — eliminating the currency translation errors that arise when different team members apply different exchange rate sources.
Multiple valuation
sources and inputs
Full visibility into delayed-draw term loans, revolving facilities, and multi-tranche structures. Capital committed versus drawn, unfunded obligations, and draw conditions tracked in real time — no manual reconciliation between the credit agreement and the monitoring record.
Valuation data
repository
Configurable LP dashboards providing each investor with real-time visibility into their allocations, performance, capital activity, and document library — without requiring a manual report cycle.
Multiple valuation
models
Internal DCF models, external third-party appraisals, yield-based pricing, and market-comparable approaches applied by instrument type — with model selection logic configurable by asset class, strategy, and fund governing documents.
Valuation analytics
AI-powered
Portfolio-level mark trends, unrealised gain/loss attribution, vintage performance dispersion, and fair value sensitivity analysis — generated from live valuation data, not a separate analytics extract.
Valuation
reporting
IC valuation memos, board-level portfolio marks, LP-facing fair value disclosures, and regulatory filings generated directly from the valuation system — with sign-off workflow and audit trail embedded.
Regulatory compliance —
ASC 820 & IFRS 13
ASC 820, IFRS 13, and SEC valuation policy requirements addressed directly in Pepper's valuation framework — with documentation, policy linkage, and sign-off workflow required for audit defence.
Valuation
dashboards
Real-time portfolio valuation dashboards for investment teams, IC, and fund administrators — showing NAV by fund, strategy, vintage, and currency — configurable to each audience's decision context.
Pepper AI
AI that catches valuation errors before they reach your LPs.
Pepper AI operates on the structured valuation data your team has built in the platform — mark history, model inputs, credit agreement terms — making its outputs verifiable and audit-defensible in a way that generic AI tools cannot match.
PIK and delayed-draw tracking
PIK interest compounding and delayed-draw funding milestones tracked automatically against each credit agreement. No manual reconciliation. No discrepancy between what the agreement says, what the model projects, and what the monitoring record shows.
Use case: PIK compounding, DDTL milestone tracking, draw condition monitoring
Valuation anomaly detection
AI-flagged statistical anomalies in portfolio marks — period-over-period movements outside expected ranges, valuations inconsistent with comparable instruments, and data inputs that diverge from historical patterns — reviewed before marks go to LP or IC.
Use case: Valuation QA before LP distribution and audit
Comparable transaction surfacing
When marking an illiquid position, Pepper AI surfaces comparable transactions from your deal history and available market data — giving your valuation team defensible reference points without manual research.
Output: Defensible comps from your own deal history — audit-ready
Fair value Disclosure Drafting
First-draft fair value disclosure narratives and Level 3 valuation methodology descriptions assembled from structured valuation data — your team reviews, edits, and approves for IC memo and LP report inclusion.
Time saved: Hours off quarterly disclosure preparation
Valuation accuracy starts with
the data, not the model.
See how private credit managers use Pepper to calculate NAV from the
same data that governs each credit agreement — not reconstructed
from it.
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