this is private debt. currently it just has cash. unless it invests the cash into income producing private debt, then its return will be low. it remains to be seen what they've invested in. Private debt generally takes a long time to find and source deals. In the PDS, they've said about 3 months till the first dividend. Could be earlier or longer. If its longer then this could disappoint hence i've sold out entirely and going into KKC kkr credit fund thru my brokers where funds are invested from day 1.