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Setpoint Capital (SPC) has been using Setpoint’s software and tech-enabled services since launching its first private credit fund. We leverage the tech to keep the Capital team lean while maintaining operational efficiency and compliance across funding vehicles. It has cut down on email traffic, increased accuracy and reliability across portfolio and funding data, and has kept the team organized and focused on what is important.
How SPC uses Setpoint Technologies:
- Verifying asset eligibility: Setpoint Technologies configures each facility according to the credit agreement’s buy-box and concentration limits. When a borrower uploads a data tape with an asset outside of the buy-box, the tech flags this to the borrower and lender before the asset is funded. If the borrower wants to request an exemption for a particular asset and SPC approves, the approval and reason is stored for future reference.
- Viewing documents required by the credit agreement: SPC can view any asset’s documents and funding / advance step-down history without leaving the platform.
- Fulfilling funding requests: Funding requests are all stored in one place, making it easy to review and approve. Advance rate step-down schedules, required reserve amounts, and funding logic are configured for each facility and amendments in the tech so the SPC team doesn’t need to reconfirm compliance to the credit agreement with each request. If there are any questions with the funding request, SPC can ask the borrower in the notes section of the funding request. All requests and approvals are documented on the technology platform so there’s an audit trail.
- Monitoring the borrowing base and facility compliance: On the platform, SPC tracks and displays in real-time each facility’s concentration limits and buy-box criteria and can even show which individual assets are contributing to each limit.
- Portfolio management: Standardized reporting across facilities enables the SPC team to analyze portfolio performance and risk by funding vehicles. The SPC team also uses real-time dashboard information such as commitments outstanding, current utilization, upcoming advance step-downs, etc for cash management, utilization forecasting, and monitoring borrower trends over time.
