Who We Are

Over $26.2 billion of our capital is available to support corporate borrower debt financing needs for acquisitions, leveraged buyouts, recapitalizations, refinancings and growth investments. Our expertise in underwriting senior secured unitranche debt, combined with the flexibility to invest across the capital structure, allows us to meet the unique needs of our portfolio companies. Our fully committed financing solutions and efficient transaction process provide the certainty and flexibility required in today’s competitive M&A market.

In addition, our Fund & Manager Finance platform provides loans to the management companies of high-quality private equity sponsors, as well as NAV loans to their funds. Fund & Manager Finance is a natural extension of our core direct lending platform, allowing us to further build out our suite of flexible and value-added financing capabilities provided to the private equity community.

We manage capital for a diversified group of institutional and high-net-worth investors, consistently producing attractive, risk-adjusted returns across multiple economic and interest rate cycles.  Our platform’s scale, fund and manager financing structures and a seasoned, cohesive investment team further enhance the value we provide to our clients.

Corporate Capital Solutions


We offer the right mix of capital and experience to partner with middle market companies. Our customized financing solutions and efficient transaction process provide greater flexibility and certainty for middle market companies.

  • Segment Focus: Direct lending in the core US middle market

  • Sector Expertise: Deep, thematic areas of focus, including software, healthcare, digital infrastructure & services, franchising

  • Sponsor-Centric: Deal flow historically driven from sponsor-backed borrowers; proven ability to lend to non-sponsor companies

  • Capital Structure Flexibility: Senior secured unitranche bias, with the ability to participate throughout the capital structure, including junior debt, structured equity and equity co-investments

  • Valuation-Based Philosophy: Investment decisions supported by robust fundamental and valuation analysis

  • Asset Selection Mentality: Focus on executing transactions with the strongest risk-adjusted returns


We provide flexible, scalable capital solutions for growing technology businesses.

  • Ownership Agnostic: Founder-led, non-sponsor, VC and sponsor-backed

  • Sector Expertise: Software, tech-enabled services, and HCIT

  • Multi-stage: Early growth ($20M+ ARR) through IPO

  • Flexible Solutions: Secured credit, junior preferred capital, minority growth equity, and secondary transactions

  • Scale: $10-50M equity/hybrid capital; $40-300M credit

  • Capital Structures: Recurring revenue and cash flow underwriting, with PIK and interest-only optionality

  • AB Platform: Investment overlap with AB's public equities strategies

 

Private Equity Fund Solutions

We partner with private equity sponsors in a variety of ways to help support their capital needs.
 

  • Fund Finance: Financing to private equity funds seeking to raise accretive capital based upon fund net asset value (NAV Lending)
 
  • Manager Finance: Loans to private equity management companies leveraging management fee streams, carry, and/or GP commitments
  • Equity Co-Investments: Invest alongside leading PE sponsors, often where we have a LP relationship or in connection with a private credit financing
 
  • Primary and Secondary Fund Investments: Through a strategic partnership with a top-tier private equity fund-of-funds manager, we have the ability to make LP commitments and purchase secondary LP interests in private equity funds, including investing in continuation vehicles


 

Core Direct Lending Offering
  • Primarily invest in directly originated senior secured unitranche loans
     
  • Investee profile: predominately sponsor-backed companies in the US middle market 

  • Additional capability to offer junior debt, structured equity and equity co-investments
Experienced & Cohesive Team
  • 20+ managing directors with an average of 22.8 years of experience
     
  • Select team members working together since 2004

  • 100+ professionals
Scaled Direct Lending Platform
  • Established middle market private credit asset manager

  • Over $38 billion in gross commitments across 820+ transactions

  • Over $26.2 billion of capital available for investment
Compelling Investment Opportunity
  • Incremental yield with diligent focus on downside risk mitigation

  • Floating-rate exposure and diversification

  • Strong, long-term track record of attractive risk-adjusted returns

  • Consistent cash distributions
Long-Term Offering, with Stable Business Model
  • Perpetual fund structures with ability to continuously raise capital

  • Highly diversified portfolios of primarily senior secured loans

  • Extremely well-matched asset duration and funding sources
Robust Suite of Private Equity Fund Solutions
  • Fund financing (NAV Loans) for private equity funds

  • Loans to management companies of private equity sponsors

  • Equity co-investments

  • Primary and secondary LP investments
 

Transactions by Industry

Enterprise Software
Tech-Enabled Services
Growth Stage Capital
Digital Infrastructure and Services
Healthcare
Franchising
Services

Our Perspectives

AB NAVigator: Your Guide to Market Trends in Fund and Manager Finance
July 2026
AB NAVigator: Your Guide to Market Trends in Fund and Manager Finance
April 2026
AB NAVigator: Your Guide to Market Trends in Fund and Manager Finance
January 2026
Sunset over downtown Seattle and the Rainier Tower and Rainier Square.
Nav Lending: Funding Flexibility
August 2024
Direct Lending Outlook High Return Potential, More Deal Activity
March 2024
Offense or Defense? Direct Lending Can Play Both
September 2023
Private Credit’s Rise Continues—But Not Because of SVB
August 2023
Private Market Talks: Driving Alpha
March 2023
Opportunities Remain for Well-Positioned Lenders
September 2022
Technology Set to Weather the Storm
June 2022
The Risks and Rewards of Targeting Tech
September 2019
Middle Market Direct Lending’s Illiquidity Premium Shines in Current Market
June 2021
COVID-19: The Growth Opportunities and Challenges
September 2020

Alternatives at AB

A tailored spectrum of sophisticated strategies designed to achieve specific outcomes, diversify returns and mitigate downside risk.


 

FAQ

AllianceBernstein Private Credit Investors (AB-PCI) is AllianceBernstein’s private credit investment platform, providing capital to middle-market companies, private equity funds, and alternative asset managers. The platform invests across corporate direct lending, growth capital, and fund and manager finance, as well as equity co-investments.

AllianceBernstein Private Credit Investors focuses on private credit and equity investments across companies, private equity funds, and alternative asset managers. Investments include senior secured and unitranche loans to middle-market companies; growth and junior capital solutions, including subordinated debt, structured equity, and common equity; investment-grade and specialty NAV loans and asset manager loans; and equity co-investments alongside private equity sponsors.

AllianceBernstein specializes in middle-market direct lending focused on durable business models. Target sectors include software and technology, digital infrastructure and services, healthcare and healthcare IT, and business and residential services.

AllianceBernstein Private Credit Investors provides fund and manager finance solutions to private equity funds, private credit funds, and alternative asset managers. Financing solutions include investment-grade and specialty NAV loans, as well as loans to asset management companies, designed to provide flexible capital across a fund or manager’s lifecycle.

Manager finance provides flexible financing solutions to private equity, private credit, and other alternative asset managers to support growth, operations, and strategic capital needs. Financing may be supported by management fee streams, carried interest, GP commitments, and other manager-related assets or cash flows.

AllianceBernstein Private Credit Investors targets attractive risk-adjusted returns through disciplined underwriting, fundamental and valuation analysis, and thoughtful investment structuring.  The platform maintains flexibility across the capital structure while emphasizing downside protection and senior secured lending, including unitranche loans.

AllianceBernstein Private Credit Investors serves institutional investors, including pension funds, insurance companies and other financial institutions, as well as private wealth and individual investors, including family offices, high-net-worth investors and clients of registered investment advisers (RIAs). Investors can access AB-PCI’s private credit strategies through private funds and other investment vehicles, as well as AllianceBernstein Private Lending Fund (AB-LEND), a publicly offered, non-traded business development company (BDC).