The Garrington Strategy
The Garrington Private Credit US Fund Ltd. (the “Fund”) is an open-ended private fund offering investors exposure to a diversified portfolio of secured, asset-backed private loans to small business and lower middle-market borrowers. The Fund’s portfolio is managed by Garrington Capital1, a commercial lending specialist established in 1999 with more than two decades of experience in originating and managing private loans across the U.S. and Canada.
The Fund is designed to provide regular investor liquidity, favoring shorter-duration loans and a disciplined underwriting approach that emphasizes tangible collateral coverage and prudent risk management. It seeks to generate consistent, risk-adjusted returns with low volatility and limited correlation to traditional asset classes.
The Fund was seeded and commenced investing on Dec 1, 2025. The returns presented prior to this date reflect historical net returns of a parallel fund1.
Historical Net Performance — Garrington Private Credit Strategy3
| JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.89% | 0.78% | 0.90% | 1.00% | 0.77% | 4.42% | |||||||
| 2025 | 0.94% | 0.76% | 0.85% | 0.87% | 0.81% | 0.88% | 0.96% | 0.85% | 0.81% | 0.85% | 0.80% | 0.94% | 10.81% |
| 2024 | 0.90% | 0.89% | 0.86% | 0.89% | 1.11% | 0.87% | 0.91% | 0.79% | 0.88% | 0.97% | 0.74% | 0.93% | 11.28% |
| 2023 | 0.95% | 0.92% | 0.94% | 0.87% | 0.91% | 0.92% | 0.86% | 0.86% | 0.94% | 0.83% | 0.85% | 0.96% | 11.36% |
| 2022 | 0.59% | 0.53% | 0.71% | 0.70% | 0.72% | 0.69% | 0.80% | 0.92% | 0.99% | 1.09% | 1.01% | 1.08% | 10.30% |
| 2021 | 0.72% | 0.65% | 0.71% | 0.72% | 0.72% | 0.69% | 0.71% | 0.70% | 0.69% | 0.59% | 0.58% | 0.57% | 8.33% |
Past performance is not indicative of future results
1. Coral Cove US GP Ltd. serves as the general partner and investment manager of the Fund and has engaged Garrington Capital to act as credit Adviser. Garrington Capital is the operating name for Garrington Group Inc., a Toronto-based commercial lending specialist established in 1999, and its subsidiaries. Garrington Capital originates, sources, and manages loan portfolios on behalf of the Fund through special-purpose investment vehicles that hold the underlying secured loan assets.
3. The Fund will pursue the same investment strategy and allocation policy as existing affiliated vehicles managed by the same investment group. “Historical Net Performance – Garrington Private Debt Strategy” is comprised of the following: Dec 1, 2025 to present – actual Fund returns (Class IA); January 1, 2021 to Nov 30, 2025 – Garrington Private Credit Fund Ltd. (“the Cayman Fund”) net returns. The performance information from January 1, 2021 to date represents the historical performance, net of all fees and expenses, of the Cayman Fund (Class I shares), a Cayman Islands investment fund managed by the parent of the Adviser. The Fund will invest, on a parallel basis, in substantially the same underlying portfolio through the same or substantially similar underlying investment vehicles (subject to change), advised by the same Credit Advisor, Toronto-based Garrington Group Inc., and in accordance with the same credit policies and allocation methodology. Accordingly, the results of the Cayman Fund are presented as illustrative of the strategy’s historical performance. The Fund’s actual results may differ. Performance shown is based on monthly NAVs calculated under consistent fair-value policies aligned with International Financial Reporting Standards (“IFRS”). Annual financial statements of the Cayman Fund are audited; however, interim monthly NAVs and the individual monthly returns shown are unaudited. The Fund’s financial statements will be prepared in accordance with U.S. GAAP. Management does not expect material valuation differences between IFRS and U.S. GAAP, although certain disclosure classifications may differ.) Past performance is not necessarily indicative of future results.
Subscribe
Have our blog delivered directly to your inbox: