Diameter Capital Partners is an alternative asset manager focused on global credit markets. Our differentiated approach combines fundamental research with trading and risk analytics to target attractive opportunities across public and private asset classes through the cycle.
Diameter Dynamic Credit Fund (the "Fund") is an opportunistic long-only credit strategy with the flexibility to invest across public and private markets, including high yield, loans, investment grade, and structured credit. The strategy seeks attractive, cycle-resilient total returns through catalyst-driven investments and disciplined risk management, with a strong focus on liquidity and downside protection.
Overview
Fund Objective
Diameter Dynamic Credit Fund's investment objective is to seek to generate attractive risk adjusted returns and consistent current income. Its opportunistic, multi-strategy approach aims to dynamically invest across public and private markets, spanning high yield, loans, investment grade, structured credit, and direct lending.
Diameter's research team is the central knowledge base across strategies. We believe this allows Diameter strategies to maintain strong symbioses and benefit from the idea generation and trading insights.
Diameter's centralized decision making allows for dynamic trading and nimble portfolio construction. Diameter aims to proactively position the portfolio ahead of material events, manage portfolio liquidity and capture evolving opportunity sets.
Diameter Dynamic Credit Strategy leverages an experienced team of investment professionals across public credit, structured credit, and private credit markets.
Diameter invests across the credit universe, seeking to dynamically shifting the portfolio with a forward-looking view. Credit markets offer discontinuous liquidity, creating opportunities for properly prepared and structured strategies to capture outsized returns during periods of heightened volatility.
Performance
| Daily Performance as of |
|
|---|---|
*Inception date is 4/27/2026.
The performance data presented above represents past performance. Past performance is not indicative of and does not guarantee future results. The investment return and the principal value of an investment will fluctuate. As a result, an investor's shares in the Fund may be worth more or less than original cost when repurchased by the Fund. Current performance may be lower or higher than the performance quoted. Investing involves risk, including the risk of loss of principal.
The performance data quoted above includes reinvestment of distributions and is net of all Fund expenses. The Fund has entered into an Expense Limitation and Reimbursement Agreement with the Diameter DCF Adviser LLC (the "Adviser"), pursuant to which the Adviser has agreed to waive the management fee and/or to assume or reimburse expenses of the Fund if required to ensure the total annual expenses of the Fund (with certain exceptions) do not exceed 0.75% of the average daily NAV of Class A and Class I shares, respectively. Thus, depending on the amount of expenses, Fund returns may have been lower had expenses not been waived during the period. The total annual expenses without any fee waiver or expense reimbursement arrangement is shown in the Key Fund Facts portion of the website as Total Gross Expenses. The Expense Limitation and Reimbursement Agreement is expected to end two years after the Fund's launch. Please refer to the prospectus, which can be found here, for information regarding the Fund's fees and expenses.
Unless otherwise noted, the Fund return does not reflect the deduction of any applicable Fund share class sales load, third-party brokerage commissions or third-party investment advisory fees paid by investors to a financial intermediary for such services. If an investor buys Class A Shares through certain financial intermediaries, the intermediaries may directly charge the investor transaction fees or other fees, including upfront placement fees or brokerage commissions, in such amounts as they may determine, provided that selling agents limit such charges to a 2.00% cap on NAV for Class A Shares. If the deduction of such fees was reflected in the performance figures quoted above, the performance would be lower. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the repurchase of Fund shares. Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. The ability of the Fund to achieve its investment objective depends, in part, on the ability of the Adviser to allocate effectively the assets of the Fund among the various securities and investments in which the Fund invests. There can be no assurance that the actual allocations will be effective in achieving the Fund's investment objective or delivering positive returns.
Key Fund Facts
| Class I | |
|---|---|
| Ticker | |
| CUSIP | |
| Inception Date | |
| Minimum Investment (Initial / Additional) | $1,000,000 / $500,000 |
| Distribution Frequency | Quarterly |
| Total Gross Annual Expenses* | |
| Total Net Annual Expenses* | |
| Total Net Adjusted Annual Expenses** | |
| 30-Day SEC Yield as of |
*The Fund has entered into an Expense Limitation and Reimbursement Agreement with the Adviser, pursuant to which the Adviser has agreed to waive the management fee and/or to assume or reimburse expenses of the Fund if required to ensure the total annual expenses of the Fund (with certain exceptions) do not exceed 0.75% of the average daily NAV of Class A and Class I shares, respectively. The Total Gross Annual Expenses figure above shows what the annual expenses would have been if there were no Expense Limitation and Reimbursement Agreement in place. The Total Net Annual Expenses figure above shows what the annual expenses are, with the Expense Limitation and Reimbursement Agreement in place. The Expense Limitation and Reimbursement Agreement is expected to end two years after the Fund's launch. Please refer to the prospectus, which can be found here, for information regarding the Fund's fees and expenses.
**The Total Net Adjusted Annual Expenses figure above does not include certain investment related expenses, such as interest payments on borrowed funds (i.e., leverage), in its calculation of expenses. Please refer to the prospectus, which can be found here, for information regarding the Fund's fees and expenses.
The expense figures above do not reflect the deduction of any applicable Fund share class sales load, third-party brokerage commissions or third-party investment advisory fees paid by investors to a financial intermediary for such services. If an investor buys Class A Shares through certain financial intermediaries, the intermediaries may directly charge the investor transaction fees or other fees, including upfront placement fees or brokerage commissions, in such amounts as they may determine, provided that selling agents limit such charges to a 2.00% cap on NAV for Class A Shares. If the deduction of such fees were reflected in the expense figures quoted above, the expenses would be higher. Expenses shown do not reflect the taxes that a shareholder would pay on Fund distributions or the repurchase of Fund shares. Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. The ability of the Fund to achieve its investment objective depends, in part, on the ability of the Adviser to allocate effectively the assets of the Fund among the various securities and investments in which the Fund invests. There can be no assurance that the actual allocations will be effective in achieving the Fund's investment objective or delivering positive returns.
Fund Assets
| As of |
Class I |
|---|---|
| NAV | |
| NAV Change since prior trading day | |
| Total Net Assets |
The NAV data quoted above includes reinvestment of distributions and is net of all Fund expenses. The Fund has entered into an Expense Limitation and Reimbursement Agreement with the Adviser, pursuant to which the Adviser has agreed to waive the management fee and/or to assume or reimburse expenses of the Fund if required to ensure the total annual expenses of the Fund (with certain exceptions) do not exceed 0.75% of the average daily NAV of Class A and Class I shares, respectively. Fund NAV would have been lower had expenses not been waived during the period. The Total Gross Annual Expenses figure in the Key Fund Facts section above shows what the annual expenses would have been if there were no Expense Limitation and Reimbursement Agreement in place. The Expense Limitation and Reimbursement Agreement is expected to end two years after the Fund's launch. Please refer to the prospectus, which can be found here, for information regarding the Fund's fees and expenses.
Unless otherwise noted, the NAV figures do not reflect the deduction of any applicable Fund share class sales load, third-party brokerage commissions or third-party investment advisory fees paid by investors to a financial intermediary for such services. If an investor buys Class A Shares through certain financial intermediaries, the intermediaries may directly charge the investor transaction fees or other fees, including upfront placement fees or brokerage commissions, in such amounts as they may determine, provided that selling agents limit such charges to a 2.00% cap on NAV for Class A Shares. If the deduction of such fees were reflected in the NAV quoted above, the NAV would be lower. Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. The ability of the Fund to achieve its investment objective depends, in part, on the ability of the Adviser to allocate effectively the assets of the Fund among the various securities and investments in which the Fund invests. There can be no assurance that the actual allocations will be effective in achieving the Fund's investment objective or delivering positive returns.
Distributions
The Fund launched on 4/27/2026. Distribution information is not available at this time.
Distribution amounts are uncertain and not guaranteed. No assurance can be given that any investment will achieve its objective or avoid losses. Past performance is not a guarantee of future results.
There is no assurance that the Fund's distribution rate will be sustainable in the future nor are distributions guaranteed. The Fund's distribution practice is to make quarterly distributions to shareholders. Shareholders should not assume that the source of a distribution from the Fund is net profit. The Fund's distributions may be affected by numerous factors, including but not limited to changes in Fund expenses including the amount of expenses waived by the Fund's investment adviser, investment performance, realized and projected market returns, fluctuations in market interest rates, and other factors. It is important to note that differences exist between the Fund's accounting records prepared in accordance with GAAP and recordkeeping practices required under income tax regulations. Therefore, the characterization of Fund distributions for federal income tax purposes may be different from GAAP characterization estimates. The determination of what portion of each year's distributions constitutes ordinary income, qualifying dividend income, short or long-term capital gains or return of capital is determined at year-end and reported to shareholders on Form 1099-DIV, which is mailed every year in late January. The Fund does not provide tax advice.
Investment Universe
Credit
Corporate fixed income credit rated BB+ or lower that typically offer higher coupons
Loans
Broadly syndicated, floating-rate credits issued by sub-investment grade borrowers
Credit
Primarily CLO and ABS high yield and investment grade debt
Grade / Prefs
Issued by BBB- or higher corporates including financials
US Treasuries & cash alternatives
Lending
Backed
Private-equity-owned companies
Sponsored
Typically, entrepreneur owned and operated business
Angled
Opportunities sourced through Diameter's extensive industry relationships
Market
Companies with EBITDA of approximately $25 million to $125 million
Market
Companies with EBITDA $125mm+
Key Distinction Across Fund Types
| Traditional Private LP Fund Structures1 | Interval Funds | ||
|---|---|---|---|
| Regulatory Status | Exempt From Registration | 1940 Act Registered | |
| Investor Suitability | Qualified Purchasers | All Investors | |
| Minimum Investment | Generally Higher Minimums | Lower Minimums | |
| Subscription Timeline | Defined Marketing Period | Continuously Offered, No Capital Calls | |
| Liquidity | Generally Illiquid (Potential Multi Year Lock-Up and/or Investor-Level Gate) | Periodic Repurchases (Typically Quarterly) | |
| Tax Reporting | Schedule K-1 | Form 1099 |
1Examples include direct participation programs such as equipment leasing and finance funds, oil and gas programs, and real estate investment trusts.
Portfolio Details
The Fund launched on 4/27/2026. Holdings information is not available at this time.
Leadership
Documents
Regulatory Documents
News, Events & Presentations
