Dawson (Lux) Portfolio Finance

DLUX PORTFIN

Overview Strategy Performance Allocations Key terms Share classes FAQ

Overview

Legal Name:

Dawson Portfolio Finance (Lux) SICAV

Manager:

Dawson Partners

Website:

https://dawsonpartners.com/

Fundraising Status:

Open

Domicile:

Luxembourg

Legal Form:

Lux SICAV (S.A.)

Regulatory Regimes:

Lux UCI (Part II)

Term:

Perpetual-Life

Base Currency:

USD

Launch Year:

2025

Size:

$314.4M (as of Jan 31, 2026)

No. of Investments:

1000 (as of Jan 31, 2026)

Administrator:

Northern Trust Global Services SE

Investor Eligibility Segments:

Institutional, Professional / Accredited, Retail

Permitted Distribution Countries:

Luxembourg, United States, United Kingdom, EEA, Germany

Strategy

Dawson (Lux) Portfolio Finance invests in private-market structured solutions backed by diversified North American private equity portfolios across industrials, healthcare, technology, consumer and other sectors. The evergreen fund primarily provides private credit-like exposure through preferred equity and other structured stakes in entities holding portfolios of private investment funds and companies, executed via secondary purchases, GP-led deals, primaries and co-investments. It targets resilient, income-oriented returns with downside protection, strong asset coverage and selective equity upside participation.

Asset Classes:

Private Credit

Strategy:

ABS / Specialty Finance (PC)

Underlying Investment Type:

Co-Investments

Geographic Focus Region:

North America

Geographic Focus:

North America

Sector Focus (GICS):

Diversified

Sector Focus (not standardized):

Industrials, Health Care, Information Technology, Consumer Staples

Other Focus:

ESG Investment Focus

Leverage Limits Summary:

Targets indebtedness ≤25% of GAV; hard cap 40% of GAV; AIFM leverage limits 300% gross and 250% commitment of NAV.

Investment Limits Summary:

Post ramp-up, no more than 20% of net assets in any one Investment or UCI; diversification assessed on look-through basis.

Performance

for IA (USD) share class

Total Returns (% Net of Fees)

Net returns (since inception)	IA (USD)
Total Return	12.2%
Annualized Return	31.7%
Best Month	(Sep 2025)6%
Worst Month	(Oct 2025)0.4%
Risk metrics (since inception)
Volatility	7.5%
Sharpe Ratio (4.3% risk-free)	3.65

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Key terms

for IA (USD) share class

Share Class

Minimum Subsribtion:

$30,000

Currency:

USD

Distribution Type:

Accumulating

Investor Type:

Institutional

Liquidity

Gate:

5% of NAV per quarter; 20% of average NAV annually.

Gate Level:

Fund level NAV

Redemption Frequency:

Quarterly

Redemption Basis:

Class NAV per Share as of the Redemption Valuation Date

Subscribtion Frequency:

Monthly

Subscribtion Basis:

NAV per Share as of the last calendar day of the immediately preceding Accounting Period

Fees

Management Fee:

1.25%

Management Fee Basis:

NAV

Performance Fee:

10.00%

Over 5% per hurdle on highest Class NAV incl. distributions; 100% catch-up; class Loss Recovery Account; no clawback of prior allocations.

Performance Fee Basis:

Change in NAV

Sub-Fund Net Profits allocable to Class after Class Loss Recovery Account.

Hurdle rate:

5.00%

Straight-line monthly on highest class NAV since prior Incentive Allocation Period; includes timing/amount of distributions.

Catch-up:

100.00%

100% of Excess Profits until full 10% Incentive Allocation on Hurdle Amount; then 10% of remaining profits.

Front load (subscription):

0.00%

Certain intermediaries may charge upfront selling commissions/placement fees outside the fund.

Back load (redemption):

2.00%

If redeemed within 12 months of issuance.

Servicing fee:

0.00%

Management Fee:	1.25%
Management Fee Basis:	NAV
Performance Fee:	10.00%	Over 5% per hurdle on highest Class NAV incl. distributions; 100% catch-up; class Loss Recovery Account; no clawback of prior allocations.
Performance Fee Basis:	Change in NAV	Sub-Fund Net Profits allocable to Class after Class Loss Recovery Account.
Hurdle rate:	5.00%	Straight-line monthly on highest class NAV since prior Incentive Allocation Period; includes timing/amount of distributions.
Catch-up:	100.00%	100% of Excess Profits until full 10% Incentive Allocation on Hurdle Amount; then 10% of remaining profits.
Front load (subscription):	0.00%	Certain intermediaries may charge upfront selling commissions/placement fees outside the fund.
Back load (redemption):	2.00%	If redeemed within 12 months of issuance.
Servicing fee:	0.00%

Share classes

Name	Min. Subscription	Currency	Inception	Distribution	Investor Type	ISIN	BBG Ticker
IA (USD)	30,000 USD	USD	-	Accumulating	Institutional	-	-
Class B eg	250,000 EUR	EUR	15 Mar 2018	Accumulating	Institutional	LU1987654321	FUND B LX
Class C Example	500,000 USD	USD	01 Jun 2019	Distributing	Professional	IE0123456789	FUND C ID
Class D eg.	100,000 GBP	GBP	22 Sep 2020	Accumulating	Institutional	GB00ABCDEF12	FUND D LN
Class E Example	25,000 EUR	EUR	03 Jan 2021	Distributing	Retail	LU9988776655	FUND E LX
Class F Example	1,000,000 USD	USD	10 Nov 2017	Accumulating	Institutional	US1234567890	FUND F US

FAQ

What is Dawson (Lux) Portfolio Finance?

Dawson (Lux) Portfolio Finance is an evergreen Lux UCI fund focused on Private Credit and managed by Dawson Partners.

Who manages Dawson (Lux) Portfolio Finance?

Dawson (Lux) Portfolio Finance is managed by Dawson Partners, based in Toronto, Canada.

How big is Dawson (Lux) Portfolio Finance?

Dawson (Lux) Portfolio Finance has a size of $314.4M.

What type of fund is Dawson (Lux) Portfolio Finance?

Dawson (Lux) Portfolio Finance is an open-ended / evergreen Lux UCI fund investing in private credit and domiciled in Luxembourg.

When was Dawson (Lux) Portfolio Finance launched?

Dawson (Lux) Portfolio Finance is structured as a Lux SICAV (S.A.) vehicle with a perpetual-life term.

Where is Dawson (Lux) Portfolio Finance domiciled and regulated?

Dawson (Lux) Portfolio Finance is domiciled in Luxembourg under Lux UCI (Part II).

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