Private Credit Investing
Specialized private credit exposure through institutional law firm lending strategies.
AIR Asset Management’s legal finance strategy seeks to provide differentiated private credit exposure through direct lending solutions to established law firms with diversified portfolios of cases and contractual fee receivables.
The strategy is designed to pursue attractive risk-adjusted return objectives while maintaining a focus on downside mitigation, diversification, and cash flow generation.
There can be no assurance that the strategy will achieve its investment objectives or that historical market characteristics, including correlation observations, will continue in the future.
A Differentiated Approach to Legal Finance
AIR’s legal finance strategy focuses primarily on law firm lending rather than binary litigation outcomes.
Loans are generally structured as full recourse obligations to established law firms and are supported by diversified portfolios of cases, fee receivables, and broader firm cash flow dynamics.
This approach differs materially from traditional litigation finance structures that may depend on the outcome of a single case.
AIR believes the strategy offers a combination of:
Alternative income generation
Asset-backed private credit exposure
Potential downside mitigation characteristics through diversified collateral structures
Historically lower correlation to traditional markets (based on historical observations; correlations may change and are not predictive of future results).
Contractual yield-oriented investment characteristics
Strategic Partnership with Kerberos Capital Management
AIR partners with Kerberos Capital Management, a specialized private credit manager with deep expertise in law firm lending and legal finance underwriting.
The partnership is intended to enhance AIR’s sourcing capabilities, underwriting process, market access, and portfolio management expertise within the legal finance market.
Together, the firms seek to combine institutional underwriting discipline with specialized market expertise to deliver differentiated private credit exposure for investors.
Learn More About AIR’s Private Credit Capabilities
AIR works with qualified investors* seeking differentiated private credit opportunities designed to complement traditional fixed income and alternative allocations.
Contact AIR Asset Management.
*Eligibility and suitability are determined on a case-by-case basis pursuant to applicable offering documents and regulations.
Disclaimers
For informational purposes only. Not an offer to sell or solicitation to buy securities. Investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Alternative investments are speculative, illiquid, and may not be suitable for all investors.
Private credit and legal finance investments involve substantial risks, including credit risk, borrower default risk, collateral risk, legal and regulatory risk, liquidity risk, and market risk. There can be no assurance that any investment objectives will be achieved or that any investment strategy will be successful.
Legal finance investments may be highly illiquid and speculative. Returns may be affected by borrower performance, legal market conditions, repayment timing, and other factors.
Any references to downside mitigation, underwriting discipline, or portfolio construction processes are intended to describe AIR Asset Management’s investment approach and should not be interpreted as guarantees against loss.
Past performance is not indicative of future results.
This material is for informational purposes only and does not constitute investment advice or an offer or solicitation to buy or sell securities. Any offering may be made only pursuant to definitive offering documents.
Kerberos Disclosure
References to Kerberos Capital Management are provided for informational purposes only. No inference should be made regarding future investment performance or investment outcomes based on strategic relationships or third-party affiliations.