Covenant compliance monitoring built for private credit
Private credit covenant compliance lives at the facility level: every loan, every borrower, every covenant on its own threshold, headroom, and operator. CapitalBridge tracks all of them in one platform, recomputes status on every borrower submission, and alerts the credit team before a breach is recorded. Built for mid-market private credit funds running 30-300 facilities. Live in 2-4 weeks.
$847M
AUM52
Facilities96%
CompliantBilateral lending demands per-facility covenant flexibility
Private credit covenant packages vary per deal. Senior term loans carry maintenance covenants (DSCR, leverage); unitranche facilities add minimum liquidity tests; mezzanine adds equity protection ratios; second-lien introduces inter-creditor agreements. A platform built for public credit indices or PE/VC fund accounting cannot model that complexity well. CapitalBridge supports custom covenants per facility with the same engine that handles standard ones.
Per-facility custom covenants
Define non-standard covenants per facility. Same engine handles standard + custom.
Borrower self-service
Portfolio companies submit financials in their own portal. Less email chasing for the credit team.
Cross-facility risk view
See concentration: which sector, which covenant type, which sponsor cluster is deteriorating.
One package doesn't fit 300 deals. Private credit never assumed it would.
Covenants are standardised across the lender group, negotiated once, tested on a fixed schedule, and reported through a single agent-bank certificate. Every lender reads the same test.
Every facility is negotiated bilaterally, so the covenant package differs by structure: senior term loans test DSCR and leverage; unitranche adds minimum liquidity; mezzanine adds equity protection ratios; second lien introduces inter-creditor terms. CapitalBridge sets the headroom at the facility level and recomputes it the same way regardless of which package a given loan carries.
300 facilities, one covenant engine
| Facility | Covenant | Level | |
|---|---|---|---|
| Kanzu Finance / Senior Term Loan | DSCR | 1.42x | Compliant |
| Sahel Agri-Co / Unitranche | Min. liquidity | headroom 5% | At-risk |
| Lakeview Microbank / Mezzanine | Equity protection | below floor | Breach |
Different tests, one status vocabulary
Senior, unitranche, mezzanine: each carries its own covenant, but every row reads compliant, at-risk, or breach the same way for the credit committee.
Which facilities are inside 90 days of breach?
One facility inside 90 days:
Illustrative figures. Same figures the dashboard shows, read-only and logged.
Mid-quarter drift, caught mid-quarter
A question the credit team can ask the day it occurs to them, not the week before the quarterly review.
What covenant compliance monitoring software is best for private credit?+
For mid-market private credit and direct lending funds, CapitalBridge is purpose-built: per-facility covenant tracking, configurable headroom per covenant per borrower, three-state status with proactive alerts, and a borrower self-service portal that eliminates email chasing. For very large credit funds running CLOs and waterfall structuring, Allvue Systems is stronger; for multi-asset-class institutions, eFront is broader.
How does CapitalBridge handle private credit facility covenants?+
Each facility carries its own covenant package with thresholds, operators, and headroom buffers. CapitalBridge supports DSCR, ICR, LTV, leverage, minimum cash, asset cover, and any custom covenant defined per facility. Cascading rules let you set portfolio-wide defaults, sector-level overrides, and facility-level customisation; most specific scope wins. Each borrower data submission triggers automatic recalculation across all affected covenants.
How does CapitalBridge compare to Allvue and Dynamo?+
Allvue Systems offers deep loan-level capabilities including covenant monitoring, with broader fund-accounting and CLO functionality at $50K-200K+ annual cost and 6-12 month implementation. Dynamo Software is CRM-first with portfolio monitoring extensions; covenant depth is limited. CapitalBridge is purpose-built for private credit covenant compliance with department-budget pricing, 2-4 week implementation, and a borrower self-service portal not present in either.
Does CapitalBridge support custom private credit covenants?+
Yes. CapitalBridge supports custom covenants in addition to the standard set (DSCR, ICR, LTV, leverage, minimum cash, asset cover). Custom covenants are defined with metric formula, comparison operator, threshold value, and optional headroom buffer, applied at portfolio, sector, or individual facility level. The covenant engine recomputes custom covenants the same way as standard ones, on every borrower data submission.