Best covenant compliance software for private credit
Five platforms compared on the dimensions that matter for private credit covenant compliance: per-facility customisation, headroom monitoring, audit trail, borrower portal, pricing, and implementation time.
Mid-market private credit (30-300 facilities): CapitalBridge. Large credit funds + CLO/syndicated: Allvue Systems. Multi-asset enterprise institution: eFront. Emerging manager small portfolio: Cobalt GP or Excel.
Five platforms, six dimensions
| Platform | Per-facility covenant package | Headroom monitoring | Borrower portal | Pricing | Implementation |
|---|---|---|---|---|---|
| CapitalBridge | Yes (cascading rules) | Yes (configurable buffer) | Yes (built-in) | Department budget | 2-4 weeks |
| Allvue Systems | Yes | Yes | No | $50K-200K+/yr | 6-12 months |
| eFront (BlackRock) | Yes | Module-dependent | Limited | $100K-500K+/yr | 6-18 months |
| Investran (FIS) | Limited | Manual | No | $80K-300K+/yr | 6-12 months |
| Cobalt GP | Limited | No | No | $10K-30K/yr | 1-2 months |
Bilateral covenant packages demand per-facility flexibility
Private credit covenants vary deal by deal. Senior term loans carry maintenance covenants; unitranche adds minimum liquidity; mezzanine adds equity protection ratios; second-lien introduces inter-creditor agreements. The platform that handles a CLO well does not automatically handle bilateral private credit well, and vice versa. Choose the platform whose covenant engine matches your deal types.
See how it works with your portfolio structure
Book a 30-minute demo. We configure it with your actual portfolios, categories, and counterparties so you see exactly how CapitalBridge fits. No generic product tour. You talk to the team that built it.
"The gap between a $200K enterprise platform and a shared spreadsheet should not be this wide. We built the thing that belongs in that gap."