Omega for Private Credit Funds

The credit monitoring challenge

Private credit portfolios grow faster than analyst headcount. Each credit agreement has unique covenant definitions, testing frequencies, and cure mechanics. Missing a breach can mean losing priority in a restructuring.

Traditional approach: Analysts manually extract covenant thresholds from each credit agreement, then track compliance across quarterly certificates in spreadsheets. Inconsistent formatting and definition drift make errors inevitable.

Omega approach: Upload credit agreements and compliance certificates. Omega extracts covenant definitions, maps actuals to thresholds, and alerts you to breaches and close-calls.

What Omega extracts

• Financial covenants: Leverage ratios, interest coverage, fixed charge coverage, minimum liquidity
• Negative covenants: Restricted payments, additional debt limitations, asset sale restrictions
• Definitions: EBITDA adjustments, permitted indebtedness, material adverse change
• Testing mechanics: Measurement periods, grace periods, cure rights, basket calculations
• Amendment history: Track covenant modifications across amendment stack

Portfolio-wide compliance tracking

Omega provides a unified view across your entire credit portfolio:

• Covenant dashboard: Real-time compliance status across all borrowers
• Early warning alerts: Flag when borrowers approach covenant thresholds
• Trend analysis: Track cushion erosion quarter-over-quarter
• Amendment tracking: Monitor covenant modifications and waivers
• Borrowing base calculations: Verify collateral values and availability

Integration with credit workflows

Omega fits into how credit teams already work:

• New deal underwriting: Extract terms from credit agreements during diligence
• Quarterly monitoring: Parse compliance certificates and update tracking
• IC reporting: Generate portfolio summaries with covenant status
• Restructuring support: Map amendment options and cure mechanics