Asset-backed financing (ABF) for strong operators and projects underpinned by real assets. We pair institutional credit discipline with operational agility. The result is flexible capital for borrowers and stable risk-adjusted returns for investors. We think like owners, not lenders.
Numbers reflect the senior secured lending track record of the principal GP team building the Beckett Industries Private Debt platform, sourced from Wirt Rivette Group's lending history. Performance is presented gross of fees on a deal-by-deal basis, includes realized and unrealized positions, and the loss ratio is calculated on principal at par. Supplemental performance history; investors in ABF Fund I are not guaranteed these results, and past performance is not indicative of future returns.
“Every dollar we lend is a dollar we would be willing to own the underlying asset for.”
Credit returns are made and lost at underwriting. We focus on covenant-protected, senior-secured loans against real, identifiable collateral, sized so the borrower can repay through cash flow rather than refinance.
Our team combines institutional credit experience with a deep network of operating partners across equipment finance, real estate, and community development. That lets us underwrite with precision, structure deals with the exit in mind, monitor collateral proactively, and partner with borrowers whose values align with sustainable growth.
The result is a portfolio designed to perform through the cycle: durable yield for our LPs, and reliable capital for sponsors and operators who value a lender that picks up the phone.
We lend where we have direct operating expertise. Every facility is structured for downside first and yield second.
Each facility is collateralized by tangible assets and structured to align with cash-flow timing and operational milestones. Pricing reflects the underlying risk, collateral quality, and borrower track record.
Loans secured by productive equipment that is titled, appraised, and insured. We lend against assets we can value, monitor, and recover. Structured with conservative advance rates and maintenance covenants.
First-lien facilities against income-producing real estate and infrastructure assets. Conservative LTVs, lockbox or blocked-account structures, and clear paths to recovery through foreclosure or assignment.
Facilities collateralized by long-dated, investment-grade or institutional-grade contract cash flows. Underwritten on counterparty credit, contract structure, and recovery pathways, not just borrower balance sheet.
Bespoke facilities tailored to project realities, not rigid credit-box templates. We structure with the exit in mind.
Direct decision-making, pragmatic underwriting, and a 30 to 90 day path from term sheet to wire.
Monthly financials, collateral updates, and covenant compliance. Proportional oversight that protects both parties without adding friction.
When facilities move sideways, we are the lender that has run the underlying business, not the one calling the loan.
We are launching with ABF Fund I as the wedge strategy. Project-level SPVs and co-invest sit alongside the fund for borrowers and LPs who want direct exposure to a specific asset, sector, or facility, sized and structured to the opportunity.
A closed-end, drawdown private credit fund originating and managing senior secured, first-lien loans to businesses underpinned by tangible assets. Stable income and risk-adjusted returns through interest payments, supported by origination discounts, lease repurchases, and equity warrants.
Special-purpose vehicles for landmark facilities. Sale-leasebacks, contract-backed lending, equipment portfolios, and asset-secured deals where LPs want direct, structurally isolated exposure to a single transaction.
Term-sheet discussion, use-of-funds, and high-level fit. Direct partner engagement from the first conversation. No gatekeeping.
Independent appraisals, title work, and asset diligence. We confirm the collateral exists, can be valued, and can be recovered.
Audited financials, cash-flow analysis, sponsor diligence, and stress-tested scenarios. Investment Committee approval with documented rationale.
Counsel-drafted facility documents, security agreements, and intercreditor terms. Clean, institutional, and tailored to the structure.
Wire on schedule. Onboarded into our monitoring and reporting cadence from day one.
Ongoing discussion and follow through on use of capital.
We are early in building a portfolio under the Beckett Industries Private Debt platform. What we are not early in is the discipline behind it. The General Partner carries a four-decade lending record across cycles. The emerging manager is building the next chapter on top of it.
Four decades of senior secured lending across rate regimes, asset classes, and three full credit cycles. The track record above is his.
CFA charterholder leading sourcing, underwriting, and portfolio oversight for ABF Fund I. Credit-trained, operator-adjacent, building the platform from the ground up.
Most emerging managers do not have senior cover. Most veteran partners are not building anything new. We have both, and that pairing is what gets underwritten alongside the collateral.
Track record reflects the historical lending portfolio of Wirt Rivette Group, the senior partnership behind the Beckett Industries Private Debt platform. Supplemental performance history; investors in ABF Fund I are not guaranteed these results.
Fundraising for sidecar deals begins Q2 2026. Senior secured, collateral-first lending across four asset-backed strategies.
Private placement memorandum (PPM), tear-sheets, and detailed transaction case studies available to Qualified Purchasers under NDA. Targets are not guaranteed and are subject to definitive offering documents.
Every dollar on this platform is underwritten, structured, and stewarded by the operators below. They sign the deals, sit on the boards, and answer the calls.
Practical questions from founders, sponsors, and LPs: grouped by topic, answered directly. Need something not covered here? Start a conversation.
We respect the confidentiality of information shared with us. We have standard protocols in place to protect sensitive material throughout discussions and diligence, and we are open to reviewing and signing CAs/NDAs where warranted.
Yes, modestly and by design. The fund is structured to employ a subscription and asset-based credit facility targeting approximately 2.0x debt-to-equity, with a hard cap of 2.5x set in the LPA, sized so that a $50M equity fund supports approximately $150M to $160M of senior secured lending capacity. Facilities will be provided by institutional bank partners on terms matched to the duration and cash-flow profile of the underlying loans, with advance rates and covenants set well inside facility limits to preserve flexibility through a full credit cycle. Where additional leverage is warranted on a specific transaction, it is structured deal-by-deal through a dedicated SPV to maintain structural separation and proper creditor isolation from the fund.
The LPA establishes hard limits at the borrower, sector, and collateral-type levels: no single borrower exceeds 10% of committed capital, no single sector exceeds 25%, and no single collateral type exceeds 40%. Geographic concentration is monitored quarterly. Limits are tested at every new commitment and reported to LPs each quarter.
The GP and affiliated principals commit a minimum of 2% of total fund commitments alongside LPs. The LPA includes a standard key-person provision: if Clarence Rivette or the lead portfolio manager ceases to devote substantially all business time to the fund, the investment period is automatically suspended pending an LPAC vote to reinstate or replace.
Monthly financials, collateral updates, proof of insurance, and covenant compliance. Proportional oversight that protects and enables both parties without adding friction.
Quarterly investor letters, audited annual reports, and transparent access to fund performance metrics through a secure investor portal.
Partner-authored briefings from the private debt desk.
After more than 40 years in lending, development, and operating businesses, Clarence Rivette reflects on why Beckett Industries is the right platform for the next chapter.
Beckett Industries is building an institutional private debt platform around collateral, discipline, and people who have lived through cycles.
Spending his time patiently underwriting credit and equity opportunities one decision at a time, Zach Terpstra, CFA reflects on the craft of saying no within Beckett Industries.
Partner-authored. Quarterly cadence. No newsletter noise.
