Access top private market funds in one portfolio to guard against market volatility
10.2% average client return after fees
Performance
10,000+ assets
Diversification
16 established fund managers
Quality
Heron helps you diversify beyond stocks and bonds through private markets.
Historically higher returns than bonds
Typically lower volatility than stocks
Exposure to thousands of private market assets
Automated portfolios with white-glove support.
Get a private market portfolio recommendation including private credit and/or private equity funds
Invest and start earning from 16+ funds
Receive monthly income payments or automatically reinvest your earnings
Optional 1:1 support, every step of the way
Multiple asset classes to diversify your private market exposure.
Private credit
Offers investors income-generating opportunities through non-bank lending to private companies.
Access to 12+ private credit managers and all 11 GICS sectors
Aims to generate higher income than bonds and real estate
Funds on Heron have delivered 0000 after fees since inception
Private equity
Aims to deliver investors long-term returns via investments in privately held companies.
Access to 7,000+ portfolio companies from globally experienced funds
Aims to generate higher income than bonds and real estate
Funds on Heron have delivered 0000 after fees since inception
Private credit
Offers investors income-generating opportunities through non-bank lending to private companies.
Access to 12+ private credit managers and all 11 GICS sectors
Aims to generate higher income than bonds and real estate
Funds on Heron have delivered 0000 after fees since inception
Private equity
Aims to deliver investors long-term returns via investments in privately held companies.
Access to 7,000+ portfolio companies from globally experienced funds
Aims to generate higher income than bonds and real estate
Funds on Heron have delivered 0000 after fees since inception
Access to established private market funds.
Select an asset class
Allocation
KKR FS Income Trust
$117B
12.52%
+20 years
14.3%
KKR FS Income Trust (KFIT) seeks to generate current income by primarily investing in senior secured loans. The fund aims to invest (i) at least 60% of its total assets in first lien, senior secured loans of private middle-market U.S. companies, (ii) up to 30% of its total assets in non-corporate lending opportunities within the private asset-based finance sector, and (iii) to a lesser extent, in subordinated loans of private U.S. companies. The fund is jointly managed by KKR and FS Investments.
$117B
AUM
+20 years
Track record
8.9
Quality score
12.52%
Returns
4.71%
Premium to benchmark
Stellus Private Credit BDC
$4B
12.52%
+13 years
13.7%
Stellus Private Credit BDC (SPCB) originates and invests primarily in lower middle-market companies in the U.S. These companies generally have EBITDA between $5 million and $50 million. SPCB seeks to invest in businesses with strong operating and financial fundamentals, high quality management teams, sustainable competitive advantages and the ability to deleverage over the investment hold period through high levels of free cash flow generation. The fund is actively managed by Stellus, which has been focused on direct lending since the mid-2000s.
$4B
AUM
+13 years
Track record
7.8
Quality score
12.52%
Returns
0.90%
Premium to benchmark
PGIM Private Credit Fund
$8B
13.63%
+25 years
10.5%
PGIM Private Credit Fund (PGIM) seeks to generate current income and, to a lesser extent, long-term capital appreciation. PGIM primarily invests in privately placed floating rate leveraged debt, including, but not limited to, senior secured, first lien, debt issuances in middle market companies primarily in the U.S., as well as up to 30% of its total assets in investments in other countries (primarily Canada, Europe, Australia and Latin America). The fund is actively managed by PGIM Private Capital, with over $100 billion in credit AUM and an established direct-lending track record since 2000. PGIM Private Capital is part of Prudential's investment management business, which is one of the top 10 largest asset managers worldwide, managing more than $1 trillion of assets.
$8B
AUM
+25 years
Track record
8.6
Quality score
13.63%
Returns
3.84%
Premium to benchmark
Apollo Debt Solutions BDC
$288B
8.51%
+17 years
8.7%
Apollo Debt Solutions BDC (ADS) focuses on senior secured large corporate direct origination, broadly syndicated loans, and, to a lesser extent, middle market direct lending. While most BDCs concentrate on middle market lending, ADS focuses predominately on large-cap origination. Apollo believes investing in large-scale corporations comes with distinct advantages: it creates a more sustainable product, avoids a fragmented middle market that can often lead to price compression, and potentially reduces risk because the entities involved are typically more stable. Apollo is considered the largest global alternative credit manager.
$288B
AUM
+17 years
Track record
8.8
Quality score
8.51%
Returns
-0.04%
Premium to benchmark
T. Rowe Price OHA Select Private Credit Fund
$53B
7.61%
+23 years
8.4%
T. Rowe Price OHA Select Private Credit Fund (OCREDIT) seeks to generate attractive risk-adjusted returns, predominately in the form of current income, with select investments capturing long-term capital appreciation, while maintaining a strong focus on downside protection. OCREDIT invests primarily in directly originated and customized private financing solutions, including loans and other debt securities with a strong focus on senior secured lending to larger companies. To a lesser extent, OCREDIT also invests in equity interests, which generally would be obtained as part of providing a broader financing solution. While most of its investments are in U.S. companies, from time to time, OCREDIT also expects to invest in European and other non-U.S. companies. The fund is actively managed by Oak Hill Advisors, which has been making private credit investments for more than two decades. Oak Hill Advisors is part of T. Rowe Price's $1+ trillion asset management platform.
$53B
AUM
+23 years
Track record
8.1
Quality score
7.61%
Returns
-0.63%
Premium to benchmark
Ares Strategic Income Fund
$301B
10.13%
+21 years
7.4%
Ares Strategic Income Fund (ASIF) seeks to generate current income, the potential for capital appreciation, and attractive risk-adjusted returns through market cycles. ASIF primarily invests in directly originated, senior secured, floating rate loans to U.S. companies. The fund is actively managed by Ares, one of the most experienced private credit firms in the world.
$301B
AUM
+21 years
Track record
8.3
Quality score
10.13%
Returns
0.91%
Premium to benchmark
HPS Corporate Lending Fund
$184B
9.03%
+25 years
7.1%
HPS Corporate Lending Fund (HLEND) seeks to generate attractive risk-adjusted returns, predominately in the form of current income, with select investments exhibiting the ability to capture long-term capital appreciation. HLEND's investment strategy focuses primarily on newly originated, privately negotiated senior credit investments in high-quality, established upper middle market companies and, in select situations, companies in special situations. While HLEND's strategy primarily focuses on companies in the U.S., the fund also intends to HPS's global presence to invest, to a lesser extent, in companies in Europe, Australia and other locations outside the U.S. HLEND also includes a smaller allocation to more liquid credit investments such as broadly syndicated loans and corporate bonds to maintain liquidity. The fund is actively managed by HPS, which was established in 2007 as a unit of Highbridge Capital, a subsidiary of J.P. Morgan Asset Management. In 2024, BlackRock and HPS entered into a definitive agreement for BlackRock to acquire HPS.
$184B
AUM
+25 years
Track record
8.0
Quality score
9.03%
Returns
-0.54%
Premium to benchmark
Golub Capital Private Credit Fund
$82B
9.96%
+31 years
6.8%
Golub Capital Private Credit Fund (GCRED) primarily targets borrowers in the middle market and upper middle market. GCRED intends to focus on resilient companies in growing, non-cyclical sectors it believes can perform in various market environments. The fund seeks to lend to companies that are market leaders with diversified revenue sources and loyal customer bases. GCRED is actively managed by Golub, which is a true pioneer in private credit, having been making loans since the mid-1990s.
$82B
AUM
+31 years
Track record
8.3
Quality score
9.96%
Returns
0.61%
Premium to benchmark
TPG Twin Brook Capital Income Fund
$99B
10.59%
+19 years
6.8%
TPG Twin Brook Capital Income Fund (TCAP) invests principally in privately originated senior secured loans to U.S. middle market companies. TCAP's origination strategy focuses on private equity-backed middle market companies with revenue generally under $500 million. The fund is actively managed by TPG Angelo Gordon, a diversified credit and real estate investing platform that was acquired by TPG in 2023. TPG, founded in 1992, is a leading global alternative investment firm with over $200 billion in AUM.
$99B
AUM
+19 years
Track record
8.8
Quality score
10.59%
Returns
2.00%
Premium to benchmark
Antares Private Credit Fund
$77B
10.40%
+29 years
6.6%
Antares Private Credit Fund (ABDC) seeks to generate primarily current income by focusing on private credit investments structured as senior secured loans to U.S. borrowers. These loans are generally expected to have an average contractual term of five to seven years, with an expected life typically between three to four years. To a lesser extent, ABDC’s portfolio has a small allocation to more-liquid credit investments such as broadly syndicated loans and corporate bonds, primarily for cash management purposes. ABDC is actively managed by Antares Capital, one of the most experienced private credit managers in the world. At its founding in 1996, Antares was backed by MassMutual. In 2005 it was sold to GE Capital. In 2015, it was sold to CPP Investments, one of the largest pension funds in the world.
$77B
AUM
+29 years
Track record
8.9
Quality score
10.40%
Returns
2.29%
Premium to benchmark
Crescent Private Credit Income Corp
$36B
11.91%
+33 years
6.4%
Crescent Private Credit Income Corp (CPCI) seeks to generate current income and, to a lesser extent, long-term capital appreciation through debt and related equity investments. CPCI invests primarily in directly originated assets, with a focus on first lien senior secured loans (including unitranche loans). CPCI's primary focus is to invest in companies with EBITDA of $35 million to $120 million; however, the fund may invest in larger or smaller companies. The fund is actively managed by Crescent, which is one of the most experienced private credit firms in the U.S., having been making middle market loans since the early 1990s.
$36B
AUM
+33 years
Track record
8.4
Quality score
11.91%
Returns
0.93%
Premium to benchmark
Monroe Capital Income Plus Corp
$17B
10.30%
+19 years
3.1%
Monroe Capital Income Plus Corp (MCIP) is focused on providing financing solutions primarily to lower middle-market companies in the U.S. and Canada. MCIP seeks to generate attractive risk-adjusted returns and downside protection by investing primarily in secured private credit transactions and assets. The fund is actively managed by Monroe Capital, which was founded in 2004, is headquartered in Chicago, and currently maintains 10 offices across the U.S. and Asia.
$17B
AUM
+19 years
Track record
7.8
Quality score
10.30%
Returns
-1.06%
Premium to benchmark
Invest with confidence.
SEC
Registered
Heron Finance is an SEC-registered investment advisor.
$1.5 trillion
Aggregate manager AUM
Exposure to managers that oversee some of the world's largest private market funds.
20+ years
Avg manager track record
Private market managers with experience navigating market cycles.
Trusted by investors like you
“As an economist, I value diversification. Heron Finance has expanded my portfolio beyond stocks and bonds into private credit—and within that space, diversified across high-quality funds. The returns have been very good and Heron Finance is now part of my long term financial strategy.”
Alex Tabarrok
Chair in Economics, George Mason University
“After 20+ years at Google, the consistent income that Heron provides has helped support my transition to teaching, a lifelong passion of mine. The diversification is really great, and the team has been super responsive.”
Matt Waddell
STEM Educator, founder, ex-Google product leader
“Hands down, the smartest way to invest in Private Credit!
Heron Finance checks all the boxes if you're looking to invest in Private Credit! According to your risk profile, you get a diverse mix of some of the worlds largest private credit funds managed by experienced professionals with a proven track record of success. That coupled with each funds inherent protection of predominately First Lien loans, use of covenants and low market correlation, along with Heron's added liquidity and ease of onboarding, and all for a very reasonable fee, make this such a wonderful investment vehicle. Though you do need to be an "Accredited Investor", their minimum investment is only $5,000 and you do not need an Investment Advisor to participate! Add to that you'll get direct access to Blake, Mike, Khang (all brilliant people) and the rest of the team who've been exceptionally responsive along the way so far! Highly Recommend!”
Steven Moss
From Trustpilot
“Finally a platform for retail to invest in private credit.
Super easy to sign up and safe platform. I used to work in this industry and would have loved to invest in private credit but it has always been a market only for institutional buyers until Heron. They like a robo advisor for private credit. Why private credit? You get strong returns for lower risk compared to stocks and bonds.”
Jose
From Trustpilot
“Easy diversification, full transparency and control
Easy onboarding, easy diversification, full transparency and control over how to allocate your funds. If I want to add more money, I can just do it myself, don't need to fill out forms or pay wire transfer fees like I do with other private credit funds.”
Oleg
From Trustpilot
“Great Platform to invest with.
Finally a company that brings private credit investing to the retail investor! They are great to work with and now I can diversify my portfolio with greater returns than traditional high yield savings and bonds.”
John McKee
From Trustpilot
Your questions answered.
$5000 minimum investment.
Significantly lower than any of the underlying funds.
1% annual management fee.
Simple flat rate, already deducted in returns shown.
Request to sell at any time.
We aim to fulfill requests within one quarter. View the full redemption policy.
We support tax advantaged accounts like IRAs and 401ks.
Heron has partnered with AltoIRA to make this very easy. If you have an existing IRA or 401(k) account, you can transfer funds for free, or you can deposit cash through Alto. For more information, see our help center article here.
In Heron's private credit strategies, there are thousands of loans, loan defaults are rare, and most of our loans are first in line for repayment.
When you open a private credit portfolio with Heron, you gain exposure to multiple high-quality funds with over 3000 loans. These loans are 95% or more first lien. First lien debt holders are paid back before all other debt holders making the chance of a loss very low. And if one loan does have a loss, your Heron portfolio has over 3000 more loans, providing protection from a high level of diversification. Read our article to learn more about our approach to risk mitigation.
In the unlikely event that Heron goes out of business, your money is safe.
To start, we don't plan to go out of business! We are backed by large institutional investors, generating revenue, and maintaining an ample runway. As any business should, we maintain a continuity plan.
In the highly unlikely event that we did wind down the business, your money is still safe. At a high level, here's what you need to know and how it would wind down:
- All LP shares of funds are held in a separate, bankruptcy-remote legal entity from the one that we use to run our day-to-day operations. Second, Heron Finance works with a qualified custodian, Inspira, that custodies said LP shares.
- In the event that Heron Finance's operating entity were to shut down, we would submit redemption requests to all of the funds.
- Then that separate holding entity and Inspira would work to identify a backup service provider that could manage the redemptions and work to facilitate the return of your capital.
Heron is available to US accredited investors. See what is required to qualify.
Anyone automatically qualifies as an “accredited investor” if they meet just one of the following criteria:
- Income: Individual income of $200,000, or joint (with a spouse or partner) income of $300,000 for the two prior years, with the same anticipated in the current year
- Net Worth: Individual or combined (with a spouse or partner) net worth of $1 million or greater, excluding your primary residence
- Exam: A Series 7, 65, or 82 in good standing
You can verify your status as an accredited investor as a part of our sign-up process. The documents you need will depend on the method of verification. You only need to verify via one of the following:
- Income verification: Connect your payroll provider, or upload W-2s, K-1s, 1099s, paystubs, or tax returns to verify your income
- Net worth verification: Bank statements, brokerage statements, securities holdings statements, certificates of deposit, tax assessments, or appraisal reports (Note: when you use the net worth verification, we pull a “soft” credit report that will not impact your credit score.)
- 3rd party letter: A letter from an attorney or accountant testifying that you are accredited
To learn more about how to become accredited, see our article: 4 Easy Steps to Becoming an Accredited Investor.
Returns represent overall performance, including interest and net changes in principal (accounting for any appreciation/depreciation).
Interest typically represents the primary source. When a fund appreciates or depreciates, it reflects the changing market value of the fund's underlying assets. Month over month fluctuations are normal. This does not affect interest payments. Fund appreciation/depreciation is expected and is factored into all estimated returns.
Learn more
Private credit in volatile markets
Heron Finance seeks to improve liquidity for its investors. This article explores our approach to liquidity, redemptions and lockup periods.
Monthly insights from Heron: Time to tune out Jamie Dimon
Learn why investors are moving away from the traditional 60/40 stock-to-bond portfolio, and how they're allocating their investments.
Private credit: 5 charts all investors need to see in 2025
We created the Personalized Private Credit portfolio for U.S. accredited investors to gain exposure to institutional-quality private credit.
Private credit in volatile markets
Heron Finance seeks to improve liquidity for its investors. This article explores our approach to liquidity, redemptions and lockup periods.
Monthly insights from Heron: Time to tune out Jamie Dimon
Learn why investors are moving away from the traditional 60/40 stock-to-bond portfolio, and how they're allocating their investments.
Private credit: 5 charts all investors need to see in 2025
We created the Personalized Private Credit portfolio for U.S. accredited investors to gain exposure to institutional-quality private credit.
Get your private market portfolio recommendation.
10.2% average client return after fees
Up to 10,000+ assets in each portfolio
16+ highly ranked private market funds
White-glove support at every step.
Get a personalized platform tour
Understand the data and past performance
Walk through your portfolio before investing
Charts, images, and other visual materials are for illustrative purposes only and should not be considered individualized investment advice. The strategies shown may not be suitable for all investors.
The information on this website does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Further, none of the information contained on this website is a recommendation to invest in any securities or a recommendation of any interest in any investment offered by Warbler Labs, Inc. or any of its subsidiaries (collectively, “Warbler”).
Any financial forecasts or financial returns, whether in the form of interest or appreciation displayed on this website are for illustrative purposes only and are not a guarantee of future results. Private credit investments are subject to credit, liquidity, and interest rate risk. In the event of any default by a borrower, you will bear a risk of loss of principal and accrued interest on such loan, which could have a material adverse effect on your investment. A borrower may default for a variety of reasons, including non-payment of principal or interest, as well as breaches of contractual covenants. Credit risks associated with the investments include (among others): (i) the possibility that earnings of a borrower may be insufficient to meet its debt service obligations; (ii) a borrower's assets declining in value; and (iii) the declining creditworthiness, default, and potential for insolvency of a borrower during periods of rising interest rates and economic downturn.
Any investment target return presented here is intended for informational purposes only and does not guarantee future performance or results. This model assumes no variability, including no loan defaults, fluctuations in interest rate, customer withdrawal requests, late payments, or penalties, and our management fees have remained unchanged throughout this projection. Please be aware that all investment involves inherent risks, and past performance is not indicative of future outcomes. Customers are advised to consult their own legal and tax advisers regarding their specific circumstances and needs. We do not accept any liability for any loss or damage arising from the use of this information or for any actions taken based on this information without seeking professional advice.
Private equity investments involve a high degree of risk, including the potential loss of the entire investment, illiquidity, long holding periods, limited transparency, and sensitivity to economic and market conditions. Diversification does not ensure a profit or protect against loss, and past performance is not indicative of future results. Comparisons to individual private funds, public markets, institutional portfolios, or other benchmarks are provided for illustrative purposes only. These may not represent a direct comparison, may rely on data reported by third-party managers, and may reflect differing methodologies, time periods, or investment universes. Data from underlying fund managers may be subject to reporting lag, estimation, or revision.
No communication by Heron or any of its affiliates through this website should be construed or is intended to be investment, tax, financial, accounting, or legal advice. Heron Advisory, Inc., d.b.a. Heron Finance is an SEC-registered investment advisor (RIA). Such registration should in no way imply that the SEC has endorsed the entities, products or services discussed herein.