Conflicts of interest policy

Kerdo performs several roles for the series it arranges and may invest its own capital. This summary describes how potential conflicts between those roles are identified and managed.

Roles

• Selection of transactions in private companies and secondary positions
• Arranger of the series issued for each transaction by a Luxembourg securitisation company, under a services agreement
• Recipient of arranging fees and, where applicable, a share of the gain at exit, as set out in the documentation of each series
• Possible co-investor of its own capital in a series or in the same company

Measures

• Independence of the issuer: notes are issued by securitisation companies that are not owned by Kerdo.
• Third-party publication: valuations are published through the paying agent of each series, an independent party.
• Documented methods: valuation methods and fee calculations are fixed in the Final Terms before issue.
• Disclosure: where Kerdo or its shareholders have an interest in a borrower, a target company or a series, the interest is disclosed in the documentation of the series.
• Records: decisions on valuations and on the selection and pricing of transactions are recorded and available to the issuer’s board and auditors.

Review

This policy is reviewed at least annually. Questions can be addressed to info@kerdo.io.