TTC APAC AIDC Fund I

An open-ended wholesale trust with three asset-backed unit classes.

Denominated in USD, targeting US$500m, letting investors match their risk-return appetite from senior secured income to development-stage equity upside.

Unit classes

Choose your position in the capital stack.

Last-loss tier

Class A

First-Ranking Asset-Backed

7% p.a. target IRR

Strongest, senior-ranking capital protection, secured over stabilised, contracted assets

SecuritySenior asset-backed
Loss orderAbsorbs last
DistributionsQuarterly

Class B

Subordinated Asset-Backed

15% p.a. target IRR

Enhanced returns with strong, second-ranking asset-backing

SecuritySubordinated asset-backed
Loss orderAbsorbs second
DistributionsQuarterly

First-loss tier

Class C

Preferred Equity

30%+ p.a. target

Highest potential returns via development-stage exposure; no asset collateralisation

SecurityEquity (unsecured)
Loss orderAbsorbs first
UpsideResidual returns

Target returns are targets only and are not guaranteed; capital is at risk. Distributions are generally paid quarterly in arrears, subject to available funds. Indicative capital stack: Class A 60% / Class B 20% / Class C 20%.

Loss waterfall

Structured to protect senior capital first.

Class C (equity) absorbs losses first, then Class B, then Class A. Illustrated below on an assumed US$500m asset value — for illustration only.

Scenario	Class A (US$m)	Class B (US$m)	Class C (US$m)	Total remaining
No loss / impairment	300	100	100	US$500m
Impairment of US$150m	300	50	—	US$350m
Impairment of US$250m	250	—	—	US$250m

Illustrative only. Class C absorbs the first US$100m of loss and is fully written down before Class B is impaired; Class A is impaired only after both Class C and Class B are exhausted.

Key terms

Fund at a glance.

Fund	TTC APAC AIDC Fund I — a wholesale managed investment scheme, structured as an Australian unit trust (open-ended).
Trustee & issuer	Sapien Capital Partners Ltd (ACN 088 810 860, AFSL 238128).
Investment Manager	Tik Token Capital Pty Ltd (ACN 701 345 799), a corporate authorised representative of the Trustee.
Denomination	United States dollars (USD). Units are issued, valued, distributed and redeemed in USD.
Target raise	US$500 million, with capacity to scale via subsequent closes and additional unit classes.
Investment term	Open-ended.
Distributions	Quarterly, subject to availability of funds.
Redemption	By request with at least 3 months' notice, subject to available liquidity and the Trust Deed.
Secondary liquidity	Investor-matched transfers via Liquidise and RWAC (subject to Trustee approval; not a guaranteed buy-back).
Eligibility	Wholesale investors only (s761G / s761GA, Corporations Act 2001 (Cth)).

Fees & expenses

Transparent, aligned economics.

Fee / expense	Amount	How & when paid
Annual management fee	2.0% p.a. of Total Asset Value (TAV)	Quarterly in arrears
Performance fee (carried interest)	20% of investment profits — Class C only	On realisation, subject to an annual high-water mark
Third-party administration	Capped at the greater of US$400k p.a. or 0.6% of Fund assets	Quarterly in arrears, per actual invoices

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