Metrics
AUM
Also known as: assets under management
status: draft
Assets under management. The total market value of assets that an investment manager oversees on behalf of clients. For credit funds and originators, AUM is a common scale metric used in counterparty diligence.
What to watch
AUM alone does not tell you much. A $5B fund with $4B in dry powder has different risk capacity than one fully deployed. Check committed versus invested capital, fund vintage, and whether AUM includes leverage. For originators, distinguish between serviced portfolio (what they manage) and owned portfolio (what sits on their balance sheet).
Referenced in 39 topics
ABF fund operations fundamentals operations-lifecycle ABF fund operations team structure operations-lifecycle Alternative capital sources overview capital-sources Back leverage (provider perspective) capital-sources Broadly syndicated loan CLOs asset-classes Build vs buy decisions operations-lifecycle Captive insurance companies capital-sources Collateralized loan obligations (CLOs) structures CRE CLOs asset-classes Data and analytics infrastructure operations-lifecycle Due diligence preparation playbooks Evaluating a credit fund's ABF strategy playbooks Evaluating portfolio quality and performance playbooks Financial covenants mechanics Fund accounting and administration for ABF operations-lifecycle Fund compliance and regulatory for ABF operations-lifecycle Fund operations infrastructure for ABF operations-lifecycle Funders and market participants asset-classes Fundraising mistakes to avoid playbooks Insurance-affiliated asset managers capital-sources Key counterparties for credit funds playbooks Key participants asset-classes Litigation finance asset-classes Market intelligence market-landscape Middle market CLOs asset-classes Ongoing portfolio management operations-lifecycle Other capital sources capital-sources Pension funds as direct investors capital-sources Rated note feeders structures Rule 144A offering circular documentation Securities law exemptions legal Selecting a fund administrator playbooks Selecting a servicer counterparties Sourcing capital for ABF funds playbooks Sovereign wealth funds capital-sources Subscription finance / capital call lines structures Technology and infrastructure operations-lifecycle The economics of ABF for originators (worked examples) playbooks Valuation governance accounting-valuation