About LYNK Capital
The LYNK Capital Fund is a private credit fund that makes first-lien renovation and construction loans to builders of residential properties. The Fund fills a gap in the marketplace by providing fast, flexible financing to borrowers that are not well-served by traditional banks.
The loans held by the Fund typically have terms between 12 and 24 months and interest rates above traditional longer-term mortgages. Principal is secured by recorded first-lien mortgages on real estate, as well as personal guarantees from project sponsors.
Our Objective
We seek to provide investors with attractive risk-adjusted returns, prioritize capital preservation, and help builders and developers invest in the development of housing options in communities throughout the United States.
Portfolio Characteristics
As of September 30th, 2025
Portfolio Highlights
Performance Metrics
(Non-compounded, Class I shares)
Performance History
LYNK Capital Fund, L.P. was founded in 2013 and has made monthly distributions in every month since its inception. The performance data below shows annualized returns based on Net Asset Value as of September 30th, 2025.
Performance Summary
As of September 30th, 2025
| Class | Annualized Distribution Rate5 | Net Asset Value | Current Quarter | 6-month6 | 1-year6 | 3-year6 | 5-year | 10-year |
|---|---|---|---|---|---|---|---|---|
| Class I | 9.16% | 0.992 | 9.08% | 8.56% | 8.73% | 9.55% | 9.19% | 9.25% |
| Class A7 | 7.96% | 0.992 | 7.88% | 7.36% | 7.53% | 8.35% | ----- | ----- |
| Class B7 | 7.68% | 0.992 | 7.61% | 7.11% | 7.27% | 8.06% | ----- | ----- |
* All returns are shown on an annualized basis. We first calculated our NAV per Unit as of December 31, 2024. Prior to that time, we held the price for sales and redemptions of Units at $1.00 and, to the extent that income exceeded the amount distributed to unitholders, the excess was allocated to loan loss reserves, which is reflected in our initial NAV calculated as of December 31, 2024, of $1.01. Total returns are calculated as the percent change in price per Unit for the applicable period using the fixed $1.00 per Unit price for dates before December 31, 2024, and the NAV per Unit for December 31, 2024, and after, plus the amount of any distribution per Unit paid in the period. Our NAV per Unit reflects expenses for management fees, fund expenses, and provisions for loan loss reserves. Distributions are not guaranteed and may be funded from sources other than cash flow from operations, including the sale of assets, borrowings, or offering proceeds and there are no limits on the amounts paid from such sources. Past performance is historical and not a guarantee of future results.
Offering Highlights & Fund Terms
Unit Classes
| Class I | Class A | Class B | |
|---|---|---|---|
| Availability | RIA, Direct Sales | RIA, Broker/Dealers | RIA, Broker/Dealers |
| Sales fees paid by investor9 | 0% upfront; 0% monthly | 0% upfront, 0.1% monthly (monthly fee charged until 9% is recouped) | 3% upfront, 0.1% monthly (monthly fee charged until 4% is recouped) |
Fee Structure
Refer to the Fund's PPM for a complete description of fees. The Investment Manager will be paid the following fees:
Summary of Risk Factors
An investment in the Fund involves a high degree of risk and is not a liquid investment. Only investors that can afford the complete loss of their investment should invest. Investors must carefully read the information set forth the "Investment Considerations and Risk Factors" section of the Fund's Private Placement Memorandum before investing. Risk include, but are not limited to:
- Investors will not have the opportunity to evaluate the Fund's future assets before they are acquired. The Investment Manager will have substantial control over the types of assets acquired, which may be different than the types of assets proposed herein.
- Any returns are highly speculative and there can be no guarantees that any future returns will be realized or any distributions paid. Any distributions paid may be made from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, additional capital raised, or other non-operational sources.
- There is no public market for an investment in the Fund and the only source of liquidity will be through a redemption processed by the Fund. At most times, the Fund may have limited, or no, ability to fulfill redemptions, and the Investment Manager will have significant discretion over the timing and availability of redemptions. In addition, the Fund's Private Placement Memorandum outlines specific limits and restrictions on the availability of redemptions.
- The offering and redemption prices will be based on the Fund's Net Asset Value rather than any public trading market. The Investment Manager will have significant discretion over the calculation of the Fund's Net Asset Value and the methods used to determine the Net Asset Value will be subjective and may prove to be inaccurate.
- There are limits on the ownership and transferability of an investment in the Fund.
- The Fund intends to use leverage to acquire assets. The user of leverage involves a high degree of risk and will increase the exposure of investments to adverse economic factors. Principal and interest payments on debt will decrease the amount of cash available for investment purposes and redemption requests.
- Investing in real estate debt involves many specific risks that are further defined in the Fund's Private Placement Memorandum.
Footnotes
1 The FTSE NAREIT Mortgage REITs Index is a free-float adjusted, market capitalization-weighted index of U.S. Mortgage REITs. Mortgage REITs include all tax-qualified real estate investment trusts ("REITs") with more than 50 percent of total assets invested in mortgage loans or mortgage-backed securities secured by interests in real property. An investment in LYNK Capital Fund is different than the FTSE NAREIT Mortgage REIT Index, which is not an investable index. Like funds in the FTSE NAREIT Mortgage REIT Index, LYNK Capital Fund invests in mortgage loans. However, LYNK Capital Fund is not a REIT and is not listed on an exchange. Past performance does not guarantee future results.
2 The Sharpe ratio is the average return earned in excess of the risk-free rate, as measured by the U.S. Treasury Bill, per unit of volatility or total risk. Generally, the greater the value of the Sharpe ratio, the more attractive the risk-adjusted return. Because LYNK Capital Fund's NAV has historically been held constant, volatility may be understated in this calculation.
3 Loan-to-value (LTV) is a financial ratio that compares the amount of a loan to the value of the asset being financed. The "as-completed" value refers to the estimated value of the real estate after any proposed renovations, construction, or stabilization has occurred. This value is an estimate based on assumed future conditions and is often significantly higher than the initial value of the property. If the borrower is unable to successfully complete the Property Improvements, or if market conditions change, the "as completed" value may not be realized.
4 Outstanding debt divided by the book value of the fund's partnership equity interests.
5 The Annualized Distribution Rate is expressed as a percentage equal to the actual annualized distribution amount paid per unit in the most recent calendar quarter, divided by the NAV per unit. Because the quoted distribution rates reflect a return of capital or other non-income items such as loan proceeds or borrowings, the distribution rate should not be interpreted as yield or total return.
6 Returns shown are inclusive of the upfront and monthly sales fees. The monthly fee is charged to each investor for a limited period; however, due to the complications of modeling this for each investor over various time periods, the returns displayed assume that the monthly fee is charged indefinitely.
7 The inception dates for each class are January 2013 for Class I Units and October 2024 for Class A & Class B Units. Returns shown for periods prior to the inception date of each class are hypothetical returns calculated by applying the class-specific fee structure to the actual Class I returns.
8 LYNK Capital Fund can, at its discretion, sell portions of its loan portfolio and arrange a "servicing agreement" with the purchaser. Compensation paid will be tied to loan servicing responsibilities such as payment collection, loan status monitoring, and reporting on loan performance.
9 Upfront fees are assessed as a percentage of initial purchase price. Refer to the Fund's Private Placement Memorandum for a full list of fees and expenses. The monthly fee, referred to as the "Investor-Specific Reimbursement Amount" in the Private Placement Memorandum, (0.1% for Class A & B Units) are a percentage of the total purchase price, not the distribution amount.
10 The Investment Manager will have significant discretion when determining the NAV. The NAV is not required to be calculated by an independent third party. The methods used to determine the Net Asset Value will be subjective and may prove to be inaccurate. NAV represents the Investment Manager's calculation of the value of the Fund's assets less outstanding liabilities, calculated in accordance with the Fund's valuation guidelines.
11 Distributions are not guaranteed and will be made only to the extent that the Fund has available cash flow. All distributions will be made at the sole discretion of the General Partner.
12 Redemptions are possible only as assets in the Fund's portfolio are repaid, the timing of which is extremely uncertain. Investors should not have any expectations of liquidity or of a return of capital upon any schedule. Additional conditions regarding redemption requests are contained in the Fund's Private Placement Memorandum.
LYNK Capital Fund, L.P. (the "Fund") is a private investment fund that includes a high degree of risk and is appropriate only for accredited investors who are willing to forego liquidity and to risk the loss of their entire investment. Investors must consider the investment objectives, risks, and expenses of the Fund carefully before investing. This and other information are contained in the Fund's Private Placement Memorandum. You must read the Private Placement Memorandum carefully before you invest.
The information in this document is considered to be accurate as of September 30, 2025. The terms summarized herein are for informational purposes only and are qualified in their entirety by the more detailed information set forth in the Fund's Private Placement Memorandum. This material must be read in conjunction with the Fund's Private Placement Memorandum. This document does not constitute an offer to sell any securities, which is made only by the Private Placement Memorandum.
The Fund is offering securities through a Regulation D, Rule 506(c) offering and is open only to accredited investors as defined in Rule 501 of Regulation D. Prior to investing, the Fund is obligated to verify any participating investor's status as an accredited investor.
The Fund's past performance is not a reliable indicator, or a guarantee, of future results. All investments contain risk and may lose value. Any historical performance data contained herein represents past performance and does not guarantee future results; current and future performance may be different than the performance data presented.
Securities offered through Arete Wealth Management LLC, member FINRA/SIPC. Arete Wealth Management LLC is not an affiliated company of LYNK Capital Fund, L.P. or LYNK Capital Management Company LLC.