Alpha spread.
Investment-grade credit.
Dolfin originates long-duration, unsecured leases against creditworthy corporate tenants — delivering spread materially above where those credits trade in the public bond market.
Private credit spread
on public-grade borrowers.
The Dolfin Lease is not a bond. It is a private, bilateral obligation — and that illiquidity premium is the return driver. You are lending to the same credits as the IG bond market, but capturing 50–150bps of additional spread because the obligation is originated off-market and undiscovered by the broader market.
Same credit.
Better price.
Hell-or-high-water. Fully amortizing.
$300M deployed. Zero losses.
Where Dolfin
sits in the market.
The alpha comes from origination — not from taking additional credit risk. Dolfin leases price wide of public bonds on the same obligor because they are private, illiquid, and not available to the broader market.
Where Dolfin
sits in the market.
The alpha comes from origination — not from taking additional credit risk. Dolfin leases price wide of public bonds on the same obligor because they are private, illiquid, and not available to the broader market.
By the numbers.
In good company.
Dolfin has closed transactions alongside some of the most respected institutional names in fixed income and alternative credit.
Backed by 10+ leading institutional investors across insurance, asset management, and structured finance.
Dolfin's capital partners are among the most recognized institutional names in long-duration fixed income. Partner details are available to qualified counterparties under NDA.