Percent has launched PCTX, a standalone electronic venue designed to improve liquidity discovery and transaction workflows in the institutional private credit market.
Operating separately from Percent’s existing platform, PCTX is designed for institutional investors and asset managers seeking a more structured way to identify liquidity, evaluate assets and manage transactions involving directly originated private credit.
Private credit transactions have traditionally relied heavily on bilateral processes involving emails, spreadsheets and phone calls. PCTX aims to bring liquidity discovery, negotiation, documentation and settlement workflows into a single electronic environment.
The venue targets private credit asset managers, direct lenders, insurance companies, banks, family offices and other institutional market participants. Its tiered visibility model allows users to identify potential assets and counterparties while limiting access to sensitive information until a potential transaction progresses.
PCTX supports indications of interest involving individual loans and loan portfolios, alongside institutional fixed-income protocols including BWICs and OWICs. Loan information can be entered manually, uploaded through spreadsheets or integrated directly from portfolio management systems.
The platform was already live at the time of its launch, with more than a dozen asset managers representing approximately $250 billion in private credit assets under management signed up, according to Percent.
Prath Reddy, co-founder and CEO of Percent, said the platform was developed to address the gap between the rapid expansion of private credit and the infrastructure available to institutions seeking liquidity and price discovery.
PCTX focuses on traditional, directly originated loans and is intended to provide a more structured workflow for institutions operating in the private credit market.
The venue does not facilitate transactions in securities and is not registered as a broker-dealer, national securities exchange or alternative trading system. It permits preliminary, non-binding indications of interest involving eligible private credit assets that are not securities.
