Pearl Diver Capital
Institutional investorLondon
Investment thesis
Pearl Diver Capital applies a data-driven investment approach to the CLO and leveraged loan market, complementing traditional fundamental credit analysis and cashflow modelling with machine learning. The firm maintains proprietary data assets including a daily-updated database of 2,000+ credit-risk-priced leveraged loans, a scraped library of roughly 150,000 CLO trustee reports, multi-stress cashflow modelling for over 17,000 CLO tranches, and an NLP-based real-time trade data capture engine. It conducts extensive portfolio due diligence and manager analysis. Its stated objectives are NAV preservation, credit loss minimisation, agile relative-value trading, optimised all-weather risk-adjusted portfolios, and capturing alpha from CLO manager style and performance analysis.
Source: firm website, verified Aug 6, 2026.
Fund performance · per public LP disclosures
as of Mar 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Pearl Diver Empire Fund LPLPs: Empire State Development – New York Ventures | 2020 | — | — | 1.50x | 0.00x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- Where is Pearl Diver Capital located?
- Pearl Diver Capital is headquartered in London, GB.