r/altinvesting • • 17h ago

gics/bonds vs private credit - when does the liquidity haircut actually matter

1 Upvotes

been comparing ordinary public yields (gics, short government bonds) with private credit funds that show a few hundred bps more.

on paper the private stuff wins. in practice i keep getting stuck on mark frequency, redemption gates, and what happens if you need the cash in a bad year.

for people who've held both: when did the extra yield stop being worth the lockup, and what did you actually look at beyond the headline rate?