Smart Lenders Asset Management

Smart Lenders Asset Management is a Paris-based asset management company specializing in alternative credit and marketplace lending. Founded in 2014 by Erich Bonnet, the firm provides institutional investors with access to loans originated on digital platforms across the United States and Europe. Bonnet, who serves as CEO and CIO, leveraged his 35 years of experience in trading and asset management to establish the company after identifying the potential in bank disintermediation and digital financial decision-making. His interest was sparked in 2012 by a meeting with the founder of Lending Club, leading him to launch Smart Lenders AM to open up this asset class to European investors.

The company's business model centers on creating and managing investment funds that purchase loans from online lending marketplaces. It serves institutional and professional investors by offering investment vehicles designed to generate returns with low correlation to mainstream financial market volatility. Revenue is generated through management fees on its assets under management. The firm's strategy involves a data-driven investment process, using proprietary credit scoring models and machine learning to analyze and select high-quality platforms and individual loans. They have studied over 200 platforms to establish partnerships for sourcing loans.

Smart Lenders AM manages two primary funds: the Moonstone Lending Fund SICAV SIF, which is the largest marketplace lending fund in Continental Europe, and The Lending Smart Fund 1, a debt fund designed to support the European fintech ecosystem. The firm invests in a diverse range of credit types, including consumer loans, small and medium-sized business (SMB) loans, and newer niches like Buy Now Pay Later (BNPL) and Revenue-Based Financing (RBF). This diversification across borrowers and geographies is a core component of its risk management framework. The company follows a buy-and-hold approach, as investments are typically held to maturity. Significant milestones include transferring its activities to France in 2018, receiving a 5% equity investment from Matmut in 2020, and surpassing the $2 billion mark in total financed loans by June 2023.

Keywords: alternative credit, marketplace lending, asset management, debt fund, institutional investors, fintech lending, private credit, credit scoring, investment management, direct lending, P2P lending, consumer loans, SMB lending, Erich Bonnet, Moonstone Lending Fund, The Lending Smart Fund 1, European fintech, alternative investments, specialty finance, crowdlending