Allocation Subtype narrows the Allocation Type to a specific investment strategy or instrument. For an Equity allocation, subtypes include Venture Capital, Growth Equity, Buyout, and Private Equity. For a Debt allocation, subtypes include Senior Secured Debt, Mezzanine, Venture Debt, and Distressed Debt. For a Commitment allocation, the subtype typically reflects the fund strategy (e.g. Fund of Funds, Direct Lending).
Allocation Subtype is used throughout the platform to enable precise filtering and comparison. For example, an investor may have a mandate for Growth Equity (an Equity allocation subtype) but not for Buyout, even though both are equity strategies. Pairing Allocation Type with Allocation Subtype gives the clearest picture of an investor's or fund's strategy.