Generally, managers who act as advisers to registered funds and private funds in private corporate credit are registered investment advisers (RIAs). In addition to managing public and/or registered funds, many RIAs are public companies and are subject to reporting and filing requirements. Most managers manage multiple vehicles and fund types (i.e., registered and private) and therefore have prudent, rigorous processes across their platform and firm aligned with regulatory requirements. Tracking performance records for firms and managers is critical for manager growth and future fundraising.