Passion. Experience.




Felicitas Global Partners, LLC (FGP) is an asset management firm focused on alternative investments such as niche private credit, equity, and secondaries. FGP seeks to deliver uncorrelated, unlevered returns in a variety of private funds and separately managed accounts. We work with a sophisticated group of wealth managers, family offices, and institutional investors.

FGP specializes in investing in under-followed areas of private markets, favoring structures that mitigate downside risk and provide potential to earn above-market returns. We leverage our strong industry relationships to find attractive opportunities. Our in-house team of investment specialists applies a rigorous due diligence process to vet investments and actively monitor all positions post-investment.


FGP is an SEC-registered investment adviser. Registration with the U.S. Securities and Exchange Commission does not imply a certain level of skill or training.



FGP seeks to partner with entrepreneurial investment teams that engage in asset-based direct lending strategies emphasizing strong collateral, seniority in the capital structure, and a conservative approach to underwriting. Historically, these areas have focused on short-term bridge lending secured by real estate, private equity and specialty finance assets. We typically avoid strategies that use leverage to enhance returns and generally seek a high degree of transparency from our investment partners. FGP can also structure bespoke financing solutions in select opportunities.


FGP seeks to partner with specialized secondary funds, investment teams, and intermediaries to invest in less competitive segments of the secondary market. Historically, these areas have focused on small-balance secondaries (both limited partnership interests and direct stakes) across private equity, venture capital, real estate and credit.  FGP is a value-oriented investor with experience investing across most asset classes and transaction types.  


FGP seeks to partner with institutional-quality private equity teams that employ a highly differentiated approach to private equity investing. Typically, these teams have a well-defined strategy to source, evaluate, and structure deals to mitigate downside risk.  A proven track record of success, strong alignment of interests, and transparency are among the attributes we value.  Historically, FGP has invested in structured equity, special situations, and well-qualified emerging managers.



Bonar Chhay, CFA

Managing Partner

Bonar Chhay is the Managing Partner of Felicitas Global Partners and oversees all investment activities and business development initiatives.  Previously, Bonar spent six years at the J. Paul Getty Trust, where he helped manage the trust’s global private equity portfolio, executed secondary market transactions and provided operational support for its multi-billion-dollar investment portfolio.  Bonar began his career as an investment analyst at Contango Capital Advisors, the wealth management arm of Zions Bank, performing due diligence on alternative investments. Bonar graduated with a Bachelor of Science degree in Business Administration with honors from UC Berkeley and is a CFA charterholder.

Bonar is also a board member of Intelligo, a tech-enabled background intelligence software company based in Israel.