Private Asset-Based Finance
Private asset‑based finance strategy investing primarily in investment‑grade assets across sectors, seeking income and diversification for institutional investors beyond public credit.
$10.0B
$20B+
Invested in private asset-based finance since 2019
20+
Subsector exposures spanning fund finance, consumer, commercial, commercial real estate and residential credit / private RMBS
95%+
Targets investment grade exposure, with 100% of deals externally rated by NRSRO with a private ratings letter
Private asset‑based finance combining scaled sourcing, structured credit expertise and relative value investing across diversified collateral sectors.
Strategy invests in private, predominantly investment‑grade asset‑based opportunities across sectors. Differentiated origination, rigorous underwriting and structuring expertise support diversification, downside protection and attractive income potential.
Our approach to private asset-based financing investing
Scaled sourcing and go-anywhere origination
We source private asset-based investments through direct relationships with originators, issuers and banks. Most transactions are bilateral or small club deals, supporting pricing discipline, strong structures and consistent deal flow.
Disciplined relative value and portfolio construction
The strategy focuses on predominantly investment-grade assets, targeting a spread premium over comparable public corporate credit through a disciplined relative value approach. Investments are selected deal-by-deal across sectors, including fund finance, consumer, commercial, commercial real estate and residential credit / private RMBS.
Rigorous credit underwriting across specialized sectors
Investments are evaluated through a disciplined credit process supported by 40+ sector specialists across MIM’s platform, bringing cross-asset insights to underwriting and portfolio construction. We emphasize collateral quality, structural protection and downside risk mitigation.
Structuring expertise and insurance-aligned approach
We structure transactions to align with institutional objectives, including insurance accounting and capital considerations. Customized structures, tenors and protections enhance resilience, improve cash flow visibility and support control across the investment lifecycle. Strong credit selection and covenants support downside resilience across cycles.