High yield
Solutions spanning U.S., European, global, opportunistic and higher-quality credit, seeking to provide enhanced income and capital preservation across below-investment-grade markets.
Public Fixed Income
Leveraged Finance
Across high yield, bank loans, collateralized loan obligations (CLOs) and multi-asset credit, our leveraged finance platform pursues income and capital preservation through disciplined, cycle-tested credit selection across the capital structure.
AUM 1
$31.3B
LEVERAGED FINANCE
A globally integrated leveraged finance platform, built on independent credit research and tested across every market cycle.
One of the most comprehensive leveraged finance platforms—spanning the full below-investment-grade spectrum across geographies, structures and market environments. Our approach is rooted in independent research and security-level underwriting, building conviction from the ground up and actively managing positions across every credit cycle.
Investment philosophy
We are value-oriented credit investors who seek to capitalize on market inefficiencies by independently and proactively assessing risk at the issuer and security level. Rigorous proprietary research drives our identification of relative-value opportunities, and our counter-cyclical discipline enables us to act decisively when markets dislocate to capitalize on periods of volatility.
Disciplined process focused on credit selection and monitoring
Our investment approach combines top-down views with deep, bottom-up credit analysis spanning the below-investment-grade universe, credit cycles and all geographies in which we invest.
- Well-established research that independently and proactively assesses credit risk, default risk, fundamentals and market valuations at each point of the capital structure
- Rigorous risk management focused on both upside and downside risks
- Monitoring of issuer-specific fundamentals for early signs of change
Our actively managed solutions
Bank loans
Senior secured, floating-rate loan strategies seeking current high income and lower default rates across U.S., European, global, opportunistic and higher-quality markets.
Collateralized loan obligations (CLOs)
U.S. and European securitized vehicles backed by diversified pools of senior secured bank loans, offered in tranched debt and equity securities for investors seeking structured credit exposure.
Multi-asset credit
Diversified strategies that invest opportunistically across the below-investment-grade universe, aiming to deliver attractive risk-adjusted return potential.