Sophisticated Credit Strategy
We pursue high-quality, cash-flow generating assets that we believe appropriately balance risk and returns.
We believe the breadth and depth of our expertise enables us to capitalize on compelling opportunities and be diligent and agile in our pursuit of superior risk-adjusted returns.
Select Credit Focus Areas
We aim to invest broadly across structured products with a focus on investment solutions that we believe offer attractive yields with appropriate downside protection. We target off-the-run, esoteric assets that may be overlooked or misunderstood due to their complexity or illiquidity.
We seek to achieve downside protection via: (i) structural enhancements (e.g., structural seniority); (ii) margin of safety; (iii) defensive sector selection; and (iv) alignment of interests with sponsors, among other things.
We invest in corporate bonds across a range of industries and capital structures. We seek to leverage our deep understanding of illiquidity and complexity risk to identify undervalued securities that may offer substantial capital preservation.
We invest in residential mortgages across the U.S., primarily targeting borrowers with high FICO scores, properties with low LTVs, and rental properties with sound coverage metrics. We largely focus on attractively priced non-qualified mortgages.
We may invest in taxable and tax-exempt municipal bonds when we believe they offer compelling value relative to corporate bonds. For example, in times of heightened market volatility, we may view municipal bonds as attractive, high-quality opportunities.
Note: There can be no guarantee that any investment vehicle, account of fund will be able to implement its investment strategy or achieve its investment objectives.
Niche Asset Strategy
Learn how we pursue differentiated niche assets that are often difficult to source, structure and manageLearn More