Investment Management

Private Credit Investment Grade

Portfolio Managers

Chris Lyons, CFA Photo

Chris Lyons, CFA

Managing Director and Group Head, Private Credit

Virginia L. O'Kelley, CFA Photo

Virginia L. O'Kelley, CFA

Vice President, Portfolio Manager, Private Credit

Greg R. Addicks, CFA Photo

Greg R. Addicks, CFA

Senior Vice President and Team Leader, Private High Yield

Summary

Takes advantage of privately negotiated covenant structures, investing in fixed-rate corporate debt sold to investors and exempt from SEC registration

Philosophy

We believe the inherent advantages of private credits are magnified by strict adherence to fundamental credit principles and appropriately structured covenants.

Objective

To outperform the Bloomberg Barclays U.S. Corporate Duration-Adjusted Index by 1.0% annually over a full credit cycle

Competitive Advantage

  • Experienced, stable Private Credit team with established track record of success
  • Unique integration of skillsets across analysts, lawyers, and workout team
  • Advantaged deal sourcing covering 95% of Private Credit issuance
  • Historical up-front yield advantage vs. publicly traded securities; prepayment and amendment fees add incremental yield
  • Intense upfront underwriting process, strict adherence to structural protection protocols and highly effective portfolio monitoring and management process
  • Can deliver flexible solutions according to client needs

*There is no guarantee that this objective will be achieved.

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