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Private Credit Investment Grade
Chris Lyons, CFA
Managing Director and Group Head, Private Credit
Paul Aronson, CFA
Team Lead, Private Credit Investment Grade
Greg R. Addicks, CFA
Senior Vice President and Team Leader, Private High Yield
SummaryTakes advantage of privately negotiated covenant structures, investing in fixed-rate corporate debt sold to investors and exempt from SEC registration.
PhilosophyWe believe the inherent advantages of private credits are magnified by strict adherence to fundamental credit principles and appropriately structured covenants.
ObjectiveTo outperform the Bloomberg Barclays U.S. Corporate Duration-Adjusted Index by 1.0% annually over a full credit cycle.
- An industry leader with demonstrated strong performance in all market conditions and over $16 billion (as of 09/30/15) in assets under management
- Highly experienced team with average investment background of 17 years; 78% of team members are CFA, CPA or JD holders
- 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.