Our approach

A tailored approach allows us to closely match investors’ objectives – from infrastructure and real estate, to bespoke structured finance deals and bilateral or club deals for corporate debt.

We have a clear focus on risk management, with strong risk controls through the use of assets as collateral and senior-debt exclusivity on private corporate debt. Our independent credit research team ensures robust governance and our investment process is disciplined and rigorous.

Benefits

Diversification

Historic performance shows diversification benefits versus liquid market opportunities.

Illiquidity premium

The illiquid nature of the assets typically commands a premium over comparable listed credit.

A tailored approach

Sourcing bespoke deals allows us to deliver against a range of specific investment objectives.

Key risks

Investment risk

The value of an investment and any income from it can go down as well as up. Investors may not get back the original amount invested.

Illiquid assets risk

Where funds are invested in illiquid private assets, investors may not be able to redeem any units in the fund when they want because illiquid private assets may not always be readily saleable. If this is the case, we may defer a request to redeem units.

Strategies in focus

Structured finance

Bespoke deals including CLOs, aviation, trade finance, swap repacks and other structured assets with strong risk controls . These can help investors structure cash flows for needs such as matching-adjustment eligibility.

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Private corporate debt

Exclusively senior private placements and bilateral loans, with strong covenants across a variety of profiles and maturities help improve overall risk-adjusted returns.

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Real estate debt

Senior secured debt of varying maturities, fixed or floating rate, on commercial property such as offices, retail, or logistics. Clients benefit from regular cash flows and the added security of high-quality collateral.

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Infrastructure debt

Senior debt invested in long-term, stable infrastructure assets across a wide range of sectors. Ideal for investors looking for cashflows with an attractive risk/return profile, and to capture the illiquidity premia.

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Need more information?

For further information, please contact our investment sales team.

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Real assets in focus

  • The case for private debt

    8 Oct 2020

    Private debt proved its worth to institutional investors during a sustained period of benign market conditions. But what does the outlook look like in an altogether more challenging environment?

  • Fibre broadband: The need for speed

    9 Sep 2020

    Lockdown measures imposed during the COVID-19 pandemic have highlighted the importance of digital connectivity. Tim Perry looks at the investment opportunities and challenges associated with European economies transitioning from copper to faster fibre broadband networks.

  • Defined Benefit pensions de-risking: A covenant and investment view

    23 Jun 2020

    In the midst of the COVID-19 shock, Felix Mantz from Lincoln Pensions and Joachim Sudre from Aviva Investors explore how defined benefit pension schemes should plan their journey towards an end game and adopt a more holistic approach to risk.

  • 'Mastering the real estate cycle'

    17 Apr 2020

    The cyclicality of real estate creates opportunities for well-informed investors. However, determining where a market is in the cycle can be difficult, so we have developed a tool that can help investors overcome this challenge.

  • Unlevered Infrastructure Equity: Delivering in CDI

    6 Feb 2021

    Cashflow-driven investing (CDI) generates predictable, attractive cash flows to meet liabilities when they fall due.

  • Urban regeneration: How a secure income strategy can help revive city centres

    6 Jan 2020

    Like other major cities, London scores highly across a range of economic metrics. But while London’s continued capacity for renewal and attracting investment is undeniably impressive, it is often in stark contrast to other UK cities. Chris Urwin, Luke Layfield and Stanley Kwong explain what can be done to make those cities more attractive, and the respective roles investors and the public sector should play in that process.

Private debt team

  • Munawer Shafi

    Head of Structured Finance & Private Debt

  • Darryl Murphy

    Managing Director, Infrastructure

  • Gregor Bamert

    Head of Real Estate Debt

  • James Tarry

    Senior Portfolio Manager, Alternative Income

    • Explore our real assets range

    Real estate

    Outcome-oriented solutions in real estate, through strategies that span the risk spectrum, from lower-risk options generating long-term income to more opportunistic investments.

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    Infrastructure

    Our deep market access allows us to source high-quality projects, delivered through a range of senior debt opportunities or via the acquisition of assets. We focus on stable, long-term income generation and efficient execution.

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    Private debt

    We finance bespoke structured finance and senior private corporate debt transactions, providing our investors with outcomes that meet their investment objectives.

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    Outcome focused

    Our integrated real asset platform allows us to collaborate with our clients to design bespoke multi-asset portfolios that meet a wide variety of long-term investment and return objectives.

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    Sustainable real assets in the spotlight

    Just when we thought things were returning to normal after the social, economic and market upheaval caused by the pandemic, the events of 2022 presented new challenges for investors. It was in that context in late 2022 that we took the pulse of key investment decision makers at 500 institutional investors representing a combined $3.5 trillion of assets on their appetite for real assets, including those with a sustainable focus. Read the results in our Real Assets Study 2023.

     

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