Our approach to private corporate debt
With capabilities in Western Europe, including the UK, we focus on corporate debt from issuers that may be too small to access capital markets or those that prefer club deals with a few institutional investors. Opportunities are sourced across a diverse investment universe including investment-grade or crossover small and mid-cap firms from a variety of sectors, with maturities ranging between five and 10 years, typically for buy-and-hold investments.
Our investment philosophy is focused on managing the downside, given the asymmetric risk profile of debt investing. As such, we lend against core, essential assets with asset security. We place high value on financial covenants, and avoid highly subordinated debt positions. We take the view persistent excess returns come via excellent deal sourcing, not extra risk. We therefore avoid the higher risk parts of the credit spectrum and instead focus on sourcing attractive deals the broader market may not see. We also embrace newer sectors and structures that may offer ‘complexity’ or ‘novelty’ premia. The strength and depth of our credit research team provides robust governance and our disciplined investment process incorporates, but is not bound by, environmental, social and governance criteria throughout the life of the asset.
Benefits of private corporate debt
Senior private corporate debt can help investors diversify exposures while delivering attractive risk-adjusted returns.
Key risks of private corporate debt
Explore our real assets range
Outcome-oriented solutions in real estate, across equity debt and long income, through strategies that span the risk spectrum, from lower-risk options generating long-term income to more opportunistic investments.
Our deep market access allows us to source high-quality projects, delivered through a range of debt and equity opportunities. We focus on stable, long-term income generation and efficient execution.
We finance bespoke structured finance and senior private corporate debt transactions, seeking to meet a range of client outcomes.
Real assets multi-asset
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.
Real Assets Study 2024
Demand remains strong, but the investment drivers are changing. At a time of macroeconomic uncertainty, real assets continue to play a significant role in the investment strategies of global institutions. The sixth edition of the Aviva Investors Real Assets Study is our biggest yet and seeks to answer some key questions.