Our approach

Working in partnership with clients, we structure bespoke deals across a variety of asset classes to deliver required outcomes. These include risk mitigation and tailored structuring for needs such as matching-adjustment eligibility. Deals may include CLOs, aviation, trade finance, swap repacks, guaranteed loans and other structured assets in a broad range of credit ratings and tenors, through GBP, EUR and USD-denominated transactions.

The strength and depth of our independent credit research team is leveraged to provide robust governance and we follow a disciplined investment process that incorporates environmental, social and governance (ESG) criteria. Many trades enable us to use underlying assets as collateral (e.g. aircraft or real estate) for greater security against the transaction risks. Our expertise includes actuarial and derivative pricing with strong risk controls for pension and insurance clients.

Benefits

Clarity for investors seeking long-dated cash flows.

Bespoke structuring

Specially-adapted structures can help investments meet defined cash-flow and eligibility criteria.

Risk mitigation

Strong risk controls in place for pension and insurance clients, and we frequently use underlying assets as collateral, helping to improve recovery rates in the event of default.

Diversification

Historic performance shows diversification benefits versus liquid market opportunities.

Illiquidity premium

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

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.

Illiquidity risk

Certain assets held in the fund could, by nature, be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile.

Market risk

Changing market dynamics may undermine the relative attractiveness of structured transactions.

Complexity risk

Assessing risk implications of multi-layered transactions is challenging.

Explore all funds

Access key fund documentation and performance reports.

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Need more information?

For further information, please contact our investment sales team.

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