Our approach as private debt investors
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 controls through the use of assets as collateral, financial covenants and, where appropriate, seniority within the capital structure. Our independent credit research team ensures robust governance and our investment process is disciplined and rigorous.
Potential benefits
Conviction in scale
Our scale gives us a commercially competitive advantage and access to a wide range of transactions. The ability to source bespoke deals across investment-grade and sub-investment-grade investments allows us to deliver against a range of client investment objectives.
Multi-asset mindset
We collaborate and think as one real assets business, allowing us to capture optimal relative value for our clients throughout market cycles. We believe the ability to leverage skills and insights across capabilities drives superior investment decisions.
Responsibility built-in
Our ESG framework and in-house team are fully embedded into the investment process, helping us manage risk and identify exciting opportunities, providing access to sustainable assets such as renewables and sustainable real estate loans.*
*ESG integration means the integration of ESG factors and consideration of sustainability risk as part of the investment decision making process. This process is applied beyond any specific binding constraints (in the objective or strategy of the fund as detailed in the prospectus or investment management agreement and in accordance with our Baseline Exclusions Policy). The investment manager retains discretion on decision making taking all risks into account, beyond any binding criteria.
Key risks of private debt
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.
Real Estate Risk
Where funds are invested in real estate/infrastructure, investors may not be able to switch or cash in an investment when they want to because real estate/infrastructure may not always be readily saleable. If this is the case we may defer a request to switch or cash in shares or units. Investors should also bear in mind that the valuation of real estate is generally a matter of valuers’ opinion rather than fact.
Strategies in focus
Need more information?
For further information, please contact our investment sales team.
Private debt team
Munawer Shafi
Head of Structured Finance & Private Debt
Darryl Murphy
Managing Director, Infrastructure
Gregor Bamert
Head of Real Estate Debt
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.
Explore our private markets range
Private markets views
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Real Assets
Seizing the moment: The outlook for real estate debt
24 Sep 2024
Gregor Bamert, Sima Kotecha and Nick Solomon discuss the recovery in real estate debt markets in 2024 and the opportunities emerging.
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Real Assets
Get networking: Will the next decade be a golden age for UK infrastructure?
3 Sep 2024
While there are obstacles to overcome, the coming years could see new opportunities for the UK government and the private sector to work together on infrastructure projects, says Darryl Murphy.
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Real Assets
Real asset stories: Curtain House
8 Aug 2024
In the first instalment of a new series of case studies on our real asset investments, we look at Curtain House, a Victorian warehouse Aviva Investors is converting into a modern, environmentally friendly office building.
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Real Assets
Illiquidity premia in private debt: Q2 2024
6 Aug 2024
In our latest real assets deep dive, our research team explains how our data on illiquidity premia indicates the benefits of a multi-asset approach to private debt investing.
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Real Assets
Relative value in real assets: A spectrum of opportunities
2 Aug 2024
Our real assets research team drills into proprietary data to compare risk and return across sectors.
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Pensions
A new chapter: Time to prepare for the next phase of the real estate cycle
17 Jul 2024
David Hedalen and Jonathan Bayfield from our real assets research team highlight data that shows real estate markets in the UK and Europe may be on the brink of an important shift.
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Responsible Investing
The future of green premia in real estate, part two: Searching for value and resilience
8 Jul 2024
Do energy-efficient buildings have more pricing power, and what could that mean for those investing in the built environment? We bring together the views of leading capital markets researchers, a valuer and an asset manager for the second part of our deep dive into green premia, analysing the investment implications.
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Responsible Investing
Avoid, reduce, remove, align: Finding climate transition investment opportunities in real assets
3 Jul 2024
In this article, Luke Layfield and Zoe Austin explain four key pillars that can help real asset investors align their strategies with the climate transition and uncover opportunities to deliver attractive returns.
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Responsible Investing
The future of green premia in real estate, part one: The view from the ground
27 Jun 2024
Do greener buildings have more pricing power, and if so, how much? We bring together the views of leading capital markets researchers, a valuer and an asset manager for a two-part deep dive on the latest market dynamics.
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Real Assets
Cyclical, structural, vintage: The outlook for real estate equity
10 May 2024
High inflation and rising rates hit activity in real estate markets over the past year. But cautious optimism is now returning to the investment landscape in the UK and Europe, say Imogen Ebbs and George Fraser-Harding.
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Real Assets
Building better: Opportunities for DC schemes to invest in the climate transition through real assets
22 Mar 2024
By investing in climate-aligned real assets, defined-contribution pension schemes can help propel the transition while also benefiting from portfolio diversification and attractive risk-adjusted returns, says Mark Meiklejon.
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Real Assets
Resilience and recovery: The outlook for real estate long income
21 Mar 2024
Renos Booth, Isabel Gossling and Kris McPhail from our real estate long income team consider the outlook for long-lease assets after a challenging period for investors.
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Real Assets
Rents, rates and the refinancing gap: The outlook for real estate debt
19 Mar 2024
After a challenging 12 months for real estate debt investors, Gregor Bamert discusses what lies ahead for the market in 2024.
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Real Assets
Illiquidity premia in private debt: Q4 2023
12 Mar 2024
In our latest real assets deep dive, our research team crunches the data to see how evolving macro conditions are reflected in private debt returns.
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Real Assets
Des res: Opportunities in rental housing for institutional investors
25 Jan 2024
Jonathan Bayfield examines the fundamentals of this asset class, as well as the opportunities and risks for real-estate investors.
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Responsible Investing
Common ground: Earning a social licence to operate in real asset investing
18 Jan 2024
Successful real asset investing requires acceptance of asset managers’ practices and procedures from a variety of stakeholders. We explore what this means for managers, their clients and investment outcomes.