Invest with us
We invest in private asset-based credit across both traditional and specialty finance verticals. For over a decade, our focus has been delivering outstanding risk-adjusted returns in US specialized lending.
Our approach
We are active managers with global expertise in private credit investing. We have a differentiated strategy focused on asset-based lending and specialty finance opportunities in US credit markets that are less correlated to traditional market movements and often self-liquidating. We focus on bespoke opportunities with strong fundamentals that have the potential to deliver investors resilient, excess returns relative to risk.
We have adopted a rigorous, five-phase investment process governed by a dual-structured Investment Committee.
- Investment origination and preliminary due diligence including weekly pipeline meetings
- Portfolio Manager sanction of deals
- Investment Committee early read, followed by an alternate and contrarian perspective from the ‘Red Team’
- Final due diligence and structuring
- Investment Committee approval from Group Credit and Asset Management Credit.
Our investment strategies benefit from access to the firm’s Global Credit Solutions platform, including extensive experience in workouts and capital structure advisory, maximizing capital preservation for investors through cycles.
Our conviction runs deep and as a testament to this we co-invest in many of our strategies alongside our clients, aligning our interests with theirs. Reflecting this philosophy, the firm and our staff have co-invested over US$110 million into our private credit strategies.
Our investment profile
We focus on asset-based lending and specialty finance. This means financing diversified portfolios of loans, assets, or receivables.
We invest in portfolios of both traditional and specialty loans. The underlying loan portfolios are highly diversified, with thousands of underlying assets forming part of the security pool. Our loan structures typically benefit from additional features that provide further capital protection to the private credit lender.
Wholesale funding for loan portfolios with secured, asset-based or defensive characteristics. Includes asset and equipment finance, auto finance, consumer loans, small balance commercial loans and portfolios of corporate loans.
Bespoke lending solutions for non-traditional assets where banks and traditional finance markets are unable to provide an efficient solution. Includes receivables finance, supply chain finance, government-linked receivables, litigation related funding, insurance related funding and other types of specialized commercial and asset-based finance with bespoke features.
Origination edge
We form direct proprietary partnerships with finance companies operating in lending verticals where banks are either not competitive or not the efficient providers of capital. We are differentiated by the depth of our origination opportunities, and we underwrite our own deal flow. We apply a unique and rigorous Investment Committee process to ensure each deal is examined holistically, with independent review by our Red Team Challenge.
The Red Team Challenge is a unique part of our investment due diligence process. We select members of the Investment Team who are not associated with underwriting that specific opportunity to form a ‘Red Team’. Their role is to provide an independent, contrarian perspective on any potential risks related to that particular investment.
Through this holistic review process, the investment is analyzed in detail through multiple lenses to ensure final Investment Committee evaluation can be made on a fully informed basis.
We can invest in these loan portfolios in a variety of ways. This includes both senior and mezzanine lending, asset-based facilities, structured debt facilities or direct loan and lease purchases.
Key characteristics of our investments
Facilities benefit from robust security and collateral features which provide downside protection
Loans are secured by many – tens, hundreds or thousands – of underlying assets
Facilities are fully covenanted and tightly controlled with debt terms. No ‘covenant lite’ dynamics
We directly source, negotiate and structure our loans – we do no buy securities in a screen
Facilities typically have cash flow amortising profiles, rather than large ‘bullet’ repayments
Lenders receive very detailed monthly reporting in a form prescribed by us
Potential to create portfolios with uncorrelated features that perform consistently through various market conditions. We are a priority creditor, whereas equity is sized to take the volatility
Get in touch by sending us a message or contact us at one of our offices.
