Investment Philosophy

We believe attractive, long-term, risk-adjusted returns can best be achieved through a combination of:

• Strong fundamental credit underwriting, with the primary focus on principal preservation
• Active portfolio management to capture the best relative value and identify opportunities for capital appreciation

Our Value Add

One of the industry’s largest global high yield teams

• 69 dedicated high yield investment professionals allow our team to analyze more opportunities
• Experienced in-house investment professionals in both U.S. and European markets
• Long-term track records in managing both U.S. and European credit
• Portfolio managers and analysts provide an on-the-ground, rigorous approach to managing credit by conducting company visits and regularly participating on management calls

In-depth, bottom-up credit analysis provides unparalleled coverage up and down the capital structure, across industries and geographies

• Integrated loan and bond high yield research and portfolio management
• On-the-ground resources provide local access and insight into the markets where we are investing
• Active portfolio management capturing our best ideas while managing risk and optimizing relative value