Who we are
Dedicated private credit professionals with extensive experience and specialized expertise.
Source: J.P. Morgan Asset Management; as of September 30, 2024.
Our strategic framework
Diversifying portfolios and capturing opportunities across the credit spectrum
Seek to generate consistent income from high-quality assets with low volatility
Characteristics:
- Low volatility
- Capital preservation
- Higher income
Examples:
- Senior direct lending
- Senior commercial real estate lending
- Senior real asset lending
- Senior residential real estate lending
Seek to increase total returns and portfolio diversification
Characteristics:
- Asset class diversification
- Moderate return enhancement potential
- Manage downside risk
Examples:
- Direct lending mezzanine
- Commercial real estate mezzanine
- Private credit secondaries
- Multisector
- Real asset mezzanine
- Levered lending
Seek to generate high total returns focusing on distressed, niche or opportunistic lending
Characteristics:
- Specialized markets
- High total return potential
- Risk management
Examples:
- Specialty finance
- Esoteric credit
- Distressed lending
- Special situations
- Market inefficiencies
Our capabilities
Broad array of private credit solutions for clients seeking diversification, income, return and/or capital preservation.
Special situations
- Target corporate credit opportunities arising from pool market factors and company-specific financing needs
- Invest opportunistically across capital structure, with focus on public and private middle-market companies in Europe and the U.S.
Specialized opportunities
- Capitalize on dislocations in public middle market
- Combine relative value trading experience with long-term directional income and special situation investments
Real estate mezzanine debt
- Pursue disciplined current income by originating a mix of fixed- and floating-rate mezzanine and senior loans
- Target underlying properties of high-quality, core assets located in major U.S. markets and owned by institutional sponsorship
Private credit secondaries
- Buy seasoned assets at yields exceeding target returns given supply/demand imbalances
- Diversify broadly by investment type, sub-strategy, geography and loan source
Multi-manager direct lending
- Opportunity to invest across the spectrum of private credit strategies including dedicated direct lending through a customizable mandate
- Target attractive balance of yield and capital preservation
Commercial mortgage loans
- Invest in diversified bucket of first lien commercial mortgage loans backed by high-quality real estate and strong borrowers
- Flexibility across coupon structure, loan term, capital structure and sector, depending on investor guidelines
Private Credit
Private credit securities may be illiquid, present significant risks, and may be sold or redeemed at more or less than the original amount invested. There may be a heightened risk that private credit issuers and counterparties will not make payments on securities, repurchase agreements or other investments held by the strategy. Such defaults could result in losses to the strategy. In addition, the credit quality of securities held by the strategy may be lowered if an issuer’s financial condition changes. Lower credit quality may lead to greater volatility in the price of a security and in shares of the strategy. Lower credit quality also may affect liquidity and make it difficult for the strategy to sell the security. Private credit securities may be rated in the lowest investment grade category or not rated. Such securities are considered to have speculative characteristics similar to high yield securities, and issuers of such securities are more vulnerable to changes in economic conditions than issuers of higher-grade securities.