Fixed Income Credit Investments Group
With substantial scale, an extensive network, and experienced local teams in New York and London, CIG is one of the largest non-investment-grade credit managers in the US and Western Europe. The full-service group of dedicated credit professionals offers a broad suite of solutions across the risk/return spectrum to meet a variety of client needs from capital preservation to systematic income and alpha generation.
Senior Secured Loans
A core competency of CIG is in the long-standing, established management of senior secured loans. The team’s senior investment managers leverage significant experience of investing in performing credit strategies and three members of the investment committee have managed portfolios together for 19 years. The team offers global, dollar- and euro-focused capabilities with an overriding emphasis on preservation of capital to provide diverse investment options for clients globally. Within the investment process framework, bottom-up analysis drives the selection of individual investments and a high level of diversity, with strict quality, issuer, and industry concentration criteria.
Collateralized Loan Obligations
CIG is the largest US manager of CLOs1. Complementing its core competency in senior secured loans, CIG has also had a long history of investing in structured credit. Since 1998, CIG has invested in structured credit bonds, with a focus on tranches of third-party-managed CLOs. The strategy seeks to identify relative value across tranches depending on the investment guidelines and risk profile of the account by leveraging its long-standing expertise in evaluating the underlying performing and non-performing assets of each CLO, in structuring and documentation reviews, in manager due diligence, and its deep relationships in the capital markets. CIG’s structured credit team is fully integrated into the broader credit platform, which allows for the seamless combination of bottom-up credit insights and top-down structuring expertise.