Alcentra’s Multi-Strategy solutions offer investors access to our US and European investment strategies on an integrated basis. These tactical, outcome-focused solutions seek to deliver, in one vehicle, holistic exposure to liquid and semi-liquid investments such as Senior Loans, High Yield Bonds, Special Situations, and Structured Credit, and in certain circumstances, Liquid Investments, including Middle-Market Direct Lending.
“One stop shop” for satisfying an investor’s desire for exposure to the many sub sectors of corporate credit
Managed solution which aims to allocate to the best risk-adjusted return opportunities at any time, eliminating the need for the investor to develop the detailed knowledge required to allocate between the various sub sectors themselves
The opportunity to respond quickly to higher yielding opportunities as they present themselves, without the need to review and approve specialist strategies or managers at the time
Leveraging an Asset Allocation Committee, the lead Portfolio Managers establish the initial and ongoing strategy allocations seeking to exploit the most attractive and timely opportunities in our markets in search of income, capital appreciation, or both.
Allocations are based on our forward-looking determinants of relative value across global markets, assessment of liquidity premia, and the identification of major risks. Risk is managed top-down through the strategy allocation process and bottom-up at the individual position level across all strategies in order to meet investment objectives in varying market scenarios.
Alcentra believes that responsibly managed companies are better placed to achieve a sustainable competitive advantage and provide strong long-term growth. As a result, our commitment to implement the six Principles for Responsible Investment and the analysis of E, S and G factors form a part of our standard investment process, which can be further reviewed in our Responsible Investment Policy.
Alcentra’s timeline to responsible investing
The Alcentra Multi-Credit Strategy is led by Chris Barris, Kevin Cronk and Ross Curran each co-managing the Global Multi Credit Solution supported by the Asset Allocation Committee. The team also has access to a deep bench of corporate credit investment professionals and sector-focused research analysts with all senior team members employing a hands-on diligence approach and involvement in all aspects of the investment process.
Thomas Gahan is Chairman and Chief Investment Officer of Benefit Street Partners and is head of alternatives for Franklin Templeton.
Managing Director,
New York, United States
Industry since: 1994
Managing Director,
New York, United States
Industry since: 1996
Managing Director,
New York, United States
Industry since: 2006
*Diversification does not ensure against loss.
Important Information
This material is intended to be of general interest only and should not be construed as individual investment advice or a recommendation or solicitation to buy, sell or hold any security or to adopt any investment strategy. It does not constitute legal or tax advice. The views expressed are those of the investment manager and the comments, opinions and analyses may change without notice. The information provided in this material is not intended as a complete analysis of every material fact regarding any country, region or market.
What are the risks?
All investments involve risk, including possible loss of principal. There is no guarantee that a strategy will meet its objective.
Direct Lending and investments in other debt instruments entail normal credit risks (i.e., the risk of non-payment of interest and principal) and market risks (i.e., the risk that certain market factors will cause the value of the instrument to decline). When originating a loan, a lender expects to rely significantly upon representations made by the borrower. There can be no assurance that such representations are accurate or complete, and any misrepresentation or omission may adversely affect the valuation of the collateral underlying the loan, or may adversely affect the ability of the lender to perfect or foreclose on a lien on the collateral securing the loan, or may result in liability of the lender to a subsequent purchaser of the loan. Finally, under certain circumstances, payments to the lender may be reclaimed if any such payment or distribution is later determined to have been a fraudulent conveyance or a preferential payment.
Bank loans may become nonperforming or impaired for a variety of reasons. Nonperforming or impaired loans may require substantial workout negotiations or restructuring that may entail, among other things, a substantial reduction in the interest rate and/or a substantial write-down of the principal of the loan. In addition, certain bank loans are highly customized and, thus, may not be purchased or sold as easily as publicly traded securities, any secondary trading market also may be limited and there can be no assurance that an adequate degree of liquidity will be maintained. The transferability of certain bank loans may be restricted. Risks associated with bank loans include the fact that prepayments may generally occur at any time without premium or penalty. Investors should carefully consider the risks involved before deciding to invest.
Liquidity risk exists when securities or other investments become more difficult to sell, or are unable to be sold, at the price at which they have been valued. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance.
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