Focus

We focus on applying the traditional value investing discipline across the capital structure.

Asset Class Focus

Our core business is to apply our companies’ knowledge base to three asset classes to express our fundamental view on a business. The three asset classes that we invest in are:

• Corporate bonds: instruments ranked second in priority after bank debt; trade at a discount to par value; and represent a compelling risk reward in an improving economic environment
• Leveraged loans: senior secured debt instruments; trade at a discount to par and recovery value; and represent the best risk reward investment in declining credit environment
• Equity securities: lower part of the capital structure and are compelling investment in a robust economic environment

Industry Focus

The fund focuses on 5 industries in which its partners have invested successfully in the past, giving the fund a sustained competitive advantage. The fund will also invest in "special situations" where the risk reward represents a compelling value and where we have developed an "edge" (legal, covenants, etc.)

• Industrial
• Materials
• Energy
• Media and telecom
• Retail and consumer
• Special Situation