GLG US Collateralised Loan Obligations

  • The team has a long history of working together across various credit cycles and share a unified desire to become a market leader. This has resulted in a cohesiveness that is crucial in market cycles
  • Boutique size allows the team to be highly selective in acquiring assets seeking to maintain credit discipline in virtually any market
  • Proactive credit discipline and a conservative credit culture
  • The team seeks to reduce credit risk through ongoing evaluation of portfolio exposure at each step of its investment process
  • Credit analytics, portfolio management, CLO guideline compliance and daily cash & position reconciliations are integrated into one proprietary Portfolio Management system - a powerful tool for portfolio managers, analysts and middle office

Approach

The team seeks to reduce credit risk through an ongoing evaluation of portfolio exposure at each step of the process:

Deal Review

  • Initial deal screening based on targets such as minimum tranche size and EBITDA
  • Focus is on asset coverage, free cash flow, defendable market position and quality of management
  • Deal details and diligence are integrated into our systems

Investment Memo/Due Diligence

  • The due diligence process culminates in an investment memo handed out to the entire analyst team prior to the credit committee meeting. It provides in-depth business, structural and portfolio analysis

Financial Model

  • Prepared based on our proprietary research and open source data

Credit Meeting

  • A meeting to consider the opportunity based on the internally developed intelligence, identify red flags and formulate a trading and risk management plan

Credit Monitoring Process

  • Layers of predefined daily, weekly, quarterly and ongoing monitoring and analysis

Our proprietary Credit Portfolio Management System integrates credit analytics with active portfolio management and compliance in a single application. This allows our portfolio managers and analysts to work together more efficiently.

Approach Alternative
Asset Class Credit
Geographic Focus US

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