Credit risk sharing will bolster business’ current private credit offerings
15 February 2022
Man Global Private Markets (‘Man GPM’), Man Group’s private markets investment business, today announces that Matthew Moniot and Jonathan Imundo join the firm as Co-Heads of Credit Risk Sharing (‘CRS’), bringing a combined 40 years of experience across alternative asset management and banking. Both are from alternative credit manager Elanus Capital Management (‘Elanus’) and will report to Eric Burl, Head of Man GPM.
Matthew will be responsible for managing Man GPM’s new CRS Strategy and team, including portfolio management and origination. He has deep expertise investing in credit, structured credit and equity markets across multiple market cycles. Matthew founded Elanus in 2010 to execute CRS transactions with European banks and, as one of the first specialised asset managers in the space, has since served as Chief Investment Officer, managing bank, speciality finance and insurance risk sharing transactions. Prior to Elanus, Matthew managed an international financials portfolio at Millennium Management and global financials portfolios at Lehman Brothers and Omega Advisors. He is based in London.
Jonathan will continue to spend a majority of his time on the existing Elanus business, retaining his role as President and Head of Client Solutions at Elanus with primary responsibility for the successful ongoing management and return of capital to existing Elanus investors. In his Man GPM role, Jonathan will be focused on business development, working with Man Group’s sales team and clients on new CRS solutions. Prior to joining Elanus, he spent a decade at Barclays, where in his most recent role as Managing Director, he led the origination and distribution of CRS investments and private credit. Jonathan is based in New York.
Credit risk sharing, whereby investors participate in the credit risk of loan portfolios originated and serviced by sponsor financial institutions including banks and insurance companies, aims to gain exposure to selective credit risks and generate consistent income while preserving capital. The asset class enables investors to access risk-adjusted returns while distributing credit risk across the wider capital markets. The CRS team and Strategy will expand Man GPM’s private credit investment capabilities, in addition to the business’ existing offerings in residential real estate debt and specialty lending. Man GPM has $3.5 billion in AUM including commitments and has deployed more than $7 billion in capital across equity and debt investments since inception1.
Eric Burl, Head of Man GPM, said:
“We look to selectively add new talent and strategies in areas where we think we can add alpha, and we believe Matthew and Jonathan are well suited to deliver differentiated credit solutions for clients. As investors continue to search for yield, we believe that this will be an area that can add income, provide portfolio diversification and serve as a complement to a broader, more liquid credit portfolio.”
Matthew Moniot added:
“Jonathan and I are excited to join the Man GPM team at a time when the credit risk sharing asset class is growing into a significant market where we see continued opportunities that have potential to generate high quality returns. We look forward to leveraging the technology and infrastructure that Man Group provides to expand our established market position in collaboration with Man GPM’s private markets experts.”
1. As of 30 September 2021.