Global corporate credit markets have historically been a rich opportunity set for active management.  Their appeal has until recently been predicated largely on the inefficiencies resulting from the difficulty of assessing and pricing credit risk as well as the structural inefficiencies created by the mixture of business and regulatory dynamics that drive various major investment groups.  More recently, the development of new means of pricing and managing credit risk has opened up new avenues for managing and controlling risks in both security-specific and broader portfolio terms.

We believe that this combination of structural inefficiencies and emerging strategies for managing credit risk offers a powerful opportunity for skilled active managers to create alpha.  Our goal is to exploit these opportunities as efficiently as possible by extracting alpha and mitigating unwanted risks.  We intend to be a leader in credit risk assessment, valuation and market execution.