Global Credit

The global financial crisis and subsequent implementation of new regulation have decreased bank lending significantly, especially to small- and medium-sized enterprises (SMEs), and as a result created an attractive opportunity for non-bank lenders to fill the gap.

We aim to deliver attractive risk-adjusted returns by primarily lending capital to sustainable, privately-owned, growth-stage, small- and medium-sized enterprises (SMEs) with strong management teams.

How we Invest

Integration of Sustainability
Sustainability analysis is a critical component in delivering stable, long-term returns in credit and helps us achieve our goals of identifying the highest quality borrowers and maximising capital preservation.
Origination
Our origination process allows both a close level of engagement with businesses and their senior management teams as well as detailed independent due diligence; both are integral to our assessment of high quality lending opportunities. Our process also shapes the delivery of optimal, sustainable capital structures commensurate with borrowers' long-term business plans.
Borrower Focus
Our mandate is global. We focus on the provision of growth capital to SMEs with positive core operating cash flows, and also invest in listed companies and asset based financings. Many of these companies are unable or unwilling to access the banking or wider capital markets and require working capital, capex or acquisition financing debt solutions for growth purposes.
Bespoke Structuring
Our approach is relationship led in order to understand the needs of the business and the profile of its cash flows. The stable, closed-ended capital structure provides the time to tailor a financing package that is appropriate to the borrower's business plan. We have the flexibility to consider different ways in which to achieve our desired returns, ranging from cash interest payment to equity warrants.
Partnership-like Capital
Our partnership approach and committed capital means that lending is made with a view to being repaid at maturity but often includes sufficient flexibility such that the borrower is able to prepay the loan ahead of time based on certain conditions.

Our Team

Cumulatively, we have close to 110 years of investment experience in credit markets and extensive risk management expertise.

Our team is supported by an investment committee led by David Blood, Senior Partner of Generation.