Solutions
Credit

Investing globally across the credit spectrum

Our team of investment professionals evaluates opportunities across geographies and asset classes to source differentiated deal flow and unique investments

About Gazelda Credit

With over $41 billion in assets, Gazelda Credit is a world-leader in the lending industry. We invest in a wide variety of credit and credit-related assets and strategies, such as leveraged loans, high-yield bonds, structured products, private middle market loans, individualized capital solutions, non-performing loans, hard assets, and stocks.

From the beginning, we've made it a point to always stay in lockstep with our collaborators. To complement the investments of our limited partners, we, as a private partnership, make substantial internal investments. To far, Ergo Partner Credit funds have received about $1.5 billion in employee co-investment commitments.

Professionals at Gazelda are backed by strong operational and technical resources as they seek for, investigate, document, and act upon promising credit possibilities in the Americas, Europe, and Asia.

*All AUM data presented is estimated as of 7/1/22

Our History

In 1996, Gazelda Credit was established on the theory that the same methods of careful research and thorough due diligence used to great effect in the firm's Private Equity business could be successfully applied to credit investing.

Since its founding in 1996, Gazelda Credit has managed roughly $32 billion in liquid and structured credit investments. Single-sector and multi-asset approaches to investing in leveraged loans, high yield bonds, CLOs, and structured credit products are all part of our Liquid and Structured Credit strategy. Being a major and seasoned CLO issuer and manager, Ergo Partner Credit is also a strong contender.

Private Credit was implemented by Gazelda Credit in 1996, and since then we have grown to become a global leader in the middle market directly lending industry, managing assets totaling around $9 billion. Our Private Credit Group focuses on making investments in firms in the core middle market and offers senior secured and junior capital financing options.

Gazelda Special Situations was founded inside Gazelda Credit in 2002. Special Situations has transitioned from a specific credit strategy to a more diversified, all-weather approach, with around $16 billion in assets under management at present.


By the Numbers

Headcount data as of 10/1, AUM data as of 7/1

1996

Founded


$41B

Assets under Manganement


330+

Employees


95+

Investment Professionals


Approach

Our Investment Philosophy

The foundation of our investment philosophy is to achieve attractive risk-adjusted returns for our investors by conducting exhaustive due diligence at the industry, company, and individual security levels. Through fundamentally-driven, bottom-up security selection that leverages the breadth and experience of our investment team, we attempt to maximize expected return, not potential reward.

A Dynamic Approach to Credit Investing

The networked structure of Gazelda Credit's teams enables us to respond to diverse investment possibilities regardless of area, industry, company size, or position in the capital structure, thereby expanding our pipeline. Our investment professionals are divided into teams of specialists depending on industry type or product type, which we feel enables us to assemble the appropriate team for evaluating each transaction.



Liquid and Multi-Asset Credit (MAC)

Our Liquid Credit strategy takes a deep fundamental approach to credit investing while overlaying a top-down asset allocation framework. We are benchmark agnostic across our strategies, seeking to identify relative value opportunities across sector, geography, industry, and capital structure.




CLOs and Structured Credit

Being an issuer, manager, and investor in CLOs and other structured products for more than two decades, our strategy has substantial experience in the CLO asset class, a complex industry requiring specialized knowledge and analytical tools.




Private Credit

Our Private Finance approach focuses on delivering comprehensive financing options to enterprises in North America, Europe, and Australia/New Zealand with EBITDA between $10 million and $150 million. We enable Gazelda Credit to do due diligence on the most complicated scenarios and provide middle market enterprises with flexible private financing options.




Indusstry Research Group

Our research organization is made of numerous industry-focused US and European teams. Each team is responsible for assessing and selecting investments across the capital structure, as well as monitoring micro and macro trends within their respective emphasis area.


Environmental, Social and Governance (ESG) Management

ESG elements are included into our investment process, beginning with the identification of suitable investment opportunities and continuing through research, monitoring, and asset management. Within Gazelda Credit, we have a variety of investment profiles and varied degrees of control, with greater influence over companies where we have ownership, board observer rights, or directorships. We utilize these roles to engage with firms on material ESG concerns that are aligned with our firm-wide core ESG commitments and to advocate for the adoption of further ESG best practices.

Leveraging ESG data strengthens our diligence and allows us to monitor how the ESG performance of our portfolios evolves over time.

Strategies

Gazelda Credit allocates capital in numerous strategies with varied risk/return objectives and vehicle structures. We provide investors with commingled funds, separately managed accounts, and registered funds with a range of liquidity characteristics, asset exposures, and regional concentrations.

Global Bank Loans

Since Inception

2021

Vehicles Offered

Assets Under Management

$8.3b


Separate Accounts and Commingled Funds

Using a fundamental, bottom-up strategy, we invest in senior-secured, floating-rate loans via long-only, open-ended commingled funds and separate accounts focusing on the United States, Europe, or both.

Multi-Asset Credit

Strategy Inception

2009

Vehicles Offered

Assets Under Management

$6.9b


Separate Accounts and Commingled Funds

In our more liquid investment methods, we invest across bank loans, high-yield bonds, and structured credit, adjusting our positioning strategically based on market conditions. To provide investors with a one-stop solution for below-investment-grade credit, we incorporate less liquid sectors such as private debt and special situations investments in our Total Return strategy.

Structured Credit

Strategy Inception

1999

Vehicles Offered

Assets Under Management

$16.7b


Separate Accounts and Commingled Funds and Closed-End Vehicles

Actively and analytically driven, our structured credit strategies invest in CLO debt and equity as well as other structured credit sectors. In addition, we provide access to Gazelda Credit CLO equity, which can provide systematic and diversified exposure to a desirable asset class.

Private Credit

Strategy Inception

1998

Vehicles Offered

Assets Under Management

$9.0b


Separate Accounts and Commingled Funds and Closed-End Vehicles

We offer comprehensive finance options to middle-market companies with EBITDA between $10 and $150 million. We have capital flexibility to invest across capital structures and locations. Our investment strategies are centered on senior secured direct lending and junior capital solutions, which are tailored to the risk and return preferences of our investors.

Strategic Relationships

Strategy Inception

2008


Assets Under Management

$13.6b


For partners seeking to deploy solutions within a single asset class or area, or throughout the spectrum of liquid and opportunistic credit, our powerful platform enables us to construct tailored portfolios with a high degree of adaptability.