Loomis Sayles Builds Private Credit Capability
Loomis Sayles, an affiliate of Natixis Investment Managers, has launched a dedicated private credit capability offering yield enhancement and covenant protection.
The capability, which will complement its public fixed income line-up, will be led by Chris Gudmastad, CFA, who joins from Securian Asset Management, where he was head of private credit and responsible for a $6.8 billion investment grade private credit portfolio across more than 20 institutional clients. Myles Reinecke, CFA, joins as senior private credit analyst, also from Securian Asset Management.
Private credit, a growing asset class which is increasingly in demand by institutions globally, will now be a key component of Loomis Sayles’ client-based solutions suite going forward. The Loomis Sayles Private Credit Group’s aim is to deliver portfolios that maximize income and total return through diversified exposure to private fixed income investments, while using deep fundamental analysis and transaction structuring to manage downside risk.
Persistent low yields and increased competition for listed assets have led to a shift towards non-traditional illiquid assets. Private credit is now gaining traction among global investment consultants and institutional investors attracted to the opportunity for yield enhancement, diversification, and covenant protection.
In addition, pending regulatory capital charge changes to high yield securities will likely expand the opportunity set within the private credit market.
“Our value-oriented, deep credit research heritage provides a strong foundation for building out a private credit capability that will complement our public fixed income lineup,” said Kevin Charleston, chief executive of Loomis Sayles. “We are excited to offer clients highly differentiated and competitive private credit solutions by leveraging our research capabilities, operational and technology infrastructure, and comprehensive risk management structure.”
Gudmastad brings extensive experience underwriting and structuring highly complex transactions that generate structure premiums in addition to illiquidity premiums. He reports to David Waldman, Loomis’ chief investment officer.
Both Chris and Myles are based in Minneapolis, Minnesota.
For Further Reading:
LOOMIS SAYLES & COMPANY, L.P.
An affiliate of Natixis Investment Managers. Investment adviser registered with the U.S. Securities and Exchange Commission(IARD No. 105377).
One Financial Center, Boston, MA 02111, USA
www.loomissayles.com
Natixis Investment Managers
Natixis Investment Managers is a subsidiary of Natixis.
Portfolio management company - French Public Limited liability company
RCS Paris n°453 952 681
Registered Office: 43, Avenue Pierre Mendes France – 75013 – Paris.
www.im.natixis.com
This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
Copyright © 2021 Natixis Investment Managers S.A. – All rights reserved
The capability, which will complement its public fixed income line-up, will be led by Chris Gudmastad, CFA, who joins from Securian Asset Management, where he was head of private credit and responsible for a $6.8 billion investment grade private credit portfolio across more than 20 institutional clients. Myles Reinecke, CFA, joins as senior private credit analyst, also from Securian Asset Management.
Private credit, a growing asset class which is increasingly in demand by institutions globally, will now be a key component of Loomis Sayles’ client-based solutions suite going forward. The Loomis Sayles Private Credit Group’s aim is to deliver portfolios that maximize income and total return through diversified exposure to private fixed income investments, while using deep fundamental analysis and transaction structuring to manage downside risk.
Persistent low yields and increased competition for listed assets have led to a shift towards non-traditional illiquid assets. Private credit is now gaining traction among global investment consultants and institutional investors attracted to the opportunity for yield enhancement, diversification, and covenant protection.
In addition, pending regulatory capital charge changes to high yield securities will likely expand the opportunity set within the private credit market.
“Our value-oriented, deep credit research heritage provides a strong foundation for building out a private credit capability that will complement our public fixed income lineup,” said Kevin Charleston, chief executive of Loomis Sayles. “We are excited to offer clients highly differentiated and competitive private credit solutions by leveraging our research capabilities, operational and technology infrastructure, and comprehensive risk management structure.”
Gudmastad brings extensive experience underwriting and structuring highly complex transactions that generate structure premiums in addition to illiquidity premiums. He reports to David Waldman, Loomis’ chief investment officer.
Both Chris and Myles are based in Minneapolis, Minnesota.
For Further Reading:
An affiliate of Natixis Investment Managers. Investment adviser registered with the U.S. Securities and Exchange Commission(IARD No. 105377).
One Financial Center, Boston, MA 02111, USA
www.loomissayles.com
Natixis Investment Managers
Natixis Investment Managers is a subsidiary of Natixis.
Portfolio management company - French Public Limited liability company
RCS Paris n°453 952 681
Registered Office: 43, Avenue Pierre Mendes France – 75013 – Paris.
www.im.natixis.com
This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
Copyright © 2021 Natixis Investment Managers S.A. – All rights reserved