Focus: Asset backed lending: real estate, inventory, commodity, receivables, insurance and service fee rights -backed, among others.
A minority of the portfolio includes asset backed securities (ABS) strategies such as CLOs, CMOs, CDOs, specialty finance etc.
Targeted annual returns: 9-11% and annualised volatility 3% or lower
Strengths: 10 years of investing, experience in the asset backed space; the fund has had no negative months since its inception
Weaknesses: fairly illiquid
Opportunities: the emergence of more ABL and ABS managers and the increase in credit risk transfer from bank balance sheets to hedge fund.