Credit

Overview

ABOUT

The MSD Credit Team invests in private and public opportunities that offer attractive risk-reward. We pride ourselves on solving complex borrower issues and employing a long-term partnership approach with management teams and intermediaries. Over our 15-year history, we have developed a reputation for leveraging the firm’s broad network of relationships to add value to our portfolio companies.

APPROACH

The Credit Team’s approach is flexible by nature. While we primarily invest in loans and notes, we have the capability and experience to invest across the capital structure, including senior secured, mezzanine and equity-linked securities. We seek opportunities that provide attractive returns with limited risk of capital impairment, across a broad range of industries.

In private markets, the Credit Team works efficiently with management teams and intermediaries to perform diligence and structure financing solutions. Throughout the life of our investment we leverage our organization’s extensive relationships to provide support to our portfolio companies in any way we can.

In public markets, we leverage our knowledge base to employ a value-oriented approach, investing in opportunities we believe to be undervalued across the capital structure. Among other types of investments, we may invest in leveraged loans, high-yield debt and, in some cases, preferred and common equity in both performing businesses and those undergoing stress/distress (e.g., dislocated industries, financial restructuring/bankruptcy, weak operating performance, etc.).

PHILOSOPHY

We employ a fundamental, value-oriented approach and seek investments with return characteristics comparable to the risks we are taking.

INVESTMENT OBJECTIVE

The Credit Team targets attractive risk-adjusted returns while maintaining its principal focus on the preservation of capital. We invest in opportunities that we believe will endure periods of stress based on our up-front diligence and post-investment monitoring.

Unique Attributes

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Experience

We have significant experience investing in both public and private markets. Our involvement across a wide range of industries can allow us to move quickly and add value to the investments we make.

Execution

We offer novel and bespoke financing solutions; our knowledge and experience allow us to quickly respond to complex situations. We maintain a flexible and creative approach and are unconstrained by the need to fit an investment into a box.

Reputation

Over the last 15 years, the Credit Team has developed a reputation for being transparent and fair, while finding creative ways to add value. Often, our collaborative efforts and relationships with board members and management teams result in multiple successive investments over a long period of time.

We have significant experience investing in both public and private markets. Our involvement across a wide range of industries can allow us to move quickly and add value to the investments we make.

Experience

We offer novel and bespoke financing solutions; our knowledge and experience allow us to quickly respond to complex situations. We maintain a flexible and creative approach and are unconstrained by the need to fit an investment into a box.

Execution

Over the last 15 years, we believe the Credit Team has developed a reputation for being transparent and fair, while finding creative ways to add value. Often, our collaborative efforts and relationships with board members and management teams result in multiple successive investments over a long period of time.

Reputation

Team

The Credit Team’s culture is defined by innovative thinking, an open exchange of ideas and developing a deep understanding of the businesses in which we invest.

COF's Portfolio Manager has been managing a credit opportunity strategy at MSD for 15 years and has in excess of 30 years of experience. He is supported by a team that has broad industry experience and has worked together for many years.