Strategies
| NPC Strategies | Control Equity Strategy | CLO Mezzanine Strategy | Customized Solutions |
| Available Vehicles | Closed-ended comingled vehicle, SMA | SMA | Customized |
| Description | – Subordinate and mezzanine tranches of CLO and CLO-adjacent structured credit products | – BBB and BB tranches of CLO and CLO-adjacent structured credit products | – Strategies tailored to meet specific portfolio exposure, capital and return targets – Opportunistic and situational bespoke investments |
About The Control Equity Strategy
A private equity-style approach to investing in externally managed control CLO equity positions and similarly structured bespoke equity investments with an ability to opportunistically allocate to CLO mezzanine tranches
ANTICIPATED BENEFIT TO INVESTORS
Credit Diversification
Actively managed portfolios of senior secured loans broadly diversified across issuers, sectors, collateral management styles and vintages
Return
Enhancement
High potential returns relative to investments with comparable risk and liquidity
Portfolio Complement
Benefit from a reduced J-curve and a less correlated return stream versus other private equity and private credit capital allocations
Exploit Market Dislocations
We provide an opportunity to be "long volatility" and CLO equity additionally benefits from a structural framework that provides optionality in a variety of markets
Target returns are neither guaranteed nor a projection of future performance. Targeted returns are presented on a net basis (i.e., calculated based on returns after management fees and carried interest before taxes or withholdings incurred by investors directly or indirectly and excludes servicing fees, as applicable, organizational expenses, certain tax liabilities, certain non-fee and/or non-carry bearing parties, and adds back the effect of any tax distributions paid for carried interest already reflected in the returns.) The Firm believes its performance targets to be reasonable and sound under the current circumstances, but they are based on material assumptions, and there can be no assurance that they will be achieved. The Firm may cause clients to make portfolio investments for which the Firm’s cash flow analysis indicates higher or lower target returns. Actual returns will be based on numerous factors, including the pace and duration of investment, expenses and fees, the availability and cost of leverage and financing, market conditions and broad general macro economic factors, all of which would significantly impact any returns and distributions