Credit Investments

Capitalizing on market opportunities

Investing across the capital structure

We focus on direct, non-investment-grade credit investment solutions, in both private and public markets as well as on rescue financing and distressed debt opportunities.

 

Our global team in New York, London and Montréal invests in large positions across the capital structure. We balance credit quality, structure, risk-return profile, asset mix and portfolio diversification, among other considerations.

Fast facts

  • Over $13B invested since inception in late 2015 in more than 100 transactions

  • Portfolio well diversified across geographies, industries, equity sponsors and asset types

  • Global presence in Montréal, London and New York

What sets us apart?

  • Flexibility to invest across the capital structure in revolving credit facilities, loans, bonds and preferred equity

  • Rescue finance capabilities 

  • Long-term capital view through cycles

  • Commitment sizes up to $1.5B

  • Partnership approach focused on speed and certainty

Credit Investments at a glance

[In C$ as of March 31, 2020]

$
13.3
B

Net assets under management (AUM)

$
0.5
B

Performance income

4.3
%

1-year rate of return

11.8
%

Since inception annualized return (4.3 years)

Discover where we invest

Geographic diversification

  • 74.6%
    North America
  • 25.4%
    Europe

Sector diversification

  • 26.7%
    Technology
  • 18.8%
    Industrials
  • 14%
    Consumer discretionary
  • 13.6%
    Health care
  • 10.7%
    Financials
  • 5.6%
    Materials
  • 4.1%
    Communications
  • 4.1%
    Consumer staples
  • 1.3%
    Real estate
  • 1%
    Energy
  • 0.1%
    Utilities

Product split

  • 54.3%
    First Lien
  • 45.7%
    Non First Lien

Credit Investments in action

Investing across the capital structure

Company: LYTX 

Headquarters: United States 

Investment type: Debt and Equity financing 

Date: 2020 

 

PSP provided debt and equity financing in support of Permira’s acquisition of Lytx, a market leader in the video fleet management and fleet solution space. This investment represents the fourth time that PSP has invested in the company. Since August 2017, under the previous ownership, Credit Investments participated in two debt financings and PSP also participated in a preferred equity financing. These transactions highlight the value of following businesses that we know and like, leveraging solid private equity relationships, and having the flexibility to invest across the capital structure. 

Executing on new capabilities

Company:  The NORDAM Group

Headquarters:  United States

Investment type: Exit debt financing

Date: 2019

 

We were the anchor investor in the debt financing which, along with a minority equity investment from the Carlyle Group, funded the emergence from bankruptcy of The NORDAM Group. The NORDAM Group is a leading global aerospace manufacturer, and these financings enabled the founding family to retain majority ownership. This transaction highlights Credit Investments’ newest capability: debt financing in complex restructuring situations.

Our team leader

David J. Scudellari

Senior Vice President and Global Head of Credit and Private Equity Investments

Portrait of David J. Scudellari, Senior Vice President Head of Principal Debt and Credit Investments

Want to discover how you can experience the edge? Join our team.

In the US, Credit Investments operates under PSP Investments Holding USA LLC and its subsidiaries (the “US Entities”). The US Entities are engaged in their own distinct business activities, which are carried out through their own employees. The US Entities are not a registered broker-leader and do not intend to engage in any activities that would require such registration.