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.

 

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 $10B invested since inception in late 2015 in more than 80 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, 2019]

$
10.5
B

Net assets under management (AUM)

$
837
M

Performance income

9.2
%

1-year rate of return

14.2
%

Since inception annualized return (3.3 years)

Discover where we invest

Geographic diversification

  • 73.3%
    North America
  • 26.7%
    Europe

Sector diversification

  • 24.9%
    Technology
  • 20.9%
    Health Care
  • 14.6%
    Industrials
  • 14%
    Consumer Discretionary
  • 9%
    Financials
  • 5.8%
    Materials
  • 3.8%
    Communications
  • 3.5%
    Consumer Staples
  • 2.6%
    Energy
  • 0.9%
    Real estate

Product split

  • 43.6%
    First Lien
  • 56.4%
    Non First Lien

Credit Investments in action

Investing across the debt capital structure

Company: Ellie Mae

Headquarters: United States

Investment type: Debt financing

Date: 2019

 

We provided debt financing in support of Thoma Bravo’s take-private of publicly traded Ellie Mae, Inc., a leading provider of a cloud-based loan origination system to the mortgage industry. PSP invested in the revolving credit facility, first lien term loan and second lien term loan. This transaction highlights Credit Investments’ flexibility in participating in tranches across the debt 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, Global Head of Credit Investments and Interim Chief Financial Officer

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.