Investment Strategies
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Private Placement Debt
Private Placement Debt
Access a diverse range of high-quality private credit exposures with enhanced yield profile versus public debt and structural protections1
- Esoteric structured ABS, project finance & infrastructure, credit tenant / ground leases, and corporate credit offering illiquidity premium-driven yield pickup potential
- Enhanced downside mitigation via financial covenants and other structural protections
- Diversification benefits from non-corporate exposures and broader scope of issuers not available in public markets
the Market
Relationship-driven market with ~$100B annual issuance, requiring sourcing relationships and underwriting acumen.
Market is traditionally buy-and-maintain, with an average of $3-4bn of secondary trading liquidity per year
Tends to attract high-quality issuers who value and require confidentiality and ability to tailor terms and structure
A blend of investor-friendly characteristics, typically including seniority, covenants and call protection
Experienced Market Professionals with Broad Access to Deals
Approximately one third of production is generated through limited distribution opportunities 5
Relationship-driven market built on trust, transparency, experience, reputation, and ability to execute
NB Private Placement Debt team has longstanding industry relationships globally across banking, investor, issuer and legal communities
We bring the agent bank relationships critical to access unique and scarce issuers along with broadly syndicated market participation where reliability and speed of execution are critical
We expect to see most of the syndicated market and to have broad access to bilateral transactions, club deals and other unique financing opportunities
Strategic approach to allocations, emphasizing biding strategy and balancing priorities of the issuer and investor