We focus our debt investing in three areas:
- Secondary stretched - debt purchased from an existing lender in good businesses with bad balance sheets in which we can take a role in the re-structuring of the capital structure;
- Secondary performing - debt purchased from an existing lender in a single asset or a portfolio of assets;
- Primary debt - investing directly in the initial issuance of debt. In general we focus on higher yield forms of debt, such as mezzanine or convertibles.