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
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Over $26.1B invested since inception in late 2015 in more than 200 transactions
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Portfolio well diversified across geographies, industries, equity sponsors and asset types
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Global presence in Montréal, London and New York
What sets us apart?
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Flexibility to invest across the capital structure in revolving credit facilities, loans, bonds and preferred equity
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Rescue finance capabilities
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Long-term capital view through cycles
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Commitment sizes up to $1.5B
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Partnership approach focused on speed and certainty
Credit Investments at a glance
[In C$ as at March 31, 2023]
Net assets under management (AUM)
Portfolio income
1-year rate of return
5-year annualized return
Discover where we invest
Geographic diversification
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73.2%US
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25.3%Europe
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1.5%Canada
Sector diversification
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30.7%Technology
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20.9%Industrials
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12%Health care
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8.4%Consumer discretionary
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5.7%Financials
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7.1%Communications
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8.2%Materials
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3.6%Consumer staples
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1.4%Energy
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1.9%Real estate
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0.1%Utilities
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
Oliver Duff
Senior Vice President, Global Head of Credit Investments
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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.