Schroders Capital has brought its private debt and credit alternatives business together in a new business unit.
The newly-formed Private Debt and Credit Alternatives (PDCA) business will comprise real asset debt, structured and corporate credit, speciality finance and impact lending.
The new unit will initially oversee $30bn in assets under management with more than 100 investment professionals, Schroders said.
Michelle Russell-Dowe and Stephan Ruoff will lead the new platform as co-heads from the US, reporting into Georg Wunderlin, global head of private assets. Both will continue their responsibilities as global head of securitised product and asset-based finance and global head of insurance-linked securities (ILS), respectively.
Schroders said that by merging strategies onto a shared platform, the PDCA would offer increased investment flexibility, with investors able to benefit from a broader range of accessible products, as well as enhanced product development and communication between Schroders Capital’s specialist investment teams.
It also said the new platform would allow the asset manager to communicate its macroeconomic views more effectively and align opportunities across the platform while also further strengthening distribution and risk management. The new platform would be “an engine for growth”, it said.
Georg Wunderlin, global head of private assets at Schroders Capital, said there was clear appetite from investors to capture the diversification and returns that private assets can offer.
“Global macroeconomics combined with the credit cycle are providing strong tailwinds particularly for debt and credit strategies,” he said. “The private debt total market is estimated at around $23trn, but only some 6% is currently served by private credit managers, leaving plenty of room for growth.
“We are excited to bring together our alternative credit businesses into one leading platform at such an opportune time. This will allow us to provide a wide range of flexible financing solutions to the market and a rich set of investment opportunities to our clients.”
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