Opportunistic Credit seeks to generate strong risk-adjusted returns by capturing value in mispriced investments across disrupted, dislocated and distressed situations. Our Opportunistic Credit team conducts extensive fundamental diligence to underwrite collateral, assess downside risks and identify catalysts. In many cases, we actively seek to engage in enforcing creditor rights and other legal strategies to drive value creation.
Global Expertise Across Credit Strategies
Sculptor’s credit platform comprises three integrated pillars: Opportunistic Credit, Institutional Credit Strategies (ICS) and Private Credit. In Opportunistic Credit, we invest in complex situations across global corporate and structured credit markets, including liquidations and restructurings. Institutional Credit Strategies is our performing credit platform through which we issue and manage portfolios of loans and other assets. Private Credit provides direct financing to borrowers.
Sculptor Capital Credit Strategies
$22.2 billion
Assets under management in Sculptor Capital's dedicated credit products as of May 1, 2023 1
1 This figure is an estimated and unaudited amount. Please see our latest 10-Q/10-K and earnings press release for further description of our assets under management.
Opportunistic Credit
Credit Leadership
Jimmy Levin
Chief Investment Officer & Chief Executive Officer
Brett Klein
Global Head of Corporate Credit
Udai Bishnoi
Global Head of Structured Credit
Josh Eisenberger
Head of U.S. CLO Management
Adeel Shafiqullah
Head of European CLO Management
Dylan Szymanski
Head of Europe and Asia Corporate Credit
Our Approach
We operate a highly opportunistic approach to corporate credit investing which ranges from from buying “cheap” securities to event-driven opportunities that focus on complex distressed liquidations, restructurings and bankruptcies. Our aim is to surface high conviction, best ideas with idiosyncratic return drivers that have less sensitivity to market direction.
Rigorous Analysis
Exercise deep and thorough fundamental analysis across sector, issuer, asset coverage, structure and all parts of a capital structure to understand valuation, downside scenarios and where value may be obscured by processes, complexity or market inefficiencies
Dynamic Allocation
Shift capital across U.S. and European structured, corporate and related credit markets to what we believe to be the most attractive investment opportunities
Proactive Value Creation
Defend creditor rights, direct liquidations, navigate restructuring processes and implement legal strategies designed to unlock and enhance value
Investment Characteristics:
Complex
Provide solutions/liquidity in complex, misunderstood and less followed situations
Process-Driven
Identify catalysts that may drive changes in value
Institutional Credit Strategies
Institutional Credit Strategies (ICS) invests in performing credit, including leveraged loans, high-yield bonds, private credit/bespoke financings and investment grade credit, serving clients via collateralized loan obligations (CLOs), commingled products and customized solutions. ICS implements a research-driven, bottom-up investment process with a focus on downside protection, optimization, superior credit selection and active portfolio management.
ICS Platform
The ICS platform manages approximately $16.3 billion in assets under management as of May 1, 2023. Assets include both CLOs and several aircraft securitization vehicles where Sculptor acts as collateral manager. 1
| 2011 | $0.00 |
| 2012 | $975.8 M |
| 2013 | $2.6 B |
| 2014 | $5.2 B |
| 2015 | $7.2 B |
| 2016 | $8.0 B |
| 2017 | $10.1 B |
| 2018 | $13.5 B |
| 2019 | $15.7 B |
| 2020 | $15.7 B |
| 2021 | $15.7 B |
| 2022 | $16.3 B |
| 2023 (May-1) | $16.3 B |
Cumulative vehicles launched since the inception of ICS in May 2012
Assets under management in ICS as of May 1, 2023
1 This figure is an estimated and unaudited amount. Please see our latest 10-Q/10-K and earnings press release for further description of our assets under management.
Private Credit
Private Credit provides customized capital solutions to borrowers across the capital structure working in partnership to unlock value-creating opportunities. Our Private Credit team seeks to leverage the Firm’s platform to source and underwrite opportunities generating attractive risk adjusted returns. The investment strategy is based on extensive due-diligence and fundamental analysis on credit, industry, assets, structure and legal documentation to protect capital. We actively work with borrowers throughout the lifecycle of an investment to drive successful outcomes.
Recent News
Market Insights - Credit Investment Themes
Jimmy Levin, Sculptor CIO & CEO, discusses notable investment themes in credit markets and the advantages in today's environment of having an unconstrainted and flexible investment approach.
Market Insights - Credit Environment
Jimmy Levin, Sculptor CIO & CEO, discusses the firm's views on current credit markets.