Expanding and enhancing an Asset Manager's Private Debt Research Coverage

 

Objective
 

To expand and enhance an asset management firm’s private debt research coverage to increase dealflow capacity.

 

Key Challenges

 

  • Client required quick ramp-up of a team with relevant credit experience and strong analytical skills
  • Fast turnaround required in the initial phase for pre-screening of credits
  • Support required across the spectrum of activities performed by onshore analysts, including investor and regulatory reporting
  • Close alignment of the client analyst team with the house view

 

CRISIL's Solution

 

  • CRISIL staffed the engagement with internal talent with extensive experience in credit research
  • The CRISIL team worked as an extended part of the client’s team, providing support for tasks across the value chain:
    • Built and maintained detailed credit models with comprehensive forecasts, scenario analysis, credit metrics trajectory, capital structure analysis and covenant headroom analysis
    • Prepared credit proposals for primary deals with a detailed review and analysis of the industry, proposed transaction and company
    • Conducted a recovery analysis using the hard asset and enterprise value recovery methods for distressed credits
    • Closely monitored and assessed the credit impact on the portfolio based on economic-, industry- and company-specific developments, and recommended trade ideas
    • Took full ownership of creating portfolio summaries and investor reports/presentations, and helped build the dashboard for portfolio- and investment-level returns

 

Client Impact

 

  • 15 new investments in the first year
  • 20% expansion in coverage
  • Faster response to new deals
  • Extended coverage from 40 to 50 credits per onshore analyst
  • Timely review of investment position upon credit events
  • Automated dashboards for monitoring portfolio performance

Request for services

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Questions



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