Credit risk sharing will strengthen current corporate private credit offerings
February 15, 2022
Man Global Private Markets (“Man GPM”), the private markets investment business of Man Group, today announces that Matthew Moniot and Jonathan Imundo are joining the firm as co-Heads of Credit Risk Sharing (“CRS”), bringing together 40 years of experience in alternative asset management and banking. Both come from alternative credit manager Elanus Capital Management (“Elanus”) and will report to Eric Burl, head of Man GPM.
Matthew will be responsible for managing Man GPM’s new strategy and CRS team, including portfolio management and origination. He has deep expertise in investing in the credit, structured credit and equity markets across multiple market cycles. Matthew founded Elanus in 2010 to execute CRS transactions with European banks and, as one of the first specialist asset managers in the space, has since served as Chief Investment Officer, managing transaction banking, specialized financing and insurance risk sharing. Prior to Elanus, Matthew managed an international financial portfolio at Millennium Management and global financial portfolios at Lehman Brothers and Omega Advisors. He is based in London.
Jonathan will continue to devote the majority of his time to the existing Elanus business, maintaining his role as President and Head of Client Solutions at Elanus with primary responsibility for the continued successful management and return of capital to existing Elanus investors. In his role as Man GPM, Jonathan will focus on business development, working with the Man Group sales team and clients on new CRS solutions. Prior to joining Elanus, he spent a decade at Barclays, where in his last role as Managing Director he led the origination and distribution of CRS Investments and Private Credit. Jonathan is based in New York.
Credit risk sharing, whereby investors participate in the credit risk of loan portfolios issued and managed by sponsoring financial institutions, including banks and insurance companies, aims to expose themselves to credit risks selective and generate regular income while preserving capital. The asset class allows investors to access risk-adjusted returns while spreading credit risk across capital markets. CRS’ team and strategy will expand Man GPM’s private credit investment capabilities, in addition to the firm’s existing residential real estate debt and specialty lending offerings. Man GPM has $3.5 billion in assets under management, including commitments, and has deployed more than $7 billion of capital in equity and debt investments since inception1.
Eric Burl, Head of Man GPM, said:
“We are looking to selectively add new talent and strategies in areas where we believe we can add alpha, and we believe Matthew and Jonathan are well positioned to provide differentiated credit solutions to clients. While investors continue to seek yield, we believe this to be an area that can add income, provide portfolio diversification and serve as a complement to a broader and more liquid credit portfolio.”
Matthieu Moniot adds:
“Jonathan and I are delighted to join the Man GPM team at a time when the credit risk sharing asset class is growing in an important market where we see continued opportunities that have the potential to generate returns of high quality. We look forward to leveraging the technology and infrastructure that Man Group provides to expand our established market position in conjunction with the private market experts at Man GPM.”
1. As of September 30, 2021.