This strategy makes event-driven and special situation corporate
investments across the entire capital structure within the context
of a secular macro framework. The investment process dynamically
integrates top-down macro themes and hedging with bottom-up
corporate security selection, using a diverse range of products,
instruments and asset classes. This integrated approach has
successfully captured many of the defining developments of the
recent investment landscape.
The strategy's long-term thematic focus is the movement of capital
and balance sheet strength from the developed debtor nations to the
developing creditor nations. Corporate investments principally
target distressed credit in the debtor economies, and domestic
demand driven equity opportunities in the creditor world.
The Distressed Credit and Special Situations strategy is managed
by Daniel J.