High-yield bank loan market pioneer Jeffrey W Maillet has launched Noble Asset Management, LLC together with a multi-strategy investment vehicle.
Noble will initially employ a range of strategies including long/short special situations, long/short high-yield, and long/short distressed securities investments.
Maillet, who has more than two decades of experience investing in high-yield corporate securities and has managed USD12.8 billion in loan funds for retail and institutional investors, has purchased and influenced the structuring of more than 2,000 high-yield issues totalling USD 28 billion, and managed one of the largest collateralized loan obligations (CLO) portfolios ever launched. In addition, he managed one of the largest exchange-traded-funds listed on the NYSE.
"After more than two decades of investing across the capital structure of corporate America, we are uniquely positioned to identify and capitalize on the many distressed, special situation and value plays that we see in today's marketplace," said Maillet, owner and principal of Noble Asset Management.
The new multi-strategy investment vehicle managed by Maillet is designed to operate across the capital structure of a company including common equity, senior debt, subordinated debt, mezzanine debt, convertible debt, and US government securities.
The special situations portion seeks to capitalize on corporate restructurings, spin-offs, and mergers and acquisitions. The distressed portion seeks to invest in companies that are undergoing reorganizations or liquidations, or that have attractive fundamentals but have fallen out of favour.
Background notes: Noble Asset Management, LLC, is a Chicago-based asset management firm founded by Jeffrey W.Maillet. who has more than two decades of investment experience in high- ield corporate debt, corporate restructurings, bankruptcy workouts and other distressed and out-of-favour securities. Noble Asset Management currently manages a multi-strategy investment vehicle and is seeking to develop high-yield loan portfolios and structured products.