The Standards Board for Alternative Investments (SBAI) has launched its Alternative Credit Working Group to explore current institutional investor priorities in the credit space, as well as standards and practices.
The Standards Board has also welcomed Angelo Gordon, Bridgewater Associates and Magnetar Capital as new Core Supporters.
The Alternative Credit Working Group will explore a wide variety of topics in the credit space, including managing conflicts of interests, investor transparency requirements and valuation of credit investments. The launch event on 12 March in New York, brought together leading credit investors and managers and was hosted by New Holland Capital, with the support of Angelo Gordon. The Working Group is expected to complete its work by the end of 2019.
Over the past decade, many institutional investors have embraced alternative credit, which is an important asset class, providing funding to economic activity outside of bank balance sheets. Jim Grossman, Chief Investment Officer of the Pennsylvania Public School Employees’ Retirement System (PSERS) and member of the working group, says: “Good standards of practice are critical from an institutional investor perspective. We encourage credit investment managers to sign up to the Alternative Investment Standards, and we look forward to contributing to the working group.”
The Standards Board’s new Core Supporters, Angelo Gordon, Bridgewater Associates and Magnetar Capital, expand the organisation’s group of Core Supporters, which also includes Aberdeen Asset Management, Albourne Partners, Arrowgrass Capital Partners, Carlson Capital, Citadel, Ionic Capital Management, Orchard Global Asset Management, PAG and Unigestion.
Kirk Wickman (pictured), President of Angelo Gordon, says: “The Standards Board is of tremendous benefit to the alternative investment industry through bringing together investors and managers to improve how the industry operates. We are delighted to be strong supporters of this important organisation and its work.”
Alec Litowitz, founder and CEO of Magnetar Capital, says: “Alternative credit has been a core part of our business for many years. We are proud to be a Core Supporter and are pleased SBAI is creating a working group to provide a forum for alternative credit investors and managers to discuss pressing trends as the strategy continues to evolve.”
The Standards Board is the global standard-setting body for the alternative investment industry and custodian of the Alternative Investment Standards. It is supported by approximately 200 alternative investment managers and institutional investors who collectively manage USD3.5 trillion. The SBAI Toolbox complements the SBAI’s standard-setting activities by providing additional guidance to managers, investors and fund directors on practical issues.
