GoldenTree Asset Management: Best Credit Asset Manager United States 2022
GoldenTree Asset Management is an employee-owned firm that specialises in high yield bonds, leveraged loans, distressed, structured products, emerging markets, and credit-themed equities. GoldenTree has nearly $47bn in AUM as of December 1, 2021, deploying capital across alternative and fixed-income strategies covering diverse industries and geographies. GoldenTree is a global operation, with headquarters in New York and offices in West Palm Beach, London, Singapore, Sydney, Tokyo and Dublin. The 250 employees collectively speak approximately 20 languages, and over 60 investment professionals bring an average of 16 years’ experience to the team. GoldenTree’s flagship credit hedge fund has delivered annualised net investor returns of between nine and 10 percent since its inception — and 2020 and 2021 saw an uptick in performance. GoldenTree investments include distressed opportunities, with $30bn invested since 2000 and over $6bn in distressed capital under management currently. These investments have averaged an internal rate of return (IRR) of 25 percent. GoldenTree began issuing collateralised loan obligations (CLOs, single securities backed by a pool of debt) in 2000 and has realised top decile IRRs across market cycles. GoldenTree CLOs have achieved market-leading equity distributions in the US and Europe, with annualised outperformance on the underlying loans relative to the index averaging over 100bps. In 2016, a CLO equity fund — the GoldenTree Loan Management programme — was launched with a differentiated structure for enhanced returns, witih a second vintage raised in 2019. The strategy in aggregate has raised over $1.3bn. The programme has achieved high quarterly distributions, around 15 percent per annum. The CFI.co judging panel presents GoldenTree Asset Management, a repeat programme winner, with the 2022 award for Best Credit Asset Manager (US).
