Foundation
Credit
Opportunities

Differentiated Mandate

Foundation Credit Opportunities ("FCO") is our municipal credit strategy which capitalizes on the recurring inefficiencies across the multi-trillion, US public finance markets.

An Opportunity Set Driven by Distinct Market Structure

Fragmented and diverse credit universe with few credit experts
Very susceptible to technical supply and demand factors
Dominated by passive, defensive and long-only strategies
Thinly capitalized dealers spur discontinuous price action

Investment Process

Key considerations

Fundamentals

Structure

Technicals

Portfolio Construction

Idiosyncratic

Technical

Distressed

Structured

Return Stream

Absolute Return

Modest Volatility

Low Correlation

Distinct FCO Advantage

Broad and unbiased mandate
Decades of municipal market and public finance experience
Market leaders in trading, developing solutions and managing risk
Extensive network for sourcing, structuring, funding, and investing

FCO’s investment team consists of experienced professionals with decades of demonstrated expertise in sourcing, analyzing, structuring and executing across a range of products and credits to deliver consistent, differentiated returns.