Liquid credit:
Liquidity with discipline. Order across markets.

Disciplined exposure across highly liquid investment-grade and high yield credit markets. Aeon's liquid credit strategies provide capital efficiency, portfolio flexibility, and consistent income within a security-level investment framework.

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Capabilities

Security-level discipline across public credit markets

Aeon's liquid credit platform operates across investment grade credit, high yield, leveraged loans, and public structured credit. Every position is selected through fundamental analysis, sized within defined risk parameters, and monitored continuously.

Investment grade credit

Disciplined exposure across US investment-grade corporate bonds, subordinated financials, and public structured credit. Focused on capital efficiency and consistent income generation within defined credit quality constraints.

Investment grade credit

High yield & leveraged loans

Selective exposure to high yield bonds and broadly syndicated leveraged loans, accessed through primary issuance and secondary markets. Position sizing reflects structural protection, covenant quality, and capital treatment.

High yield & leveraged loans

Public structured credit

Investment-grade exposure across CLOs, CMBS, and ABS in public markets. Combines fundamental credit analysis with structural expertise to capture complexity and illiquidity premia within a liquid format.

Public structured credit

Relative value selection

Continuous relative value assessment across public credit markets, deploying into dislocated opportunities and rotating within the permissible universe to capture incremental spread within defined risk parameters.

Relative value selection

Our experience

Public markets, private market discipline

Aeon's liquid credit platform combines fundamental credit analysis with structural and capital-aware portfolio construction. Active surveillance and cycle-consistent discipline are applied across investment-grade, high yield, and structured credit markets.

Primary market access

We participate directly in new issue markets across investment-grade, high yield, and structured credit, accessing pricing and allocation advantages available to institutional participants.

Active surveillance

Positions are monitored continuously against credit metrics, covenant compliance, and structural triggers. Early identification of deterioration is built into the process, not managed reactively.

Capital-aware positioning

Every position is assessed for its capital treatment and contribution to portfolio-level risk metrics. We optimise for capital-adjusted spread, not gross yield.

Cycle-consistent discipline

Our approach does not change with market sentiment. The same underwriting standards and risk governance apply in tight-spread environments as in dislocated ones.

Our Approach

Conviction without compromise

Liquid credit demands the same security-level discipline applied across Aeon's private strategies. Every position is selected through fundamental analysis, sized within defined risk parameters, and held only where capital-adjusted spread justifies inclusion. The framework prioritises consistency through cycles over tactical positioning.

Security-level selection

Every position begins with fundamental analysis of the individual issuer or structure. We assess cash flow durability, structural protection, and downside scenarios before any capital is committed.

Integrated risk management

Liquidity, duration, drawdown tolerance, and capital sensitivity are assessed continuously. Portfolio positioning reflects the aggregate risk framework, not individual position conviction alone.

Consistent governance

Investment committee oversight applies to all liquid credit positions. No allocation is made outside defined parameters and no position is held without a documented rationale.

Patient capital. Precise execution.

Speak to our team about Aeon's credit platform and how it can support your investment objectives.

Insights

Key market trends

Credit research and portfolio insights grounded in structure, risk discipline, and institutional practice.