Opportunistic Credit
Bridgefield's flagship opportunistic credit platform, Bridgefield Credit Opportunities Fund, is an opportunistic credit investment fund that seeks to generate attractive investment returns through the acquisition of discounted credit securities whose value can increase through corporate restructuring, operational turnarounds, or asset dispositions. The strategy seeks to invest in otherwise attractive companies with strong competitive advantages, that may be overleveraged to the point of requiring a restructuring of their balance sheet. Such investments may include the purchase of bank notes, loan pools from distressed banking institutions, corporate bonds, and trade claims. Through this strategy, the Fund is seeking to create ownership of assets and companies at significant discounts to their intrinsic or enterprise values.
Our strategy is designed to (i) maximize returns and minimize risk across credit and business cycles; (ii) provide equity like returns with credit risk profile; and (iii) have a limited correlation to broader market indices.
Return Objective
Target 15-18% net IRR*; 5-7% distribution target, paid semi-annually
Track Record
Team of investment professionals led by Joseph Mathews and Richard Foster each with a track record of significant success investing in distressed securities over multiple economic cycles. Prior to Bridgefield, Messrs. Foster & Mathews were previously the Founding Partners and Managing Principals of Ilex Capital Group where they generated compounded annual gains of more than 30% investing in distress, bankruptcy and turnaround opportunities over multiple economic cycles.
Investment Characteristics
Focus on credit opportunities including purchases of secondary market first and second lien debt, stressed and distressed loans and bonds, and trade claims. The Partnership intends to primarily target debt opportunities which are senior and/or secured in the capital structure. Opportunities will be evaluated with a bias towards limiting downside risk while still targeting attractive returns. The Partnership’s objective is to attain consistent capital growth over time, largely independent of market movements.
Region
North America and Europe
Leverage
None
