Investment Approach
A structured process from sourcing to active management
Core Plus follows a disciplined investment process — combining rigorous analysis with a practical understanding of underlying assets, businesses, borrowers, and markets.
The Process
Source → Screen → Underwrite → Structure → Execute → Manage
Six stages, each designed to ensure disciplined evaluation, risk management, and value creation.
01
Source
02
Screen
03
Underwrite
04
Structure
05
Execute
06
Manage
Opportunity Sourcing
Identifying investment opportunities through the firm's network, market research, and relationships across European real assets and private credit markets. Selective sourcing focused on quality and fit with investment criteria.
Initial Screening
Initial investment screening to assess fundamental attractiveness, alignment with strategy, and potential risk-return characteristics before committing resources to deeper evaluation.
Underwriting
Market and sector analysis, financial and commercial due diligence, asset-level and borrower-level underwriting, and financial modelling with scenario analysis. Rigorous evaluation of credit quality, collateral, and cash-flow generation.
Structuring
Structuring and negotiation of terms — including leverage, covenant structures, downside protection mechanisms, and risk allocation — designed to protect capital and align interests across all parties.
Execution
Investment committee review and transaction execution, with disciplined oversight of legal, commercial, and operational requirements to ensure terms are delivered as underwritten.
Active Management
Active portfolio and asset management throughout the investment lifecycle — monitoring performance, managing risk, and seeking to create value through hands-on stewardship of underlying assets and borrower relationships.
Guiding Principles
What underpins our approach
Across every stage of the investment process, Core Plus applies consistent principles designed to protect capital and pursue risk-adjusted returns.
Disciplined Risk Management
Risk management embedded throughout the investment lifecycle — from initial screening through to ongoing portfolio monitoring, with a focus on identifying downside risks early.
Fundamental Research
Rigorous, research-driven analysis of markets, sectors, assets, and borrowers — combining quantitative modelling with qualitative assessment of underlying fundamentals.
Selective Approach
A selective investment approach — pursuing only those opportunities that meet the firm's criteria for quality, risk-return, and strategic fit, rather than pursuing volume.
Practical Understanding
Combining rigorous analysis with a practical understanding of the underlying assets, businesses, borrowers, and markets — bridging the gap between financial modelling and real-world outcomes.
Next Steps