Strategies

OVERVIEW AND INVESTMENT PHILOSOPHY

Penn Capital manages a broad array of credit and equity investment strategies. As specialists in Complete Capital Structure Analysis®, we employ a private equity philosophy, approach, and process. 

 

Complete Capital Structure

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Only one default in our flagship High Yield strategy since 1999 with no defaults in Ultra Short Duration Corporate Income, Defensive Short Duration High Income, and Defensive Floating Rate Income strategies. 

Penn Capital
Equity

Penn Capital equity strategies employ a private approach to the public market with a Complete Capital Structure Analysis. The equity strategies seek to gain an informational advantage on what we believe are underfollowed companies with complex balance sheets to capitalize on market inefficiencies. High yield credit analysis specializes in leveraged capital structures, which uniquely identifies debt catalysts.

Penn Capital
Credit

Penn Capital credit strategies employ a private approach to the public market with a Complete Capital Structure Analysis. The credit strategies seek to balance quality, duration, and relative value opportunities to provide high and durable income. Equity analysis is uniquely incorporated as part of a comprehensive mosaic constructed by an integrated team of capital structure specialists.

Total Return
Alternative Strategies

Penn Capital total return strategies employ a private approach to the public market with a Complete Capital Structure Analysis. The total return strategies seek to harvest market inefficiencies by utilizing opportunistic and conservative allocations along the capital structure. Historically defensive credit has excelled due to positive downside protection, while leveraged equity has excelled due to positive upside capture. Our fully integrated credit and equity team seeks to utilize the best features of both by capturing market upside while protecting downside.  This leads to producing a differentiated high-alpha return profile.