Objective
 

To expand and enhance an asset management firm’s private debt research coverage to increase dealflow capacity.

Key Challenges

• Client required quick ramp-up of a team with relevant credit experience and strong analytical skills
  
• Fast turnaround required in the initial phase for pre-screening of credits
  
• Support required across the spectrum of activities performed by onshore analysts, including investor and regulatory reporting
  
• Close alignment of the client analyst team with the house view
  

CRISIL's Solution

• CRISIL staffed the engagement with internal talent with extensive experience in credit research
  
• The CRISIL team worked as an extended part of the client’s team, providing support for tasks across the value chain:
  
  • Built and maintained detailed credit models with comprehensive forecasts, scenario analysis, credit metrics trajectory, capital structure analysis and covenant headroom analysis
    
  • Prepared credit proposals for primary deals with a detailed review and analysis of the industry, proposed transaction and company
    
  • Conducted a recovery analysis using the hard asset and enterprise value recovery methods for distressed credits
    
  • Closely monitored and assessed the credit impact on the portfolio based on economic-, industry- and company-specific developments, and recommended trade ideas
    
  • Took full ownership of creating portfolio summaries and investor reports/presentations, and helped build the dashboard for portfolio- and investment-level returns
    

Client Impact

• 15 new investments in the first year
  
• 20% expansion in coverage
  
• Faster response to new deals
  
• Extended coverage from 40 to 50 credits per onshore analyst
  
• Timely review of investment position upon credit events
  
• Automated dashboards for monitoring portfolio performance
  

Questions

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