About us
A collaborative team with enduring values
Founded in 2001, LCM is one of the most experienced and well-established CLO managers in the market.
LCM has issued a total of 40 cash flow CLOs and currently manages $11.9 billion of assets1. The LCM team is collaborative and close-knit, with many of the portfolio managers having worked together for decades.
LCM was originally established as a subsidiary of Credit Lyonnais where senior members of the team held leadership roles in the bank’s specialized industries, balance sheet management and workout teams.
In creating LCM, their vision was to take the disciplined credit and risk management culture in banking and enhance it with a more dynamic portfolio management style.
1. As of June 30, 2023
In 2009, LCM was acquired by Tetragon Financial Group, a closed-ended investment company that invests in a broad range of alternative assets. LCM is now part of Tetragon’s diversified alternative asset management platform, TFG Asset Management.
The acquisition gave LCM the entrepreneurial independence and infrastructure needed to further support its growth, increasing AUM by over $10 billion. Tetragon also continues to be a significant investor within LCM’s global investor base.
For more information see www.tetragoninv.com
Our Approach
LCM is committed to fundamental credit analysis and dynamic risk management. We are an active manager and focus on the credit risk stability of each CLO, with a goal of achieving optimal portfolio risk quality across changing market conditions.
Conduct fundamental credit analysis
Promote CLO structural integrity
Actively manage portfolio risk
Systems and processes for enhanced decision making
ESG
LCM has been sensitive to the importance of ESG considerations to the investment process since inception. As an institutional investor and a signatory of the UN PRI, we are committed to acting in the best long-term interests of our beneficiaries in this fiduciary role. We follow our established ESG guidelines within our CLO indentures and incorporate ESG Risk Evaluation within the Investment and Monitoring Process of the underlying CLO Collateral.
A steady issuer in the CLO market 1, 2
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1.
As of March 31, 2023. Includes, where relevant, investments in the applicable CLOs by Tetragon Financial Group Limited, Tetragon Credit Income II L.P. and Tetragon Credit Income III L.P. December 2020 AUM figure includes warehoused assets of LCM 31 which priced on December 18, 2020. LCM 31 subsequently closed on February 3, 2021.
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2.
LCM I was redeemed in September 2012, LCM II in January 2013, LCM III in June 2014, LCM IV in July 2014, LCM V in December 2015, LCM VI in November 2015, LCM VIII in July 2013, LCM IX in October 2016, LCM X and LCM XI in January 2017 and LCM XII in August 2017. LCM VII was a market value CLO. Active management of LCM VII was terminated in December 2008 and the transaction was subsequently liquidated.
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