Key Takeaways
- • Loomis, Sayles & Company, an affiliate of Natixis Investment Managers, launched the Loomis Sayles Private Credit Group on January 7, 2022, with Chris Gudmastad, CFA, hired as head of private credit.
- • Gudmastad comes from Securian Asset Management, where he was vice president and head of private credit overseeing a $6.8 billion investment grade private credit portfolio and $3.3 billion in external offerings for more than 20 institutional clients.
- • Myles Reinecke, CFA, joins as senior private credit analyst, also from Securian Asset Management, reporting to Gudmastad.
- • The group's objective is to maximize current income and total return through diversified private fixed income exposure while managing downside risk through deep fundamental analysis and transaction structuring.
- • The group reports to chief investment officer David Waldman and will complement Loomis Sayles' public fixed income lineup, according to CEO Kevin Charleston.
Summary
Loomis, Sayles & Company, an affiliate of Natixis Investment Managers, announced the launch of the Loomis Sayles Private Credit Group, according to a Business Wire release. The group is led by Chris Gudmastad, CFA, who joins as head of private credit and will be responsible for lead sourcing, underwriting and portfolio management. He reports to David Waldman, the firm's chief investment officer.
Private credit is described by the firm as a growing asset class increasingly in demand across the global institutional marketplace. The group will be a key component of Loomis Sayles' client-based solutions suite. Its stated objective is to deliver portfolios that seek to maximize current income and total return through diversified exposure to private fixed income investments, using deep fundamental analysis and transaction structuring to manage downside risk. Gudmastad brings experience underwriting and structuring complex transactions that generate structure premiums in addition to illiquidity premiums.
Gudmastad has more than 20 years of financial services experience, most of it in private credit. He previously served at Securian Asset Management as vice president and head of private credit, where he oversaw a $6.8 billion investment grade private credit portfolio and the management of the firm's $3.3 billion external offerings across more than 20 institutional clients. Myles Reinecke, CFA, also joins from Securian as senior private credit analyst. He will lead credit analysis for originating, underwriting and structuring opportunities across sectors, handle risk management and relative value recommendations, and assist with portfolio management operations. Reinecke has 10 years of industry experience. Both are based in Minneapolis, Minnesota.
Kevin Charleston, chief executive officer of Loomis Sayles, said the firm's value-oriented, deep credit research heritage provides a foundation for a private credit capability that will complement its public fixed income lineup. Loomis Sayles manages $353.7 billion in assets as of September 30, 2021, while Natixis Investment Managers reports nearly $1.4 trillion in AUM as of the same date.
Private credit is described by the firm as a growing asset class increasingly in demand across the global institutional marketplace. The group will be a key component of Loomis Sayles' client-based solutions suite. Its stated objective is to deliver portfolios that seek to maximize current income and total return through diversified exposure to private fixed income investments, using deep fundamental analysis and transaction structuring to manage downside risk. Gudmastad brings experience underwriting and structuring complex transactions that generate structure premiums in addition to illiquidity premiums.
Gudmastad has more than 20 years of financial services experience, most of it in private credit. He previously served at Securian Asset Management as vice president and head of private credit, where he oversaw a $6.8 billion investment grade private credit portfolio and the management of the firm's $3.3 billion external offerings across more than 20 institutional clients. Myles Reinecke, CFA, also joins from Securian as senior private credit analyst. He will lead credit analysis for originating, underwriting and structuring opportunities across sectors, handle risk management and relative value recommendations, and assist with portfolio management operations. Reinecke has 10 years of industry experience. Both are based in Minneapolis, Minnesota.
Kevin Charleston, chief executive officer of Loomis Sayles, said the firm's value-oriented, deep credit research heritage provides a foundation for a private credit capability that will complement its public fixed income lineup. Loomis Sayles manages $353.7 billion in assets as of September 30, 2021, while Natixis Investment Managers reports nearly $1.4 trillion in AUM as of the same date.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.