Napier Park

We are pleased to announce that Napier Park and First Eagle Investments have released our latest white paper: “Structured Credit: Seeing the Forest for the Trees.” Structured credit has evolved into one of the largest segments of the U.S. fixed income market since its inception just a few decades ago. In this paper, we explore the history, unique characteristics, and the potential benefits and risks of incorporating structured credit into broadly diversified portfolios. To learn more, read here: https://bit.ly/47pRIZx Additionally, check out a brief video from Napier Park’s Managing Director and Portfolio Strategist, Noelle Sisco, CFA, CAIA, where she shares key insights and takeaways from the paper. #StructuredCredit

We are pleased to announce that Napier Park's European Credit Strategy has won the award for “Credit - Long-Term Performance (5 Years)” at the With Intelligence HFM European Performance Awards 2024, in recognition for its net performance of 15.2% p.a. over the relevant period.* This recognition marks another milestone for the strategy, now in its 15th year, reaffirming our commitment to long-term value creation for our investors. On behalf of Michael Micko and his team, we extend our gratitude to our investors and partners for your continued trust and support, and we look forward to building on this success in the years ahead. *No fees were paid in connection with either being considered a candidate or winner of any of the awards. Each set of awards has its own evaluation criteria and is typically based on fund performance, Sharpe ratio and in some cases investor testimonials and feedback. Further details concerning the evaluation criteria for any of the awards are available upon request. Period relevant for the 5 year performance award 2024 was July 2019 through June 2024.

Napier Park’s Giving Fund is a proud supporter of Plymouth Housing. The Napier Park Giving Fund is 100% employee-led and funded, and endeavors to partner with organizations that reflect the values and ideals of Napier Park. We thank our colleague, Linda Blakely, for putting forward this important organization. 

Napier Park is delighted to see its European Credit Strategy nominated as finalist in the categories ”Credit - Relative Value over $500m” and “Credit Long-Term Performance (5 Years)” at the With Intelligence HFM European Performance Awards 2024*, a great start to the 15th year of this strategy. Michael Micko Mohammed El Khazzar *No fees were paid in connection with either being considered a candidate or winner of any of the awards. Each set of awards has its own evaluation criteria and is typically based on fund performance, Sharpe ratio and in some cases investor testimonials and feedback. Further details concerning the evaluation criteria for any of the awards are available upon request.

Napier Park’s Chief Investment Officer, Jonathan Dorfman, will be speaking at Institutional Investor's 2nd Annual Allocators’ Choice Roundtable this Thursday, September 12th. Join us for an insightful discussion with Jon on the current state of the credit markets.

Lynher Energy, a joint venture between Napier Park Global Capital and Ethical Power, has signed a corporate PPA with a UK-based FTSE100 company for 100% of the clean electricity generated by the upcoming 27 MW Twitch Hill Solar Park. “This CPPA represents another step in the realisation of our ambition in the renewable energy field,” said Chris Sparrow, a Director of Lynher Energy. “The agreement provides a solid foundation for Lynher Energy to continue to grow our capacity in the near future. Working with a creditworthy FTSE100 company reaffirms our ability to make meaningful contributions to the fight against climate change while providing value for our stakeholders. The agreement also is designed to provide a high level of certainty of cashflows on this investment for years to come.” Lynher Energy will provide clean power to the oftaker under a sleeved physical PPA over a 15-year period. The Twitch Hill Solar Park will be located on a 36-hectare site in Shropshire on unutilised grade 3b land and will include a number of biodiversity measures, such as habitat creation, rewilding, and sheep grazing. Twitch Hill is currently under construction and slated to come online in September 2024. In this agreement, Lynher Energy will commit 100% of the output from the new 27 MW Twitch Hill Solar Park. Construction has already begun on Twitch Hill, which is forecasted to come online in September 2024. Ethical Power has been awarded the contract for engineering, procurement, and construction (EPC), as well as operation and maintenance (O&M) for the Twitch Hill Solar Park. Lynher was advised by Osborne Clarke while the off-taker was advised by Amber Group and EY.  #cleanenergy

We would like to congratulate our colleagues at Napier Park, a First Eagle Investments Company, for winning the Creditflux 2024 CLO Manager Award* for the Best Private Closed-End CLO Fund. *No fees were paid in connection with either being considered a candidate or winner of any of the awards. The Creditflux awards are the only credit fund and CLO industry awards solely determined by data and metrics, showcasing the market’s best performers. Further details concerning the evaluation criteria for any of the awards are available upon request. https://bit.ly/4bIu7UR

Napier Park is pleased to share that its ELM I Fund has been awarded "Best Private Closed-End CLO Fund" at the Creditflux 2024 #CLO Manager Awards*. Thank you to Creditflux for this recognition and to our investors for their continuous support.   *No fees were paid in connection with either being considered a candidate or winner of any of the awards. The Creditflux awards are the only credit fund and CLO industry awards solely determined by data and metrics, showcasing the market’s best performers. Further details concerning the evaluation criteria for any of the awards are available upon request Read more here: https://lnkd.in/gtZDVHz6

And we're off! Construction has officially started at the 26MWp Twitch Hill Solar Farm! Twitch Hill Solar Farm is owned by Lynher Energy, a JV between Ethical Power and Napier Park. The site spreads over 36ha of Grade 3b land between Lilleshall and Newport. Once operational, the solar park will generate clean green power offsetting approximately 8,150 tonnes of CO2 emissions each year. Thanks to our brilliant Site Manager, Wayne Taylor, for capturing this beautiful sunrise footage! #solarconstruction #solarpower #renewableenergy #EPC

Serhan Secmen of Napier Park led the keynote fireside chat with Thomas Wong of Oak Hill Advisors, L.P. covering insights on CLO portfolio management, the credit cycle, and the future of the loan market at the LSTA | DealCatalyst Annual CLO Industry Conference in NYC.   Some highlights:   - Best advice for CLO managers? Win by not losing! Let the CLO structure work for investors and your job is to avoid losses.   - The perfect metaphor for where we are in the credit cycle? We have landed. Just like a landing jet invariably has some bumps in those early moments, you have still landed.   - Impact of Higher for Longer? As far as technicals, without full conviction on global growth and interest rate prediction, then floating rate assets are where you want to be so demand will remain strong.    - What’s in store for the BSL loan market’s evolution? We see competition for single B-rated loans coming from secured high yield bonds and private credit. Over time the BSL market may see a higher rated cohort of borrowers than it has today. #CLOs #loans #credit