
Head of Global Private Credit / Chief Investment Officer Scott Baskind
Bachelor of Science, Business Administration
By sourcing the debt of distressed companies within inefficient markets, the strategy provides an evergreen opportunity regardless of the credit cycle.
Unlike traditional large-cap distressed strategies that are often dependent on market cycles, recessions or sector-specific shocks, we focus on idiosyncratic or company specific opportunities. We use our proprietary sourcing mechanism, rigorous diligence and an active approach to value creation to develop a differentiated, complementary and diversified portfolio.
This strategy targets equity-like returns through distressed and special situations investments, by purchasing underperforming corporate debt from existing lenders at a discount to par¹.
The strategy employs a fundamental, high conviction approach – investing at a discount to intrinsic value. Through extensive in-depth diligence, the strategy primarily purchases debt from forced sellers driven by internal limitations, and fatigued investors unwilling to own distressed debt or go through a workout process.
The team seeks to add value through an investment process focused on control and hands-on management of individual distressed investment opportunities. In managing these types of assets, the ICP team uses its experience in the bankruptcy process and in turnarounds, and also its ability to access capital and strategic partners to maximise the return from the identified underlying investment opportunity.
The team focus on opportunities in the small capitalisation and middle market space which comprises companies of less than $1B enterprise value. As a result, it offers a diverse opportunity set with structural inefficiencies:
Acknowledged as one of the world’s leading turnaround groups, Invesco Credit Partners invests in, and restructures, financially distressed situations with the objective of creating sound enterprises and commensurately improved asset valuations.
Invesco’s Private Credit platform: With over $43B in AUM in private credit across capabilities in broadly syndicated loans, direct lending and distressed credit, the platform is one of the largest loan trading counterparties and provides a significant sourcing, diligence and execution advantage².
Experienced team: The strategy is managed by a dedicated team of over 100 investment professionals with an average 20+ years' experience. They have deep restructuring and workout expertise and over $200bn of liabilities has been restructured. The ICP team has built an extensive relationship network over the last two decades and benefits from private side information from Invesco’s Bank Loan investment team.
Proactive value creation: When the team become involved in a transaction, they up front identify the key value drivers and catalysts with a two-to three-year investment horizon. The investment team takes an activist approach to financially and operationally intensive restructurings which is a key differentiator defining our value-add investment style, often participating on steering committees where the team use their expertise to extract value.
Invesco’s Distressed Credit team leverages a Global Private Credit platform of 112 professionals.
Scott Baskind is Head of Global Private Credit and Chief Investment Officer of Invesco’s Global Private Credit platform, which includes Broadly Syndicated Loans, CLOs, Direct Lending, Distressed Credit, and Opportunistic Credit.
Paul Triggiani is a Managing Director and Head of Distressed Credit at Invesco. In this role, he is focused on credit opportunities, distressed debt and special situations investments.
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