“I’m not sure we will do any more of these deals because there is a lot more competition coming into that market,” Cole added.
“We are also looking at direct lending,” said Ramjee. “With the banking system under regulatory pressure they are not so able to serve smaller businesses so there is demand for private lenders.”
The fund has around 16% in high yield at the moment and around 10% in property, which the team accesses via Henderson’s commercial property fund. Cole and Ramjee are not afraid to hold significant amounts of cash either, with a weighting of 13% at present.
