Desjardins Insurance is proud to announce the addition of the Fiera Comox Private Credit Opportunities Fund to the composition of its Multi-Manager Private Credit Fund. This addition is intended primarily to increase the level of diversification within the Fund’s portfolio of underlying private strategies. The initial commitment towards this new fund made in October 2022 was set at 15% of the Multi-Manager Private Credit Fund. Following this addition, the target allocation to the PIMCO Private Income Fund will gradually move from 50% to 35%, while the Fund’s exposure to its other underlying funds will remain unchanged.
The Fiera Comox Private Credit Opportunities Fund is a diversified portfolio of global corporate private credit instruments that aims to generate attractive absolute returns over the long term while preserving capital. It seeks to build and maintain a portfolio of approximately 20 investments, concentrating on senior and subordinated debt while opportunistically investing in junior credit instruments. The fund manager considers various financing transactions, primarily with mid-market companies in the United States and Europe, including acquisitions, refinancings, dividend recapitalization and growth financing. It seeks to optimize the portfolio for performance across economic cycles, looking for 4 main characteristics across all investments: (i) quality companies; (ii) high contractual returns; (iii) tight and restrictive legal documentation; and (iv) downside protection in the event of an economic downturn.
About the Multi-Manager Private Credit Fund
This fund is composed of a portfolio of underlying funds that seeks to maximize current income while limiting interest rate sensitivity. It invests in different Canadian and foreign fixed income funds, primarily targeting private strategies that can cover corporate lending, consumer lending, real estate debt and infrastructure debt, as well as other lower-liquidity assets such as bank loans. The fund will also invest a limited portion of its assets in publicly traded fixed income securities.
To know more about this change, contact your client relationship manager.