Active across a broad spectrum of instruments and asset classes, LXM’s credit franchise offers advisory and execution services to clients on an impartial and confidential basis. Our credit team averages over 20 years’ experience gained at investment banks, hedge funds and insurance companies. Product expertise includes investment grade bonds, asset-backed securities, structured credit, high yield bonds and loans, distressed assets, and both performing and non-performing loans. Since the inception of LXM’s credit business, we have traded actively across all these asset classes.
Our flow credit business focuses on investment-grade and high-yield credit. We transact daily with a wide variety of clients comprising asset managers, insurance companies, hedge funds and private banks. We do not take positions as principal, thereby ensuring we are always aligned with our clients’ interests. Our business specialises in offering liquidity to our clients in sectors or markets where such levels are often difficult to obtain. Examples include offering liquidity in US dollar products to Asian clients during their trading day or helping overseas investors navigate the idiosyncrasies of the sterling bond market.
In addition to the flow business, we have had demonstrable success in structured credit transactions. Recent business includes the liquidation of a portfolio of bank capital and a portfolio of CDO mezzanine tranches as well as the placing of a $300m-portfolio of structured notes secured on high grade Belgian credits. We engage in very close dialogue with our clients during such transactions to provide maximum transparency from offering through to settlement.
Our trading desk is located in London but we have significant expertise in Asia with several members of our team having worked in the region. This geographical diversity enables our clients to access liquidity from a wide variety of sources throughout our network.