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Panagram Structured Asset Management Announces Launch

June 17, 2021, 08:12 AM
Filed Under: Industry News

Panagram Structured Asset Management (“Panagram”), an Eldridge business and an SEC-registered investment adviser (“RIA”) specializing in structured credit, announced its launch. Panagram currently oversees approximately $13.5 billion in assets under management.

Panagram is led by John Kim, former Principal and Head of Structured Products at Eldridge. Kim and his team of investment professionals, who have worked together since 2014, invest across the capital structure, namely in Collateralized Loan Obligations (CLOs), Asset-Backed Securities (ABS), and Commercial Real Estate (CRE). Panagram is one of the largest CLO structured lead investors in the market, with approximately $12 billion in CLOs and more than 45 control positions currently managed. The firm offers strategies that combine fixed income investing with structuring capabilities to provide investment solutions for institutional clients in separately managed accounts, private funds, and other investment structures.

“With our decades of collective experience investing in structured finance and with Eldridge’s support, we are proud to be launching Panagram to focus on the best opportunities in the sector for our clients,” said Kim. “As spreads continue to tighten, Panagram’s holistic view of the private credit market enables us to source and execute on transactions that would otherwise remain unseen.”

As an Eldridge business, Panagram joins a network of RIAs already within the Eldridge family, including:

  • Cain International (“Cain”), a real estate investment firm operating in Europe and the U.S., which has deployed more than $6 billion across real estate debt, real estate equity, and private equity. Cain was co-founded in 2014 by Eldridge leadership.
  • CBAM, an alternative investment management firm with more than $14 billion in AUM across the U.S. and Europe, which specializes in opportunities across the capital structure spectrum, from senior secured debt to liquid common equity. CBAM was launched in 2016.
  • Maranon Capital, an investment manager founded in 2007 and focused on directly originated private credit, which has invested over $8 billion of capital in middle market businesses.

“We are excited to see John and his team build on their success and expertise within the structured product space, which continues to be one of the strongest asset classes in the market,” said Todd Boehly, Chairman and CEO of Eldridge. “Under John’s leadership, we are confident in the team’s ability to leverage its market-based approach to credit investing to continue to grow the business.”

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