We specialise in Credit Create Access. Protect Assets. Co-Invest.
>220
Credit investments concluded
$1.5bn
AUM previously
manage
1
Focus: Private
Credit
100%
Credit is complex. And we know it.
We started by going the “unusual way”.
When we first obtained the mandate from three families with entrepreneurial backgrounds to build their new family office investment platform we started by going the “unusual way”. We ignored the conventional asset class allocations and developed a new investment approach which aims to generate continuous, stable net returns while providing strong capital preservation. Our experience in previously operating one of the largest independent investment manager platforms in the United Kingdom had provided us with the right data and insights on how to implement the investment strategy. We are making this expertise available to external professional investors by providing access to Diversified Credit Investments.
We are a diverse and collaborative team of professionals with financial services and institutional investing backgrounds. We believe in a partnership approach that ensures we fulfil the mandate we are committed to. In the pursuit of our joint investment objectives we are relentless because we have to be.
Tropea's Four Diversified Credit Strategies
Liquid Loans
This strategy invests mainly in senior secured floating rate loans, typically secured by company assets. In the capital structure of a company these loans rank senior over all other forms of debt, providing a higher level of protection than more junior tranches of debt. These loans are traded in the over-the-counter market.
Direct Lending
Typically associated with longer term funding structures and higher returns than liquid loans, this investment strategy has the ability to select higher quality corporate borrowers, carry out more in depth due diligence and negotiate individualised legal protections. Due to the private nature of the lender-borrower relationship these loans do not trade in secondary markets.
Collateralized Loan Obligations (CLOs)
CLOs are investment vehicles that pool multiple corporate loans and then issue securities backed by the cash flows of those loans. We invest in CLOs, because they can provide higher returns with exposure to a highly diversified credit portfolio. CLO vehicles are actively managed to reduce credit risk and have strict controls around the loan quality inside the pool.
Asset Based Lending
The investment strategy focuses on short to medium term lending to highly diversified cash generating asset pools. Due to the nature of the financing provided, cash flows tend to be front loaded, which serves as additional capital protection in times of uncertainty. Executing these unique financing solutions requires specialised structuring know-how.
What we do.
Our philosophy is to provide investors with access to the best credit investment strategies and to diversify our investors’ exposure across four credit strategies. We aim to protect capital first, then generate real returns. This combination aims to provide long-term capital appreciation. We carefully select outstanding credit managers from the world’s leading global credit investment houses who execute our investment strategies.
We always invest alongside our co-investors.
Joint Approach
Global Credit
Expertise
Data Driven
Approach
Preserving Value
Typically low correlation to traditional asset classes with focus on asset preservation throughout economic cycles
Mr Gebhard is the Co-Founder and Principal Investor for all of Tropea’s Credit Strategies. He has spent over 25 years of his career within the financial services and top tier consulting industries.
Mr Gebhard was an institutional investor and participant of the European Credit Committees for one of the largest (Eur 6bn AUM) CLO and Alternative Credit investment firms in Europe, Babson Capital Europe (now part of Barings).
In 2012, Mr Gebhard co-founded one of the largest independent asset manager platforms in Europe with a total $2bn asset base, which included Tropea Asset Management as Private Capital manager and managers for the asset classes Hedge Funds, Private Equity and Long/Short Equity across Europe and the US. As Co-CEO, Mr. Gebhard was a senior member of several of the platform’s investment committees for liquid and illiquid investment strategies. He started his career in M&A with publicly listed Colfax Corp (NYSE:ENOV) and at KPMG’s Private Equity practice in London.
Mr Gebhard holds an MBA from Cornell University, NY, USA and an MSc in Business Automation from Bamberg University.
Mr Grueter has spent more than two decades of his career within the financial services industry, the majority of it as institutional investor in the corporate and alternative credit markets.
Prior to setting up Tropea Asset Management in 2013, Mr Grueter co-founded one of the largest independent asset manager platforms, growing assets from nil to US$2bn AUM within a period of 6 years. As Co-CEO he was a senior member of the platform’s Investment Committee and acted as risk and compliance officer across the asset classes Public and Private Equity, Credit and Real estate.
From 2008 until 2010 Mr Grueter was a Credit Analyst and Partner at a US$500 mio UK based event driven credit manager, investing in European private credit opportunities. He started his career in Investment Banking with Merrill Lynch London.
Mr Grueter completed the CFA charter program and holds an MBA from Cornell University, NY, USA and a bachelor in Applied Computer Science.
English 
German