The COVID-19 pandemic has necessitated unprecedented changes across society and the global economy. It remains to be seen how many of these changes will “stick” in a post-COVID world though certain trends which were already underway, and were able to thrive during the...
Distressed Municipal Bond Strategy
The Principal Street Partners Distressed Municipal Bond Opportunity Strategy applies a distressed investment strategy in the municipal credit market. The objective of the strategy is long-term capital appreciation with a tax-free income component. The strategy primarily acquires bonds in smaller sizes or odd-lots to ensure the best pricing for limited partners, builds positions over time and sells when pricing has improved. The resulting portfolio is diversified across credits, geographies and types of municipal credit as well as uncorrelated to other asset classes.
We seek out the best opportunities based on upside potential and market misperception across sectors, including:
- MULTI-FAMILY HOUSING
- ECONOMIC DEVELOPMENT AUTHORITY BONDS
- STUDENT HOUSING REVENUE BONDS
- ASSISTED LIVING FACILITY REVENUE BONDS
- HOSPITAL BONDS
- GENERAL OBLIGATION BONDS/DISTRESSED MONOLINE INSURANCE COMPANIES
FOCUSED ON SPECIAL SITUATIONS, SMALL UNDISCOVERED BOND ISSUES
EXPERIENCED MUNICIPAL BOND TRADER AND ANALYST
DISTRESSED MUNICIPAL MARKET
NO LEVERAGE
TAX EFFICIENT
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