Schroders launches a public-private corporate credit ELTIF
10 DEC, 2025
By Joanna Piwko from RankiaPro Europe
Schroders has introduced the Schroders Capital Semi Liquid High Income Credit, an actively managed ELTIF that provides access to a flexible and diversified strategy of public and private corporate credit.
The manager supports the launch with 100 million euros and incorporates it into its semi-liquid ELTIF structure, along with the existing vehicles of private equity, venture capital, real estate, private credit and infrastructure.
Strategy: convergence between public and private credit
The new fund selectively invests in a wide range of corporate credit, making dynamic allocations between high yield bonds in the public market, syndicated loans and direct private corporate credit. The proposal reflects the convergence of public and private credit markets into a single asset class, allowing European investors to benefit from relative value opportunities between high yield bonds, syndicated loans and European secured senior private loans.
The portfolio will allocate flows towards the most attractive risk-adjusted opportunities in real time, as market conditions evolve. By encompassing a broad and varied universe, the fund aims to offer potential for attractive and solid income generation, performance, greater diversification and alpha, leveraging the complementary characteristics of each corporate credit segment.
Liquidity, operations and management team
Given the nature of the underlying assets, the ELTIF will offer daily net asset value, will allow daily subscriptions and will contemplate monthly redemptions. The strategy will be in charge of three managers specialized in leveraged finance —Henry Craik-White, Amit Staub and Daniel Pearson— with the support of Schroders' European Credit analysis and investment team. The focus will be on the bottom-up identification of relative value opportunities.
Public and private corporate financing is increasingly converging, as more and more companies are leveraging the flexibility of financing to improve the efficiency of their balance sheets. Currently, there are three reliable financing options for many European companies: private loans, syndicated loans, and bonds. In fact, from the companies' point of view, these options are interchangeable, depending on financing needs and market conditions. Companies take advantage of any mismatch in the cost of financing between these three credit formats, and we believe that investors should have the same opportunity.
Henry Craik-White, main fund manager at Schroders
This fund is an exciting and innovative new ELTIF that breaks with convention by bringing together public and private corporate credit into a single credit strategy, managed holistically by an integrated team. It offers clients the prospect of very attractive income and returns, in addition to the potential of active management to generate alpha and, with it, the possibility of exceeding expectations. Our market-leading credit team is characterized by the pursuit of high alpha, and this principle is the same, whether we invest in direct corporate loans or bonds.
Patrick Vogel, head of European Credit at Schroders
