Seeks a high level of current income by investing primarily in floating rate loans and other floating rate investments while diversifying across industries and issuers. Preservation of capital stands and satisfaction of credit and valuation criteria comes before incremental yield.
The Global Developed Credit team seeks investments with the potential for outperformance based on credit fundamentals and does not sacrifice this quality to chase yield. This disciplined, patient approach historically has delivered competitive returns within strict credit quality and liquidity constraints. Preservation of capital stands as the prerequisite to maximization of total return. This means that satisfaction of credit and valuation criteria comes before considering the incremental yield of a prospective security. Pursuit of total return is guided by the following principles:
The team utilizes a bottom-up approach to credit analysis encompassing individual issuer credit metrics in conjunction with economic and industry trends. Credit analysts and traders work closely together to value issues based upon credit fundamentals , relative value and market conditions. In this process, credit quality, value and yield spread form an integrated whole.
Mr. Cohen joined DoubleLine in 2012 and serves as Director of Global Developed Credit. In this role, he oversees the firm’s corporate credit team and is the lead portfolio manager for investment grade, high yield and leveraged loan credit strategies. Mr. Cohen also developed DoubleLine’s leveraged finance investment platform, which is utilized across closed-end fund, floating-rate, CLO and multi-sector fixed-income strategies. In addition, he is a permanent member of the Fixed Income Asset Allocation Committee. Mr. Cohen has over 30 years of experience in corporate credit investing. Prior to joining DoubleLine, he held investment roles at West Gate Horizons Advisors, ING Capital Advisors, Union Bank and Bank of Montreal. Mr. Cohen holds a B.A. in Economics from the University of Arizona and an MBA from the University of Southern California. He is a CFA® charterholder.
Mr. Kenney joined DoubleLine in 2013 on the Global Developed Credit team and has been a Portfolio Manager since 2018. Prior to DoubleLine, he worked at Crescent Capital where he was a Vice President with a focus on high yield bonds and leveraged loans. Mr. Kenney began his career at Nomura Corporate Research and Asset Management where he was also a Vice President. Mr. Kenney holds a B.A. in History, cum laude from Yale University and is a CFA® charterholder.
