Canyon Partners

Canyon Partners is a leading alternative asset manager providing investment advice to institutional clients and high-net-worth individuals globally. Canyon is a multi-strategy, credit-focused, value-oriented firm that invests across a variety of asset classes, including bank debt, high yield, distressed and special situation securities, securitized assets, equities, convertible arbitrage, risk arbitrage, and real estate. Founded in 1990, Canyon Partners, LLC is an investment management firm headquartered in Los Angeles which, together with its affiliates, manages approximately USD 25 billion of assets. Canyon applies a fundamental, value-oriented investment approach across a broad spectrum of asset classes, including corporate credit, equities, and securitized products. They focus their investments on securities characterized by complexity, transitioning buyer bases, events, restructurings, and other forms of disruption that can disconnect prices from fundamental value. Canyon Partners Real Estate LLC® is the real estate direct investing arm of Canyon. Over the fifteen years, Canyon has invested more than $7.5 billion of debt and equity capital across 264 transactions capitalizing approximately $26.4 billion of real estate assets, focusing on debt, value add, and opportunistic strategies. With 30+ years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions, and project stages (including development, transitional, and distressed/workouts). The CPRE investment and in-house asset management team have developed a skill set that allows for a wide menu of options across property types and investment strategies, including transitional lending, construction financing, loan acquisitions in the secondary market, and securities purchases. CPRE expects to identify these situations primarily within the top 25-40 markets in the US, focusing on areas that have been beneficiaries of demographic shifts with strong job growth. CPRE believes that there is a persistent, structural opportunity for the Fund to generate attractive risk-adjusted returns in these structured debt investments while retaining significant equity subordination.