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Quadrant Super awards Babson $15 million mandate
Quadrant Super has awarded a $15 million global bank loan mandate to Babson Capital.
The mandate will consist of quality floating debt, and will be part of the fund's fixed interest allocation, according to Quadrant Super chief executive Wayne Davy.
The sovereign debt situations in the Eurozone and the US had created an unusual situation that Quadrant was looking to take advantage of, Davy said.
"In Europe and the US corporations are starved for capital because of what credit markets are doing, so there's a real opportunity to invest … you're really replacing what the banks are doing," Davy said.
Babson Capital was a manager that lent to high-quality corporates at the senior end of the debt structure, he added.
Good quality bank loans can give members 'equity-like' returns with a fixed-interest risk profile, Davy said.
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