Revolution adds banker

Revolution Asset Management, the private debt specialist, has expanded its investment team to six with the appointment of a portfolio manager.

Pratik Joshi joins from Bank of America where he ran an asset-backed securitisation portfolio.

Before that, he spent almost four years within the structured finance group at credit rating agency Moody's Investor Services as lead analyst and head of Moody's Analytics.

Before that, he worked at HSBC Bank Australia, L&T Infrastructure Finance Co and Yes Bank.

"We are delighted to welcome Pratik to the Revolution Asset Management team," said Revolution chief investment officer Bob Sahota.

"His extensive experience and impressive track record in private debt portfolio management and deal origination make him an ideal addition to our firm as we continue to serve our clients and expand our footprint in Australia and New Zealand."

Joshi said he was keen to put his knowledge and extensive deal experience across structured and corporate finance to work in an investment fund.

"Senior secured private debt is an exciting investment opportunity that offers investors enhanced capital stability and diversification and I look forward to being part of a trusted team committed to delivering value for our investors throughout the entire credit cycle."

As of 30 September 2023, committed capital exceeded $2.6 billion across Revolution's two private debt strategies, sourced from a blend of institutional, family office, and wholesale investors.

The Revolution Private Debt Fund II, currently open for investment, has a total fund size of $1.9 billion, delivering a portfolio yield of 10.0 per cent.

"The core sub-sectors of the Revolution private debt strategy include: leveraged buyout loans, real estate debt and asset-backed securities - these are sub-sectors of private debt that have demonstrated the ability to withstand multiple market cycles, and what we call "sleep at night credit", the firm said.

The portfolio targets an annual return of cash plus 4 to 5 per cent net of fees and aims to achieve this return with low volatility and with the benefit of having security over the underlying assets.