Alternative Credit
Delivering flexible debt capital solutions in asset-backed specialty finance as an experienced private credit manager
By the numbers
transactions completed1
in total commitments1
years of specialized expertise1
“We leverage our experience and embrace learning — a mindset that we believe delivers optimal solutions for partner companies.”
Mesirow Alternative Credit and GMO Payment Gateway announce strategic partnership
This collaboration reflects a shared commitment to innovation in asset-backed specialty financeand enhances the MAC team’s ability to deliver comprehensive solutions to specialty finance companies across key markets.
Competitive advantages
Longevity
Established presence in the lower middle market, where inefficiencies create opportunities for compelling risk-adjusted returns. Tested management team over many credit cycles.
Focus
Highly customized, complex financial solutions which enhance growth opportunities and create barriers to entry.
Discipline
Focus on risk management and downside protection permeates the investment process from origination through realization, leading to attractive long-term result potential.
Creating value for our clients
Ideal investment characteristics
Diversified: Asset-backed loan portfolio targeting 20-30 companies secured by small balance consumer and small business loans and other financial contracts that have significant complexity premiums
Granular: Collateral pools backing investments have 1,000s to over 1,000,000 contracts per pool, analyzed on a statistical basis before and during the investment period
Short duration: Short duration collateral allows for real-time updates to changing macroeconomic conditions.
Self liquidating: Portfolios are self liquidating where the collateral generates cash flow in normal course as well as in adverse scenarios.
Where we operate
Focusing on smaller, technology-enabled lenders provides ample and growing demand from companies that cannot access the public securitization markets.
We target smaller deal sizes within specialty finance, which our experience shows offers better pricing and structuring flexibility than available in the larger transactions
The size of the deals facilitates our positioning, enabling us to grow alongside our portfolio companies. We help our portfolio companies with our vast capital markets expertise and industry insights.
How we operate
We begin from a position of deep credit underwriting and rigorous financial analysis.
We carefully structure credit agreements with bespoke company and collateral-specific covenants. These provide “early warning” indicators that facilitate quick reactions to changing credit conditions.
We continuously monitor our investments, analyzing outcomes and effectiveness of our lending structures on borrowers and our fund performance.
Key benefits
Established track record of strong returns: For more than a decade, the team has delivered consistent double-digit annualized net returns.
Targeting an overlooked market: The strategy focuses on lower middle-market specialty finance companies—segments often missed by traditional lenders and large credit funds.
Differentiated sourcing advantage: With a strong reputation as a trusted capital partner, the team gains early access to high-quality, off-market opportunities.
Disciplined underwriting and risk management: Investments undergo rigorous diligence and ongoing monitoring, supported by real-time portfolio data and structured collateral controls.
Engagement
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