Loomis, Sayles & Company, an affiliate of Natixis Investment Managers, today announced the launch of the Loomis Sayles Private Credit Group along with the hiring of Chris Gudmastad, CFA, who will lead this effort as head of private credit. Myles Reinecke, CFA, also joins as senior private credit analyst.
Last month, Carey Cherner, a 36-year-old used car dealer in Kensington, Maryland, sold a 2001 Ford F-150 pickup truck in less than 12 hours. The mileage is 184,000 miles. It sells for $7,500-50% higher than usual.
Cherner’s experience is not one-off in the US used car market, where prices are rising rapidly. The industry is at the core of the country’s growing inflationary pressures and has therefore become a subject of great interest to policymakers in Washington.
“There are more people buying cars than there are cars on the market, which makes it a little crazy,” Cerner said.
Unusually, officials pay close attention to used car prices as an indicator of future inflation paths. If price increases become entrenched and spread to other parts of the economy, the United States may face prolonged overheating for the first time in decades. Presented a big challenge Economic decision makers at the Federal Reserve and Joe Biden.
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Statewide Super has announced it has awarded $180 million US asset-backed securities mandate to Natixis Investment Managers’ affiliate, Loomis, Sayles and Company.
Under the terms of the deal, members of the $10.8 billion superannuation fund would have access to the strategy that was specifically built to reflect the current, low rate, environment.
“We are so pleased to manage this mandate for Statewide Super, and believe that Loomis Sayles’ proven expertise in securitized credit investing is an excellent fit for their investment needs. We look forward to a long and productive partnership between Statewide Super, Loomis Sayles and Natixis Investment Managers,” Alessandro Pagani, head of the mortgage and structured finance team at Loomis Sayles said.