Peritus Asset Management is an employee owned, SEC registered, investment advisor headquartered in Santa Barbara, California. Founders Tim Gramatovich and Ron Heller began their partnership in 1995. Peritus is a value-based, corporate credit investor providing discretionary investment management services to both institutional and retail investors.
We believe that the high yield, or non-investment grade, bond and loan markets are inefficient and lend themselves to active management. With many institutional investors remaining captive by the ratings process, their ability to include non-investment grade securities in a fixed income portfolio can be severely restricted, which can create opportunities for active credit managers such as Peritus. One of the key differentiators for our firm is that we view the bond and loan markets as extensions of the equity markets, and as such, put thorough fundamental and valuation analysis at the core of our investment process. We focus on investing in companies and industries—not based on ratings, duration, maturity, tranche size, or subordination.
We have an experienced portfolio management team, with our core members having on average approximately 20 years each of experience in managing high yield corporate debt.