Schroders Capital unveils Global Debt and Credit business

PRESS RELEASE - 23 October 2023

Schroders Capital today unveils its Global Debt and Credit business amid growing interest from investors to harness these diverse asset classes.

The newly-formed Private Debt and Credit Alternatives (PDCA) business will comprise Real Asset Debt, Structured & Corporate Credit, Specialty Finance and Impact Lending ​ and serve as a robust growth engine for Schroders Capital. The new business unit will initially oversee US$30bn in assets under management with more than 100 investment professionals.

The PDCA will be led by Michelle Russell-Dowe and Stephan Ruoff as Co-Heads, reporting into Georg Wunderlin, Global Head of Private Assets. Based in the US, Michelle and Stephan will also continue their responsibilities as Global Head of Securitised Product & Asset-Based Finance and Global Head of Insurance-Linked Securities (ILS), respectively.

Schroders Capital has evolved its debt business over recent years through strategic acquisitions and now boasts a broad suite of product offerings and a strong growth and performance track record.

By merging strategies onto a shared platform, the PDCA will offer increased investment flexibility by allocating capital to the most promising ideas across the global debt space. Investors can benefit from a broader range of accessible products which present attractive investment opportunities and robust return profiles, as well as enhanced product development and communication between Schroders Capital’s specialist investment teams.

This new platform will also enable Schroders Capital to communicate its macroeconomic views more effectively, align opportunities across the platform, whilst also further strengthening distribution and risk management. 

Co-heads of PDCA, Schroders Capital, Michelle Russell-Dowe and Stephan Ruoff, said:
​“Investors are having to navigate an ever-evolving, often volatile market environment and they need dynamic and flexible solutions to navigate market conditions that are unfamiliar to many. We are witnessing structural changes that have resulted in higher interest rates. ​
​“With this backdrop, there is a heightened focus on debt and credit. The creation of our PDCA platform allows us to provide clients with flexible solutions at a critical time whilst enhancing our perspective and improving our ability to manage change as we focus on delivering innovative dynamic solutions which will meet the challenges of today and tomorrow. ​
​“The combined expertise and streamlined approach will create a process and perspective that allows greater alignment to our clients’ needs and provides our partners with a broader array of investment options. Combining these crucial investment areas allows for better return profiles and a flexible approach to navigate these rapidly changing opportunity sets alongside core and strategic attractive investments.
​“Given the global regime change, which we describe as the ‘3D Reset’ spanning deglobalisation, decarbonsiation and demographics, resulting in a historical income opportunity, this is the right time to accelerate our growing debt and credit business.”
Georg Wunderlin, Global Head of Private Assets, Schroders Capital, said: ​
​“Schroders Capital has evolved to what is now a global and trusted solutions provider in private markets for our clients. We only see the momentum behind its growth continuing, with a clear appetite from investors to capture the diversification and returns that private assets can offer. ​
​“Global macroeconomics combined with the credit cycle are providing strong tailwinds particularly for debt and credit strategies. The private debt total market is estimated at ~$23 trillion, but only ~6% is currently served by private credit managers, leaving plenty of room for growth. ​
​“We are excited to bring together our alternative credit businesses into one leading platform at such an opportune time. This will allow us to provide a wide range of flexible financing solutions to the market and a rich set of investment opportunities to our clients.”

Media contact

Wim Heirbaut

Press and media relations, BeFirm

Schroders Capital

Schroders Capital provides investors with access to a broad range of private asset investment opportunities, portfolio building blocks and customised private asset strategies. Its team focuses on delivering best-in-class, risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions in all private market asset classes, through comingled funds and customised private asset mandates.

The team aims to achieve sustainable returns through a rigorous approach and in alignment with a culture characterised by performance, collaboration and integrity. ​

With €79.5 billion* assets under management, Schroders Capital offers a diversified range of investment strategies, including real estate, private equity, secondaries, venture capital, infrastructure, securitised products and asset-based finance, private debt, insurance-linked securities and BlueOrchard (Impact Specialists).

*Assets under management as at 30 June 2023 (including non-fee earning dry powder and in-house cross holdings)

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Schroders plc

Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £776.6 billion (€906.6 billion; $1064.2 billion) of assets under management at 30 June 2025. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 5,800 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Principal Shareholder Group continues to be a significant shareholder, holding approximately 44% of the issued share capital.

Schroders' success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.

Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.

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