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Invesco Senior Secured Management
Invesco Senior Secured Management—the direct lending arm inside $1.5T+ publicly traded Invesco—writes first-lien loans to PE-backed middle-market...
Invesco Senior Secured Management
Invesco Senior Secured Management operates as the direct lending engine within Invesco Ltd., the Atlanta-headquartered global investment manager. The group focuses on originating, structuring, and managing senior secured loans to middle-market companies across North America and Europe, typically acting as lead arranger or co-lead on facilities ranging from $25 million to $150 million. The platform sits inside Invesco's broader global credit business, which spans liquid bank loans, high yield, structured credit, and private credit strategies. Investment activity centers on first-lien, floating-rate loans to businesses with $5 million to $50 million in EBITDA, usually in sponsor-backed transactions. Sectors the team regularly underwrites include software, healthcare services, industrial technology, and business services. Representative portfolio names disclosed through performance materials and industry trackers include club-deal participation alongside lenders such as Audax, Golub Capital, and Antares. Geographic emphasis tilts toward US-headquartered borrowers, though the team has capacity for UK and Western European credits through Invesco's London credit desk. The firm participates both in bilateral originations and multi-lender broadly syndicated club deals, depending on scale. As a captive unit of Invesco, the team draws on centralized risk, legal, and distribution infrastructure unavailable to most independent direct lenders. Invesco Senior Secured Management sources permanent capital through Invesco's balance sheet and private credit interval fund and BDC vehicles, notably the Invesco Senior Income Trust, a publicly listed closed-end fund. As of early 2023, Invesco's private credit platform reported over $48 billion in committed senior secured loan origination volume across its history. The platform added European direct lending capabilities through structured partnerships and internal credit hires, with dual headquarters supporting New York and London investment teams. Structurally, the unit is a daughter entity inside a publicly traded asset manager — a configuration that blends the mandate discipline of a dedicated direct lender with the liquidity and compliance framework required by a $1.5 trillion-plus parent. This hybrid model shapes every investment decision: Hartviksen's team can hold assets on balance sheet or distribute into Invesco's fund vehicles, creating a dual disposal channel that independent lenders lack. The trade-off is public-market earnings scrutiny, which pressures origination pacing and credit-quality discipline year-over-year.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Jennifer Hartviksen
Head of Global Credit
Sector focus
Frequently asked questions
Who runs investment decisions at Invesco Senior Secured Management?
The unit falls under Invesco's Global Credit platform, led by Jennifer Hartviksen, who was named Head of Global Credit in early 2024. She oversees investment strategy across private credit, senior secured loans, and liquid bank loan funds. Individual deal decisions are made by dedicated senior underwriters and portfolio managers on the direct lending desk, subject to Invesco's internal investment committee process.
How is Invesco Senior Secured Management structured relative to its parent, Invesco Ltd.?
It operates as a wholly owned subsidiary and distinct investment arm within Invesco Ltd., not a separate legal entity. This captive structure gives it access to Invesco's balance sheet, centralized risk management, and retail distribution channels, including the Invesco Senior Income Trust BDC. The trade-off is that it must operate within a publicly traded firm's compliance and quarterly earnings framework.
Does Invesco Senior Secured Management invest through fund commitments or only direct deals?
The group originates and underwrites direct senior secured loans, primarily as lead arranger or co-lead. It does not operate as a fund-of-funds allocating to external direct lenders. Capital is deployed through Invesco's proprietary private credit funds, interval funds, and publicly traded vehicles like the Invesco Senior Income Trust.
What size and type of loans does Invesco Senior Secured Management underwrite?
The team targets first-lien, floating-rate loans typically ranging from $25 million to $150 million in facility size. Borrowers are generally private equity-backed middle-market companies with $5 million to $50 million in EBITDA. The group focuses on sponsor-backed transactions and can participate in both bilateral originations and broadly syndicated club deals.
Which sectors does the senior secured team underwrite, and which does it avoid?
Active sector coverage includes software, healthcare services, industrial technology, and business services. As a secured lender, the team generally avoids deeply cyclical commodity-exposed industries, pre-revenue biotech, and high-litigation-risk sectors where collateral quality is harder to underwrite. The emphasis remains on cash-flow-generating businesses with tangible asset coverage.
What is Invesco Senior Secured Management's geographic lending footprint?
Origination is concentrated in North America, with a primary focus on US-headquartered borrowers. The group also has lending capacity in Western Europe through Invesco's London credit desk, targeting UK and select continental borrowers. The European capability was expanded through internal credit hires and structured partnerships.
Is Invesco Senior Secured Management's capital considered permanent or fund-life constrained?
The platform benefits from multiple capital sources: Invesco's corporate balance sheet, permanent-capital vehicles like the Invesco Senior Income Trust, and traditional drawdown private credit funds. The mix of permanent and fund-life capital provides flexibility to hold assets longer than independent sponsors might, while still satisfying the liquidity requirements of publicly traded vehicles.
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