TRIAXX Asset Management

TRIAXX manages collateralized loan obligations, investing primarily in broadly syndicated senior secured corporate loans. The firm structures and issues CLOs that package these loans into tranches with varying risk and return profiles, selling them to institutional investors such as insurance companies, pension funds, and asset managers. This strategy is a pure-play on corporate credit, distinct from private credit direct lending.

Richard Deitz, as President, leads the firm's investment and portfolio management activities. In boutique credit shops like TRIAXX, the senior portfolio management team typically operates with a flat structure, where credit selection, CLO structuring, and liability management decisions are centralized around the founder and a small group of senior analysts. No information on a separate CIO or investment committee structure is publicly available.

TRIAXX acquires loans through the primary syndication process run by major investment banks and the secondary loan trading market. CLO managers typically build relationships with arranging banks and leveraged finance desks to gain allocations in new-issue loans. The firm's ability to source paper depends on its scale, bank relationships, and reputation among sell-side desks — factors that increasingly favor larger managers.

Yes, indirectly. The broadly syndicated loan market is dominated by loans to private equity sponsor-backed companies. While TRIAXX invests in the loan instruments rather than making private equity commitments, its CLO portfolios are significantly exposed to the credit risk of LBO-financed companies. This means the firm is tied to private equity activity without any partnership or co-investment relationship with the sponsors themselves.

No. Despite being incorrectly classified as a family office in some databases, TRIAXX is a third-party asset manager. Its capital comes from institutional CLO note buyers — banks, insurers, pension funds — not from a single family's wealth. The firm earns management fees and performance incentives from the CLOs it manages, operating as a traditional credit manager.