TwentyFour Asset Management

Investment decisions are led by the investment committee, which includes co-founder Mark Holman and head of credit David Norris (per the firm's public filings). The firm operates a team-based approach with sector specialists covering RMBS, CMBS, and CLO markets.

TwentyFour sources opportunities through deep relationships with European banks, originators, and corporate issuers. The firm has built direct sourcing channels in the primary securitization market and also participates in secondary market transactions. The private credit strategy involves direct origination from corporate borrowers.

TwentyFour is an institutional asset manager, not a family office. It was founded by credit specialists and originally structured as a partnership. Following the 2020 acquisition by Vontobel, it operates as a wholly owned subsidiary of the Swiss bank, reporting into Vontobel's asset management division.

TwentyFour focuses on the primary and secondary markets for securitized credit. It targets both new issuance (primary market) and seasoned assets (secondary market) across the capital structure, from senior tranches to mezzanine and subordinate positions. The private credit strategy targets direct lending to mid-market companies.

TwentyFour explicitly avoids corporate credit unrelated to securitized or asset-backed structures. It does not run generalist high-yield or investment-grade bond funds. The firm's discipline restricts investments to securities that offer structural protections and cash-flow transparency, typically excluding event-driven or distressed-for-control strategies.

TwentyFour was acquired by Vontobel Holding AG in September 2020 for a total consideration of £400 million (per Vontobel press release, September 2020). Since then, it has operated as an autonomous business within Vontobel's asset management division. The firm retains its brand, investment team, and investment process.