Destra Capital, RBC Global AM Team on New Credit Fund

Destra Capital and RBC Global Asset Management (U.S.) have formed a strategic partnership to market and distribute the RBC BlueBay Enhanced Income Fund, a new alternative credit vehicle targeting equity and junior debt tranches of collateralized loan obligations with the flexibility to invest in other structured credit securities.

The fund will be managed by RBC BlueBay’s securitized credit team, which operates across offices in the U.S. and U.K. Destra will handle distribution to financial intermediaries and wealth management platforms through its alternatives-focused distribution network.

“This partnership marks a significant step forward in delivering innovative alternative solutions to financial intermediaries and wealth management platforms,” said Donald Sanya, CEO, RBC Global Asset Management (U.S.)

The collaboration is the second alternative credit vehicle the two firms have brought to market together. In 2018, Destra launched the BlueBay Destra International Event-Driven Credit Fund with RBC BlueBay as sub-adviser — a stressed and distressed global credit strategy that has been in the market for more than eight years.

“By combining RBC GAM’s deep credit experience with Destra’s alternatives distribution platform, we are well positioned to address the evolving needs of financial advisors and their clients seeking diversified income strategies,” said Donald Sanya, CEO of RBC Global Asset Management-U.S.