Credit Renaissance Partners, LLC, through their multi domiciled funds, invests globally on a value basis in deeply discounted corporate debt and structured asset obligations – both distressed and performing, as well as the debt of companies in Liquidation. The Funds seek to profit thereby from market inefficiencies and the asynchronicity of different credit cycles. As these positions cannot be priced from the standard exchange based third party vendors, a comprehensive set of pricing policies and procedures have been created. Quintillion and Credit Renaissance have developed in partnership a robust set of pricing policies which are designed to ensure clear lines of communication are established between all parties involved in the process and that all instruments are consistently valued in accordance with the Funds’ Offering Documents.

Quintillion’s role in the pricing policies of these funds is to independently request pricing backup on a monthly basis from over 20 separate market makers, collate the received prices and apply the pricing procedures to calculate the Market Value of these positions. The pricing policy of an individual position is dependent on a number of factors including the spread of prices between the different brokers, their value relative to par and whether the quotes are within an agreed reference spread. Quintillion also provides the month to month pricing variances; in addition to reviewing the current month’s activity to assess if there will be an impact on pricing (i.e. distributions, reorganisations, recapitalisations, etc.).

The pricing policies developed by Quintillion uses a mixture of proprietary technology with the experience of our accounting professionals to provide a tailored solution to any pricing requirement in the Funds’ Industry. As investors demand increased market value transparency, Quintillion’s process and in-depth reporting helps to provide this to the Investment Manager and shareholders.

“Since converting to Quintillion they have enhanced the valuation process by ensuring that all parties adhere to the agreed pricing policies and procedures that have been vetted by the Pricing Committee. These policies have made our month end process much more straightforward and the Quintillion team has been invaluable in ensuring that the delivery is as smooth as possible. The reporting they can provide that indicates the various price sources for a particular instrument along with an overall breakdown of the portfolios market value by source is also of great benefit to us and provides complete transparency in the monthly valuation process.”
Pauline J. Mullings, Director, Credit Renaissance Partners, LLC