An asset manager of credit strategies across the traded credit universe — anchored in rigorous process, deep experience, and long-term investor partnerships.
About Us
Garnet Credit Management is a specialist credit manager founded in 2024 by CEO & CIO Robert Steelman and backed by Elliott Investment Management. We operate as an independent portfolio company, combining institutional discipline with the focus and conviction of a dedicated credit platform. Our senior team averages 20+ years of credit investing experience, each having held senior roles at some of the world’s largest credit manager institutions, bringing that pedigree to bear across U.S. syndicated loans and high yield bonds.
We believe that as an independent Elliott portfolio company, Garnet is supported by a durable capital foundation that underpins purpose-built operational infrastructure and the talent and institutional-grade resources to pursue opportunities with conviction and at scale.
Earned through transparency and honesty — in every market, every cycle.
One standard. Every client. No exceptions.
Top-tier performance means nothing without the integrity to back it.
Our Team
Garnet values its members for their collective contributions to the firm's success. Our goal is to hire for deep experience, exceptional talent, and a collaborative mindset.
We believe a strong reputation is forged over time and maintained through consistent integrity, transparency, and performance.
We pursue our investors’ goals with intellectual rigor and no room for ego. Every strategy is grounded in clear, evidence-based reasoning about why we believe it will deliver.
Mr. Steelman brings over 30 years of credit investing experience across leveraged loans, high yield bonds, and structured credit. He was a founding member of AGL Credit Management in 2018 where he served as Co-Head of Portfolio Management and Head of Restructuring until his departure in 2024. Prior to AGL, Mr. Steelman spent 12 years at CIFC (2006–2018) as a Managing Director, Senior Investment Analyst, and Portfolio Manager. He was also a member of the Investment Committee and led investments across CLOs, leveraged loan funds, and long/short credit hedge fund strategies. Earlier in his career, he held the role of Global Portfolio Manager at ABN AMRO Securities (2003–2006) and prior positions at Janney Montgomery Scott and J.P. Morgan Chase.
Our Business & Capabilities
We believe clients choose Garnet Credit for our investment professionals’ demonstrated credit experience and our ability to act with speed and precision, whether expressing conviction or managing risk. Our senior investment team are veteran credit specialists drawn from some of the world’s largest credit managers.
Our focus is on US liquid credit where we capitalize on deep market relationships, systematic credit analysis, and active portfolio management seeking to deliver consistent, risk-adjusted returns to our investors.
Today, our strategies span: broadly syndicated loans, high yield bonds, and alternative credit.
Garnet’s investment committee averages 20+ years of credit investing experience, with every senior professional actively contributing to decision-making.
We believe our focused scale allows us to express investment theses and move risk with speed and precision that larger platforms cannot match.
At large institutions, attractive opportunities are often scarce relative to the capital that needs to be deployed. At Garnet Credit, our focused strategies mean quality ideas can be allocated efficiently across our pools of capital, with no pressure to fill.
Investment Philosophy & Process
Garnet’s investment process is built on rigorous credit underwriting and disciplined portfolio construction, guided by a single objective: capital preservation and consistent risk-adjusted returns. Each mandate begins with a clear definition of success — and every decision is made in service of it.
Our all-weather approach prioritizes scalable credit opportunities. We focus on large, liquid borrowers with clean credit profiles, apply tactical industry sizing, and maintain the flexibility to actively reposition across cycles, not just within them.
A central principle of our approach is that risk management and portfolio management are not separated. Every team member owns it, spanning credit, operational, regulatory, and other dimensions of risk, at every stage of the investment lifecycle.
Our process is systematic and high-conviction. A rigorous multi-stage gate system filters a broad investment universe down to a concentrated set of approved credits. These are companies with predictably recurring free cash flow and appropriate capital structures.
Leverage macro trends and sector-specific insights to identify high-potential investment opportunities. Align priorities with market conditions and focus on sectors with cyclical or structural tailwinds.
Conduct in-depth analysis on fundamentals, market positioning, and business outlook. Sharp focus on business and capital structure downside risks, with capital preservation paramount. ESG factors considered.
Diversify portfolios across industries, geographies, and risk levels. Apply strategic asset allocation that seeks to maximize returns while managing volatility. Incorporate analytics and scenario modeling for the purposes of optimizing portfolio resilience.
Unanimous Investment Committee approval on all purchases, with the CIO holding the overriding vote only if consensus cannot be reached. All IC members are collectively accountable.
We constantly assess relative value across the capital structure, peer set, and industry — continuously repricing risk as conditions evolve.
Benchmark performance continuously, leverage real-time data to surface risks and opportunities, and exit with discipline, guided by secondary market signals and updated fundamentals.
Contact
Important Disclosures: This website is provided by Garnet Credit Management LLC (“Garnet”) for informational purposes only and is intended solely for institutional investors and other sophisticated parties. It does not constitute an offer to sell, or a solicitation of an offer to buy, any securities or investments or an offer of investment advisory services. AUM figures and other data presented on this site are as of March 31, 2026 unless otherwise indicated. Garnet’s investment process and infrastructure are independent from Elliot Investment Management L.P. and its affiliated management companies.
Past performance is not a guarantee of future results. Inherent in any investment is the risk of loss, and there can be no assurance that any investment strategy will achieve its objectives. All descriptions of Garnet’s investment or operational framework or methodology are simplified summaries of complex processes presented for illustrative purposes. Actual processes utilized by Garnet at any time may vary materially from these summaries.
All information and content on this website is furnished “AS IS,” without warranty of any kind, expressed or implied, and is subject to change without notice. Garnet does not assume any liability for any loss or damage of any kind directly or indirectly caused by the use of any part of the information provided. Garnet does not warrant that the content is accurate, reliable or correct; that the website will be available at any particular time or location; that any defects or errors will be corrected; that unauthorized access to or misappropriation of the content will not occur; or that the content is free of viruses or other harmful components. Your use of this website is solely at your risk.
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