Polen Credit Team

Leveraged credit market inefficiencies create opportunities. Our active, high-conviction strategies aim to capitalize on them to deliver a significant, durable yield advantage.

polen capital_credit team

Expertise & Collaboration

Our experienced credit specialists take a collaborative approach to strategy and security selection, focusing on fundamental research and discerning analysis.

Location: Waltham, MA
Head of Team: David Breazzano, Head of  Team, Portfolio Manager
Average Team Member Experience: 18 years (as of 09-30-2023)

Our Investment Philosophy

Exploit Structural Inefficiencies & Mispriced Risk

Maintain Flexibility to Uncover Relative Value Opportunities

Perform Fundamental Analysis & Extensive Due Diligence

Execute Long Holding/Compounding Period 

Meet the Team



Our Strategic Approach

Credit Investment Philosophy

We strive to generate attractive risk-adjusted returns by employing a disciplined, bottom-up investment process with strict adherence to downside protection. Through rigorous due diligence with an emphasis on preserving a margin of safety, we believe that we can construct concentrated portfolios that can outperform broad high yield indices over a full credit cycle.

Credit Investment Process

1: Leveraged Credit Universe
  • 2,000+ issuers of high yield bonds, syndicated loans, and private debt
2: Sourcing
  • Secondary debt securities
  • Select primary issues
  • Originate other investment opportunities
3: First Pass
  • Classify investment thesis
  • Sound initial risk-versus-reward
  • Strong downside protection
4: Deep Dive
  • Validate investment thesis
  • Due diligence and competitive analysis
  • Compelling loan-to-value and robust legal protections
  • ESG factors evaluated
5: Portfolio Construction
  • Disciplined accumulation
  • Overweight high-confidence positions
  • Long-term investment mentality
6: Active Monitoring
  • Regularly challenge thesis
  • Adjust position weightings
  • Proactive credit management

We believe non-investment grade, middle-market companies exist in an inefficient area of the market, providing us with a source of attractive investment opportunities.

polen capital_dave breazzano
David Breazzano
Head of Team, Portfolio Manager

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Polen Capital Credit, LLC, a wholly-owned subsidiary of Polen Capital Management, LLC, is an investment adviser registered with the SEC. Please find Polen Capital Credit, LLC ‘s Form ADV linked here.

The information is provided for illustrative purposes only. Opinions and views expressed constitute the judgment of Polen Capital as of the period indicated, may involve a number of assumptions and estimates which are not guaranteed and are subject to change without update. Although the information and any opinions or views given have been obtained from or based on sources believed to be reliable, no warranty or representation is made as to their correctness, completeness, or accuracy. Opinions, estimates, forecasts, and statements of financial market trends that are based on current market conditions constitute our judgment and are subject to change without update, including any forward-looking estimates or statements which are based on certain expectations and assumptions. The views and strategies described may not be suitable for all clients. This information does not identify all the risks (direct or indirect) or other considerations which might be material to you when entering any financial transaction.

Holdings are subject to change. The holdings, as well as other data, are as of the period indicated and should not be considered as a recommendation to purchase, hold or sell any particular security. There is no assurance that any of the securities noted will remain in a portfolio at the time you review this information. Actual holding and percentage allocation in individual client portfolios may vary and are subject to change. The securities discussed do not necessarily represent the entire portfolio. It should not be assumed that any of the holdings discussed were or will prove to be profitable or that the investment recommendations or decisions we make in the future will be profitable. A list of all securities held in this portfolio in the prior year is available upon request. Past performance does not guarantee future results and profitable results cannot be guaranteed.