Approach
Key Benefits
- Team and Platform: 40+ real estate professionals, part of broader Voya Fixed Income platform that provides deep macro, credit, and securitization market insights, manage over $12 billion of portfolios consisting of over 1,100 loans and 1,800 properties
- Risk-Adjusted Return Potential: Consistent, large scale market presence creates substantial flow of attractive core, core plus and opportunistic deals
- Tailored Approach: Ability to co-invest with affiliated Voya Financial entities, customize portfolio based on individual client needs such as duration, credit risk, leverage, and capital. For insurers, we have a deep understanding of industry-specific needs including ancillary support requirements
Performance
Performance
| As of 3/31/19 | 1 Month | 3 Month | YTD | 1yr | 3yr | 5yr | 10yr | Since Inception (1/01/00) |
|---|---|---|---|---|---|---|---|---|
| Composite Gross | 1.78 | 2.25 | 2.25 | 7.27 | 4.28 | 5.38 | 6.27 | 6.44 |
| Composite Net | 1.76 | 2.19 | 2.19 | 7.02 | 4.03 | 5.13 | 6.02 | 6.19 |
| Index* | 2.33 | 4.70 | 4.70 | 4.78 | 2.90 | 3.55 | 6.25 | 5.47 |
| Gross Excess Return | -0.55 | -2.45 | -2.45 | 2.50 | 1.38 | 1.83 | 0.02 | 0.96 |
* Bloomberg Barclays U.S. Corporate A Index
Past performance does not guarantee future results.
Periods greater than one year are annualized. Performance data is considered final unless indicated as preliminary. Monthly performance is based on full GIPS Composite returns. Access the GIPS page for full composite details.
The Composite performance information represents the investment results of a group of fully discretionary accounts managed with the investment objective of outperforming the benchmark. Information is subject to change at any time. Gross returns are presented after all transaction costs, but before management fees. Returns include the reinvestment of income. Net performance is shown after the deduction of a model management fee equal to the highest fee charged.
Literature
Commercial Real Estate Marco Market Update
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Fixed Income Capabilities Guide
Voya exploits alpha opportunities across the fixed income spectrum, with differentiated capabilities beyond traditional sectors.
Approved For: Qualified Institutional Investor Use Only
Voya Commercial Mortgage Loans Strategy Brief
Q1 2019
Includes Investment Commentary
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Expanding Fixed Income Menus in DC Plans
In DC plans, fixed income investment options often lack diversity. Expanding fund lineups to include a wider range of fixed income strategies could potentially help investors increase risk-adjusted returns.
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Commercial Mortgage Loans: Market Overview and Analysis
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Investment Team
Gregory Michaud
Head of Real Estate Finance
Years of Experience: 24
Gregory Michaud is head of real estate finance for Voya Investment Management, responsible for the oversight and management of sourcing and underwriting all commercial real estate loans. Additionally, he serves on the executive leadership team for proprietary assets, the U.S. Credit Committee and chairs the CMBS Steering Committee. Prior to joining the firm, Greg was a real estate appraiser focused on commercial properties and eminent domain cases in the southeastern U.S. Greg is an active member of several distinguished real estate industry groups, including the Urban Land Institute, Commercial Real Estate Finance Council, Mortgage Bankers Association and the National Association of Real Estate Investment Managers. Greg received a BS in real estate from Florida State University, an MBA in finance from Kennesaw State University and an Executive MBA from the University of Georgia.
Christopher Gorman
Head of Real Estate Portfolio Management
Years of Experience: 4
Chris Gorman is head of real estate portfolio management and is responsible for managing all commercial mortgage client portfolios including affiliate and third party managed accounts. Prior to joining Voya Investment Management, he was a senior vice president and partner at H/2 Capital Partners managing several aspects of the firm’s business as well as the execution and surveillance of commercial real estate credit investments. Previously, Chris was a vice president for AIG’s Global Investment Group underwriting real estate corporate credit investments. Prior to AIG, Chris was a director and credit analyst in MetLife’s global credit research and real estate capital markets group focused on commercial real estate debt opportunities. Chris received a BA in economics from Boston College and an MBA from the Leonard N. Stern School of Business at New York University.