Liquid Complements to Private Credit: A Three-part Series (Part 2)
Part 2: The Private Credit Premium is Real. The Performance Drag of Leverage? Also, Real. Net Return From Leverage in Private Credit Strategies
Customized Investment Solutions
We innovate and deliver for
world-leading organizations.
world-leading organizations.
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Alignment
Being 100% employee-owned, we can afford to focus on our clients' long-term success, building trusted, enduring relationships.
Innovation
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Our long-tenured senior management team brings perspective and unique insights to clients' complicated challenges.
Customization
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We work alongside our clients creating custom solutions with a risk-controlled approach that differentiates our client relationships.
Perspectives from
Our Thought Leaders
The Warsh-ington Consensus
After much public deliberation, President Trump announced Kevin Warsh as his nominee to succeed Jerome Powell and become the 17th Chairman of the Federal
Clearing Hurdles Without Jumping: The Cost of Low Benchmarks
Hedge funds often use hurdle rates that are low—and often zero—to measure portfolio performance. Moreover, returns above these hurdle rates incur performance fees that
NISA by the Numbers
31 yrs
as an institutional asset manager
$470b
under management
400+
employees
$298 billion in physical assets + $172 billion in derivatives notional value as of 12/31/2025.
Our APPROACH
“We’ve always aimed to do things a little differently.
We are a 100% employee-owned firm,
operating as a genuine solutions provider
and extension of staff
for world-leading asset owners.”
David G. Eichhorn, CFA
Chief Executive Officer and Head of Investment Strategies
Recognition of Quality Leadership is Ongoing!
NISA was named a 2025 Best Asset Manager for Institutional Investors in the United States by Crisil Coalition Greenwich, part of Crisil Ltd., a company of S&P Global, recognizing asset managers who stand out by delivering exceptional client service and helping institutional investors achieve their goals.
The award was announced on December 18, 2025.
Crisil Coalition Greenwich named NISA one of two recipients of the Best Asset Manager award for Institutional Investors in the United States on December 18, 2025. In 2025, Crisil Coalition Greenwich renamed the award from “Quality Leader” to “Best Asset Manager.” NISA paid a standard fee to access the full set of data published by Crisil Coalition Greenwich and for use of the Best Asset Manager logo. Rankings do not represent any one client’s experience because they reflect an average of experiences of clients who chose to participate. Full methodology and past results are available at www.greenwich.com.
The award was announced on December 18, 2025.
Crisil Coalition Greenwich named NISA one of two recipients of the Best Asset Manager award for Institutional Investors in the United States on December 18, 2025. In 2025, Crisil Coalition Greenwich renamed the award from “Quality Leader” to “Best Asset Manager.” NISA paid a standard fee to access the full set of data published by Crisil Coalition Greenwich and for use of the Best Asset Manager logo. Rankings do not represent any one client’s experience because they reflect an average of experiences of clients who chose to participate. Full methodology and past results are available at www.greenwich.com.
Our People are
Our Most Valuable Asset
NISA’s culture fosters personal and professional growth with access to both experience and expertise. See if a career at NISA is right for you.