• Pender Credit Opportunities Fund

    The opportunity for outperformance in stressed and distressed credit

The Pender Credit Opportunities Fund is a limited partnership fund focused on deeply discounted stressed and distressed small and middle marketing public credit issuers.

  • We believe outperformance opportunities exist due to high capital scarcity, less competition from other capital providers and our ability to engage in proactive credit management.
  • We have consistently invested in stressed and distressed credits since 2015, with a specialized skill set and process that have proven resilient across a range of marketing environments. 

Meet the Managers

Parul Garg, MBA

  • Deploying the strategy since 2015 across our $1.5 billion credit mandate
  • Experience in defaulted securities re-org and recapitalizations
  • Over 10 years of experience
  • Undergraduate in engineering, post-graduate MBA

Geoff Castle, MBA

  • Lead Portfolio Manager in $1.5 billion credit mandate
  • Deploying the strategy since 2015; multiple successful defaulted bond investments
  • Cross capital structure expertise; corporate, board and consultancy experience
  • Lipper award winning manager of the Pender Corporate Bond Fund in 2018, 2019


Meet Parul Garg

February 2024

What is the Pender Credit Opportunities Fund?

February 2024

Why Invest in Distressed Credit?

Why Choose the Pender Credit Opportunities Fund?

Pender Credit Opportunities Fund Investment Process


  • PCOF II Exec Summary

    Executive Summary

    Pender Credit Opportunities Fund II

    April 2024
  • PenderFund 12 Days of Investing - Growing Capital


    Distressed Debt:
    Which Sectors Offer Value?

    June 28, 2023
  • Article

    Stressed and Distressed Credit:
    Risk and Reward

    June 21, 2023
  • Article

    Opportunity, Set, Match:
    The art and science of distressed credit investing

    June 20, 2023
  • Article

    Why distressed debt is an ‘all-weather’ investment strategy

    June 11, 2023

    Client Service Team

    Vice President, Institutional Sales & Service

    Sarah Wildman

    Director, Institutional Sales

    Ronnie Aggarwal


    The Pender Credit Opportunities Fund II (PCOF II) is a separate and distinct fund from the Pender Corporate Bond Fund (PCBF) and Pender Credit Opportunities Fund I (PCOF I) and results of the PCBF and PCOF I are not indicative of the performance of the PCOF II.
    The Pender Credit Opportunities Fund II is a private, limited partnership fund and only available to Accredited Investors who meet certain criteria.