A differentiated manager. The right capital partners.

LEONID provides private credit to companies serving the U.S. government, with a focus on defense, aerospace and national security. Its strategy addresses the financing needs of businesses delivering on government contracts, drawing on a team with technical, industry and investment experience.

After the team had demonstrated its investment thesis and started building a track record, the opportunity was to connect a differentiated manager with capital partners who understood the strategy and could evaluate its place in their portfolios.

Misha helped with early closings during the manager’s first $80 million of fundraising, after its thesis was established and an initial track record was in place. The work centered on explaining the strategy clearly and identifying investors whose private-credit mandates, investment horizons and approach to underwriting aligned with the offering.

By October 2026, LEONID had surpassed $350 million in assets under management. The early fundraising stage helped broaden the manager’s base of capital partners around an established thesis and initial track record.

The relationship illustrates an important part of MVV's approach: recognize specialist managers with a clear investment proposition, then bring forward capital partners who can assess that proposition on its merits.