Goldman Sachs’ Aakash Thombre on multi-asset credit strategies
INTERVIEWSERIES
Aakash Thombre, Managing Director, Goldman Sachs Asset Management
November 2025
In this exclusive interview, Aakash explains why identifying macro regimes is essential for multi-asset credit investors and how to navigate a tight spread environment in search of returns, without stretching for yield or compromising credit standards. He shares his views on where AI could have the greatest impact on global credit investors, the vulnerabilities global credit investors may be exposed to and what they should do about them, including when to pay for downside protection.
Watch the full interview which covers:
00:19 - Does identifying the macro regime matter for the multi-asset credit investor?
01:15 - How should an investor think about seeking returns without stretching for yield and compromising credit standards in an environment where spreads are tight?
02:25 - Where might AI have the biggest impact for global multi asset credit investors?
04:04 - Should an investor pay for downside protection (i.e. a tail risk hedge)?
05:49 - What are some of the main vulnerabilities global credit investors may be exposed to, and what should they do about them?
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Aakash Thombre, Managing Director, Goldman Sachs Asset Management
Aakash is a managing director in Fixed Income and Liquidity Solutions within Goldman Sachs Asset Management, serving as global head of High Yield and Bank Loans. He serves as the portfolio manager for credit funds that span high yield, bank loan, emerging markets and securitized credit asset classes.
Previously, Aakash was a senior emerging markets corporate debt investor from 2011 to 2019. Before that, he worked in the Multi-Asset Solutions Group from 2009 to 2011, focusing on the development and structuring of alternative risk premium strategies. Aakash joined Goldman Sachs in 2007 as an analyst in the Alternative Investments and Manager Selection Group, working on public and private investments. He was named managing director in 2021.
Aakash earned a BS in Operations Research from Columbia University in 2007. He is a CFA charterholder.
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