Anyone familiar with Snowcat Capital or Mountaineer Partners?
Anyone familiar with either of those funds? I can't seem to find much info online. Mountaineer was formed by some folks from Contrarian, seems to be across the capital structure / event driven with a distressed tinge. Very small, probably sub $500m AUM. I think Snowcat is a bit bigger but still sub $1b. Mostly distressed/stressed credit. Each manager has one interview/profile out there, but any details are sparse.
Snowcat is almost definitely < $150mn. Returns are ok. They raise money on a deal by deal basis so actual AUM may be higher when taking into account SPVs etc. Turnover is crazy high for analysts. Mountaineer don't know much about. Fund has been around long enough for it to have taken off if that was the path. They raised a separate account to do the GSE trade.
Thank you very much for the response. I saw on aum13f.com that the Snowcat Special Situations fund has about $150m, but the master fund has >$400m. I'm not sure how accurate that is though. I saw elsewhere that Leon Cooperman himself invested $100m with them-- one would hope they could attract more than $50m from other outside investors if returns have been fine. My impression was that they were pretty liquid HY/distressed. Raising money on a deal-by-deal basis sounds crazy if they are indeed liquid-oriented (I haven't seen them show up in any notable dockets or DIPs, not that I've been monitoring closely) and I would imagine is a large factor in that crazy high turnover. Any more info that you have would be greatly appreciate, here or in pms.
Whats the best way to PM you
PM me here please (this is my alt account). Thank you for your insights!
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