What are the most notable HY players that are absolute return focused i.e. known for bond investing in particular? Any under the radar funds / pods / names / trades would be incredibly helpful. Performing / stressed would be helpful since I'm much more familiar with distressed
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Chatham, Brigade
Thanks!
Also Interested
Anyone have any thoughts on Bracebridge? They seem to fit the criteria although they don't only do credit.
Bump, also interested
Apollo, Diameter, Goldentree, Redwood
Do all of these guys have a L/S credit strategy?
Yes
HG Vora baby.
Any more info on these guys? Which HH they use, strategies, what they look for in analysts, paths etc
Redwood, Goldentree, Brigade (which is more clo/long only sma) don’t really short much if at all. Apollo and Diameter are the most active in shorting single names. HG Vora is an event equity fund focused on consumer and hospitality space that has part of their portfolio in a levered loan TRS focused on 1L and 2L bank debt.
Redwood is mostly long biased and they have a larger long-biased credit fund alongside their master fund. Goldentree and Brigade both have large structured credit HFs that put on single name shorts very often. The analysts I know at both are always discussing shorts so they definitely do it.
Anchorage was among the larger funds with a more dynamic focus on shorting but they also lost ton of money shorting so I doubt they do it to same scale, especially since the fund has downsized significantly.
Brigade runs a fund that will go long and short various tranches on HY and IG CDX indices as a major component of the fund
silver point
How do you get compensated at a place like that?
Very well
They're one of the few credit funds doing well, so I assume pay is quite good these days
Anyone know the headhunters for these places and/or if they are hiring? Diameter and Brigade in particular
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