Courage Capital Management- Healthcare

Does anyone know of a Courage Capital Management in Nashville? It’s a credit / hf that specialize in healthcare, and also does some in consumer space. The last two credit funds returned -1.6% irr and 5% irr respectively based on pitchbook. Are they good? How are their healthcare industry expertise given the returns?

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Based on the most helpful WSO content, there is no specific mention of Courage Capital Management in Nashville or their expertise in healthcare or consumer credit funds. However, the provided returns of -1.6% IRR and 5% IRR for their last two credit funds suggest underwhelming performance, especially when compared to broader credit and distressed fund averages. For context, distressed funds have recently averaged around 3.56% YTD with top performers reaching 7%, as per HSBC Private Bank data.

Given these returns, their healthcare industry expertise might not be particularly strong, or their strategies may not have aligned well with market conditions. It would be prudent to dig deeper into their portfolio, strategy, and team expertise before forming a definitive opinion.

Sources: Credit/Special-situation HF performance this year?, Credit Hedge Fund opportunities, Healthcare PE - top shops, https://www.wallstreetoasis.com/forum/venture-capital/vc-is-a-laughable-shitshow-change-my-mind?customgpt=1, Bain Capital Healthcare

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