Tricadia Capital
TypeLLC, Private
IndustryHedge funds
Founded2003
FounderMichael Barnes
Arif Inayatullah
HeadquartersNew York City, New York, United States
Total assets$2.0 Billion
Number of employees
39[1]
Websitetricadiacapital.com

Tricadia Capital Management, LLC ("Tricadia Capital") was a New York based asset management company. As of July 17, 2020, its primary website is offline.

History

Tricadia Capital is a multi-strategy credit manager for hedge funds and alternative investment accounts.[1] Tricadia Capital’s predecessor was formed in 2003 by Michael Barnes and Arif Inayatullah.[2] Tricadia Capital is a wholly owned subsidiary of Tricadia Holdings, L.P. (“Tricadia Holdings”), which is controlled by Messrs, Barnes and Inayatullah.[3] Tricadia Holdings also owns Tricadia CDO Management, LLC.[4] Tricadia Holdings is associated with Mariner Investment Group, LLC, which provides certain support services for the firm.[5][6]

Before founding Tricadia Holdings, Mr. Barnes had worked at UBS and Paine Webber, and Bear Stearns. Mr. Inayatullah had worked at UBS, BroadStreet Group, and Credit Agricole Indosuez.[7]

In December 2018, Management of Tricadia Capital is closing its hedge funds. The closures come after assets plummeted from a high of over $4 billion in 2014 in its flagship credit strategy. Tricadia will return around $800 million to investors in its Credit Strategy Fund and the company has already given customers over $150 million to its Convexity fund.[8]

In August 2019, Tricadia buys First Midwest Bancorp Inc, iShares Core S&P 500 ETF. As of the 2nd Quarter of 2019, Tricadia Capital Management, LLC owns 3 stocks with value totalling $43 million.[9]

Synthetic CDO

In 2004, Tricadia CDO Management, LLC was the first North American organization to issue a "synthetic CDO-squared" deal, which it did in conjunction with Citibank.[10]

References

  1. 1 2 "Investment Adviser Public Disclosure-SEC". U.S. Securities and Exchange Commission. Retrieved March 30, 2013.
  2. "TRICADIA CAPITAL MANAGEMENT, LLC". NASDAQ. Retrieved March 28, 2013.
  3. "New York Investor Preps CDO Debut". Securitization.Net. July 21, 2003.
  4. "Fordham Graduate School of Business – Credit Derivative Symposium BIO's for Program Speakers". Fordham University. Retrieved April 22, 2010.
  5. "Tricadia Makes CLO Debut". Securitization.Net. October 13, 2006.
  6. "Tricadia CDO Management LLC—U.S. ABS And CDO Of CDO" (PDF). Standard and Poors. Retrieved 2010-04-22.
  7. "Apple Creek Acquisition Corp,S-1 form". U.S. Securities and Exchange Commission. Retrieved April 22, 2010.
  8. Porzecanski, Katia (19 December 2018). "Tricadia Is Shutting Its Hedge Funds Amid Slew of Closures". Bloomberg. Retrieved 20 May 2020.
  9. "Tricadia Capital Management, LLC Buys First Midwest Bancorp Inc, iShares Core S&P 500 ETF". finance.yahoo.com. Retrieved 2020-04-03.
  10. "Primus, Solent Working On CDO Squared" (PDF). Derivatives Week. 2004-12-20.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.