MatlinPatterson
This article contains content that is written like an advertisement. (April 2024) |
New York, New York, United States | |
Products | Growth capital |
---|---|
Total assets | $8.9 billion |
Number of employees | 80 |
Website | www.matlinpatterson.com |
MatlinPatterson is a
MatlinPatterson is managed by co-founder David Matlin, together with Managing Partner, Peter Schoels and Michael Lipsky. Mr. Schoels has served as Managing Partner since 2009 and is also responsible for management of the
History
In 1994, David Matlin and Mark Patterson formed the
In 2007, David Matlin and Matlin Patterson formed an affiliate to leverage the distressed control expertise by offering a non-control liquid trading strategy.[5] At the beginning of 2013, the control and non-control businesses were combined into a single investment management platform under the overall supervision of Mr. Matlin. This interdisciplinary approach, blending trading and private equity skills to invest in distressed opportunities, enables the Firm to flexibly source transactions under a variety of economic and financial environments.
Through several distressed debt cycles, MatlinPatterson and its investment professionals have invested over $14 billion of proprietary capital, distressed-for-control funds and non-control distressed funds in more than seventy-five control and 380 non-control distressed opportunities in more than twenty-five countries.
In December 2012, Allied World Assurance, a publicly traded insurance company, acquired a minority interest in the liquid credit business of MatlinPatterson. As part of the transaction, Allied World agreed to invest $500 million in MatlinPatterson's funds.[6]
The MatlinPatterson Group collectively represents the MatlinPatterson Distressed business and a full spectrum of credit focused
MatlinPatterson distressed business investments
MatlinPatterson's distressed business pursues illiquid control and activist non-control
In 2007, MatlinPatterson acquired a controlling stake in XL Health, a
The firm was also a significant purchaser of
In 2001, MatlinPatterson became the majority owner of Huntsman Corporation,
In 2008, the company purchased a controlling stake in
MatlinPatterson Investment Strategies
MatlinPatterson Global Opportunities
MatlinPatterson's control strategies are characterized by control or active participation in distressed companies and their restructurings through investments that require a long-term investment outlook. The team invests in senior and subordinated, secured and unsecured debt and equity, in both public and private companies.
MatlinPatterson's liquid credit strategies seek to generate absolute returns with low volatility through non-investment grade credit across all periods of the default cycle. The strategies seek to exploit inefficiencies in selected markets and capitalize on situations that are outside mainstream investment opportunities.
MatlinPatterson Credit Trading
MatlinPatterson's credit trading strategies take a trading-oriented, liquid approach to the performing credit markets. The firm's strategies seek to generate consistent, equity-like returns while limiting volatility and the potential tail risk that can be associated with the credit asset class. The team's security selection, portfolio construction and risk management processes seek to create an asymmetric return profile that is long volatility and that relies on price movements to generate returns. The team's risk management process is focused on capital preservation utilizing a tight stop-loss discipline. The strategies incorporate the use of corporate and municipal bonds, credit default swaps, and other credit-related instruments.
MatlinPatterson Securitized Credit
MatlinPatterson's securitized credit strategies take a liquid relative value approach, targeting credit investments across the residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and asset-backed securities (ABL) markets. The firm seeks to generate returns through a comprehensive asset selection process and an active trading strategy. The team utilizes proprietary analytics to drive the evaluation of investment opportunities and performs rigorous stress tests across a variety of scenarios. Investments are based on a disciplined bottom-up approach centered upon an assessment of the credit quality of the assets that constitute the underlying collateral of the relevant security or instrument.
MatlinPatterson Senior Credit
MatlinPatterson's senior credit strategy focuses on senior bank debt. This strategy involves the construction and management of high current income portfolios of senior bank loans. The firm applies a fundamental bottom-up credit research investment process driven by disciplined and continuous credit monitoring. MatlinPatterson seeks to mitigate credit risk by focusing on issuers with at least 50% junior capital to the secured bank loans and consistent core cash flow generation (EBITDA). Historically this approach has achieved lower volatility returns by minimizing capital losses from default and default-like events.
References
- ^ "Contact Info." MatlinPatterson Global Advisers. Retrieved on September 17, 2009.
- ^ Graham, Joseph (17 November 2003). "Two legends of distressed investing visit Wharton". The Wharton Journal. Archived from the original on 23 February 2007. Retrieved 30 October 2013.
{{cite news}}
: CS1 maint: bot: original URL status unknown (link) - ^ MatlinPatterson raises new $5 billion fund. Reuters, Jun 26, 2007
- ^ Credit Suisse Renews Ties With MatlinPatterson. Wall Street Journal, April 6, 2007
- ^ MatlinPatterson Launches First Hedge Fund. February 21, 2007
- ^ Peter Lattman, 10.08.12, 9:01 AM ET (2012-10-08). "Allied World Assurance Buys Stake in MatlinPatterson". dealbook.nytimes.com.
{{cite news}}
: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link) - ^ "Nortel assets to boost Ericsson presence in North America - Equipment\cn-c114 ! C114 - China Communication Network". Cn-c114.net. 2009-07-27. Retrieved 2012-05-22.
- ^ Smiddy, Oliver (6 August 2012). "PEI Awards for Operational Excellence 2012". Private Equity International. Retrieved 30 October 2013.
- ^ David M. Ewalt, 02.14.05, 6:20 AM ET (2005-02-14). "Verizon To Acquire MCI For $6.8B". Forbes.com. Retrieved 2012-05-22.
{{cite news}}
: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link) - ^ "Huntsman IPO rises 6.5% after boosting size - IPO Report". MarketWatch. Retrieved 2012-05-22.
- ^ Berman, Phyllis (20 July 2007). "A Homer For The Babe Ruth Of Vulture Investing". Forbes.
- ^ Business Wire (2004-12-13). "NRG Energy Plans to Repurchase 13 Million Common Shares; Redeem up to $400 million of High Yield Notes". News.ea.com. Retrieved 2012-05-22.
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has generic name (help) - ^ "Homing in: U.S. homebuilding M&A to get rolling after long lull". Reuters. 2015-06-19. Retrieved 2023-08-25.
- ^ "def14a". U.S. Securities and Exchange Commission. May 17, 2011.
External links
- MatlinPatterson (company website)