A global credit-oriented investment firm combining bottom-up fundamental research with active trading

Anchorage Capital Advisors, L.P. (“Anchorage”) is an investment firm with $27.1 billion in AUM that was formed in 2022 as the successor organization to Anchorage Capital Group, L.L.C.

Led by Co-CIOs and Managing Principals Yale Baron and Thibault Gournay, Anchorage focuses on a wide range of assets across the credit spectrum and throughout a company’s capital structure, including performing loans and bonds, distressed debt, special situations, and structured credit. We primarily invest in both U.S. and Europe and seek to capture attractive opportunities across the corporate credit spectrum.

Our Values

INTELLECTUAL HONESTY

ETHICS

DISCIPLINE

COLLABORATION

PARTNERSHIP

INNOVATION

We believe deep intellectual rigor and honest, spirited debate among diverse perspectives is the foundation for optimal decision-making.

We seek to foster a culture of mutual respect and hold ourselves to the highest ethical standards personally and professionally.

We believe delivering differentiated long-term results requires discipline and tenacity.

We believe that close collaboration between our investment and infrastructure teams drives differentiated results for our investors.

We strive to build strong partnerships through transparency, communication, and alignment of long-term economic incentives with our investors.

We nurture a culture of open dialogue and innovation to unlock value that often lies in complexity.

Our Values

INTELLECTUAL HONESTY

ETHICS

DISCIPLINE

COLLABORATION

PARTNERSHIP

INNOVATION

We believe deep intellectual rigor and honest, spirited debate among diverse perspectives is the foundation for optimal decision-making.

We seek to foster a culture of mutual respect and hold ourselves to the highest ethical standards personally and professionally.

We believe delivering differentiated long-term results requires discipline and tenacity.

We believe that close collaboration between our investment and infrastructure teams drives differentiated results for our investors.

We strive to build strong partnerships through transparency, communication, and alignment of long-term economic incentives with our investors.

We nurture a culture of open dialogue and innovation to unlock value that often lies in complexity.

Our Approach

Credit-oriented investment firm that combines fundamental research with active trading
Flexible strategies designed to capture opportunities across the credit market continuum
Integrated investment team focused on fundamental value across U.S. and Europe with deep jurisdictional and restructuring expertise
Collaboration across investment and infrastructure teams differentiates Anchorage throughout the investment lifecycle

Performing Credit

Structured Credit

Customized Strategies,
Co-Investments

& Thematic Funds

Credit
Opportunities
& Distressed

Performing Credit

Actively managed portfolios
Flexible strategies investing across adjacent asset types
Experienced CLO and CDO manager in U.S. and Europe combining attractive term-financing with active portfolio management

Structured Credit

Experienced CLO and CDO manager in U.S. and Europe combining attractive term-financing with active portfolio management
Experienced secondary structured credit investor

Customized Strategies,
Co-Investments &
Thematic Funds

Customized by asset type, liquidity, leverage, theme, and vehicle:
- Dislocation strategies
- Single-name Co-Investments
- Separately managed accounts
- Energy Transition

Credit Opportunities
& Distressed

Flexibility to pursue the best priced risk across a wide range of asset types
Focused on dislocated credit, special situations, structured credit, and uncorrelated investments
Deep restructuring expertise