NEW YORK, Nov. 15, 2016 /PRNewswire/ -- Anchorage Capital Group and Littlejohn & Co., LLC, in partnership with other shareholders, today announced that they have completed the sale of Contech . As an manager and administrator at Anchorage, Ulrich is involved in the firm's day-to-day as well as the . 2023 PitchBook. BofA Securities, Inc., JPMorgan Chase Bank, N.A., and MUFG Union Bank, N.A. Anchorage Capital Group, L.L.C. He earned a Juris Doctor degree, with honors, from Harvard Law School. Birrell will serve a two-year term as MFA board chair effective October 1,. Anchorage Capital Group, L.L.C. Kevin Ulrich Scored a $2 Billion MGM Win. Anchorage Capital Group is part of the Finance industry, and located in New York, United States. Get the full list, Morningstar Institutional Equity Research. Anchorage Capital Group has 171 employees, of which 4 are in a leadership position. Tommy Byrne founded Anchorage Capital Group. [2][3][4][10], At the same time, co-founder Ulrich also announced he would be stepping down from his role as CEO to move to a new role as Chairman. Ulrich has a BA from University of Western Ontario. Amazon on Wednesday agreed to. CHIEF OPERATING OFFICER: direct: 2007-02-01: DEUTSCHE ASSET MANAGEMENT INC Anchorage manages over $15 billion across several credit-oriented products. On this Wikipedia the language links are at the top of the page across from the article title. served as joint lead arrangers and joint bookrunners for the new ABL credit facility. Mark Kim is a Vice President at Anchorage . Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. Hear the latest economic, business and market news, as well as global, national, and local news. Youre viewing 5 of 30 team members. Hear the latest economic, business and market news, as well as global, national, and local news. ", "J.Crew and Madewell's ability to pair timeless classics with modern, fresh designs will never go out of style, and we intend to continue the legacies of these two iconic American brands with deeply loyal customers and strong, creative leadership teams," said Kevin Ulrich, Chief Executive Officer of Anchorage. OCC veteran joins America's first federally-chartered digital asset bank. 1801 New York, NY, 10001 and is based in New York City, New York. They were rewarded with the. We are also continuing to grow our offering of everyday essentials and are well positioned to lead the casualization trend offering our customers clothes they want to wear now. In 2003, he co-founded Anchorage Capital Group in New York; he currently serves as the CEO and Senior Portfolio Manager of the firm. 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Weil, Gotshal & Manges LLP served as legal counsel, Lazard served as investment banker, and AlixPartners, LLP served as restructuring advisor to J.Crew Group. As an manager and administrator at Anchorage, Ulrich is involved in the firms day-to-day as well as the larger. Kevin Ulrich relinquishes CEO role to become firms chairman, The closure is one of the biggest among hedge funds this year, Photographer: Rodin Eckenroth/Getty Images. Anchorage Capital Group, L.L.C. Aero Eng (Hons), B. Comm, PLD, Jesse Alderton#Associate Director#B. Crew Group, SFNet Annual Convention 2021 COVID Statement, SFNet Hall of Fame Lifetime Achievement Awards 2022, SFNet's Women in Secured Finance Conference, SFNet Emerging Leaders Summit (YoPro Leadership Summit), Diversity, Equity and Inclusion Committee, SFNet International Finance & Development Committee, Member Search: SFNet Annual Member Pricing, Georgia, Illinois, Kansas and Mississippi Latest States to Push for Commercial Finance Disclosures, Blackstone Launches Sustainable Resources Credit Platform, MetLife Investment Management to Acquire Alternative Investment Firm Raven Capital Management, Avaya Takes Action to Accelerate Transformation and Fortify Capital Structure. policy making decisions. The co-founder of what was once among the worlds biggest distressed-debt hedge funds said hes closing the flagship vehicle and ceding his day-to-day role as chief executive officer, after years of client withdrawals and uncooperative markets. Since 2010, Ulrich has been the director of MGM where he is also Chairman of the Board. Approximately $12.2 billion of this AUM is managed through evergreen and drawdown funds, which consist primarily of . "We are immensely pleased to have completed this process swiftly, and we thank our customers, associates, vendors, and new owners for the dedication and support they have given us these past several months," said Jan Singer, Chief Executive Officer of J.Crew Group. Anchorage Capital Group LLC in a letter to investors announced the closing of its $7.4 billion flagship credit fund after 18 years, The Wall Street Journal reported. Arts, CA, Kimberly Zoglmeyer-Ross#Executive Assistant. Anchorage Capital Group, L.L.C. [2] During the period Anchorage held MGM Studios, it had to fight off efforts by activist shareholder, Carl Icahn to take control of MGM studios. This is a profile preview from the PitchBook Platform. Anchorage Capital Group, L.L.C. They wondered whether the hedge fund had sunk and kept more than $1 billion in MGM Holdings. Pravin Manglani has been working as a Managing Director at Anchorage Capital Group for 15 years. As a reinvigorated company, we are committed to serving the changing life and style of today's multifaceted consumer and to delivering long term, sustainable results. 610 Broadway6th Floor New York, NY 10012 United States, Phone: 212-432-4600 Fax: 212-432-4601 Website: http://www.anchoragecap.com, Strategies/Sectors: Credit Event Driven Long/Short, Private Funds Managed(23): Anchorage Illiquid Opportunities Offshore Master Lp, Aio Iii Aiv Lp , Aio Iv Aiv Trust , Aio Iv Aiv Lp , Aio V Aiv Lp , Anchorage Capital Master Offshore Ltd , Anchorage Illiquid Opportunities Offshore Master Ii Lp , Anchorage Illiquid Opportunities Offshore Master Iii Lp , Anchorage Illiquid Opportunities Offshore Master Iv Lp , Anchorage Illiquid Opportunities Offshore Master V Lp , Anchorage Capital Clo 2012 1 Ltd , Anchorage Capital Clo 2013 1 Ltd , Anchorage Capital Clo 3 Ltd , Anchorage Capital Clo 4 Ltd , Anchorage Capital Clo 5 Ltd , Anchorage Capital Clo 6 Ltd , Anchorage Capital Clo 7 Ltd , Anchorage Capital Clo 8 Ltd , Anchorage Capital Clo 9 Ltd , Anchorage Credit Funding 1 Ltd , Anchorage Credit Funding 2 Ltd , Anchorage Credit Funding 3 Ltd , Anchorage Credit Funding 4 Ltd, Rank: 130 out of 3271 hedge fund management companies, Rank: 138 out of 3271 hedge fund management companies, Rank: 628 out of 3271 hedge fund management companies, Rank: 229 out of 3271 hedge fund management companies, Rank: 120 out of 3271 hedge fund management companies, Rank: 90 out of 3271 hedge fund management companies. [9], In December 2021, Anchorage announced it would close its $7.4 billion credit flagship fund (ACP Capital) due to lackluster returns and difficulties in markets such as distressed securities. Solugen Bio has built a chemical plant that produces all manner of chemical-based products using bio-based feedstock instead of fossil fuels. and Anchorage Capital, L.L.C. BofA Securities, Inc., JPMorgan Chase Bank, N.A., and MUFG Union Bank, N.A. Based on our data team's research, Kevin Michael Ulrich is the Anchorage Capital Group's CEO. Kevin Michael Ulrich is a businessperson who founded Anchorage Capital Group (Private Equity) and Anchorage Capital Group LLC and who has been at the helm of 5 different companies. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. As an executive at Anchorage, Ulrich leads all aspects of the firms workfrom portfolio management and risk navigation, to asset distribution and investment determinations. Crew Group, Inc., Chief Executive Officer of Anchorage Capital Europe LLP, Chief Executive . [7][8] The firm received $100 million in seed money from Reservoir Capital Group. [19] In 2021, MGM studios was sold to Amazon for $8.45 billion which resulted in a $2 billion profit for Anchorage. "We see an immense opportunity for growth and expansion at each brand and are confident their existing robust direct-to-consumer and e-commerce platforms will position the Company to succeed in today's evolving retail landscape. We are delighted that you'd like to resume your subscription. The firm manages private investment funds across the credit, special situations, and illiquid investment markets of North America and Europe using an active long and short basis, with a particular focus on defaulted and leveraged issuers. Under Ulrichs leadership, Anchorage has emerged as a prominent and distinguished alternative credit and distressed manager firm. You will be notified in advance of any changes in rate or terms. [10][19] He was never replaced and in the interim, the company was led by the newly formed "Office of the CEO". They operate 23 private funds and have approximately $27.18 billion in total assets under management (AUM). As of Dec. 31, 2021, Anchorage's total AUM is approximately $31.2 billion. 610 Broadway 6th Floor New York, NY 10012 United States Phone: 212-432-4600 Fax: 212-432-4601 Website: http://www.anchoragecap.com Overview of Anchorage Capital Group Org. Prior to co-founding Anchorage, Ulrich held a variety of roles at Goldman Sachs, including Managing Director, Head of Distressed Bank Loans, and Global Head of Bank Loan Trading. Affiliates managed by Lone Star Funds, Anchorage Capital Group, Fidelity Management & Research Co. and Cheyne Capital, collectively, comprise the new investor leadership and own a majority of GTT's reorganised equity, according to a company statement. Kevin Ulrichs two-decade run at the top of Anchorage Capital Group is over. Its investments include a wide range of both liquid and illiquid assets across companies' capital structures. It has more than 180 employees and offices in New York, London, Luxembourg and Sydney. Anchorage Capital Group is a New York-based registered investment adviser founded in 2003. [19] On October 2017, Barber received a contract renewal for 5 years until 2022. The firm is a known and prominent alternative credit and distressed management provider with international offices and a network of superior professionals. Anchorage Capital Group, L.L.C. Comm, LLB, Ben Ware#Director Investor Relations,#Fund Operations, Investment Services#B. ", "We are energized by the opportunity ahead for the Madewell brand and ready to continue our momentum as we enter into a new phase of growth," said Libby Wadle, Chief Executive Officer of Madewell. We are dedicated to providing a platform for sharing expertise among Korean financial professionals as well as educational and career programs for young Korean financial professionals and college students to maximize their opportunities for career success. [7][8] Both of them were previously working in the distressed debt business of Goldman Sachs. Mr. Eich has been with Covia and its predecessor . The CEO of Anchorage Capital Group is Kevin Michael Ulrich. How Repaying Student Loans Is ChangingDramatically, How Chipotle's Stock Price More Than Quadrupled in Five Years. Anchorage Capital Group, one of the biggest hedge-fund investors in distressed debt, is closing its flagship fund after 18 years and returning the $7.4bn it manages to clients, citing a market environment in which cheap money has helped keep stock and bond prices elevated while suppressing corporate defaults. Anchorage, along with GSO Capital Partners LP and Davidson Kempner Capital Management LP, among others, has provided J. San Francisco Bay Area, Silicon Valley), Total number of current Jobs the person has, Organization Name: This is the name of the organization, Title At Company: Title of a Person's Job, Start Date: Start date of the Person's Job, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Number of news articles that reference the Person, Managing Director, Head of Distressed Bank Loans, and Global Head of Bank Loan Trading, King's University College (University of Western Ontario), Kevin Ulrich transitions from CEO to Chairman at Anchorage Capital Group, Luca Guadagnino and Timothee Chalamets New Film Bones and All Lands at MGM, Anchorage Capital Closing Its $7 Billion Hedge Fund, Anchorage Capital Group closing down $7.4 billion flagship fund, Anchorage Capital is said to shut down $7.4B hedge fund (update), Kevin Ulrich Scored a $2 Billion MGM Win. It Only Took a Decade", "Amazon Deal for MGM Marks Long-Awaited Win for Hedge Funds", "J.Crew has filed for bankruptcy | CNN Business", "J.Crew emerges from bankruptcy, outlines new strategy", "BNP Paribas wins jurisdictional battle with Anchorage hedge funds", Taxation of private equity and hedge funds, Alternative investment management companies, https://en.wikipedia.org/w/index.php?title=Anchorage_Capital_Group&oldid=1140523845, Financial services companies established in 2003, Investment management companies of the United States, Privately held companies based in New York City, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 20 February 2023, at 13:17. Anchorage Capital Group / $16.4 billion Location: New York, NY Founded: 2003 2016 Hedge Fund 100 Rank: No. Anchorage and other members of an ad hoc committee were represented by Milbank LLP as legal counsel and PJT Partners LP as investment banker. This information is available in the PitchBook Platform. We look forward to working with Jan, Libby, and the entire leadership team.". About. Win whats next. Ulrichs expertise and skill are evident in everything from managing portfolios to navigating risk; from distributing assets to determining investment strategies. Anne Dinning. Anchorage Capital Group is a New York-based registered investment adviser founded in 2003. The employee data is based on information from people who have self-reported their past or current employments at Anchorage Capital Group. Anchorage Illiquid Opportunities Offshore Master Lp, Anchorage Illiquid Opportunities Offshore Master Ii Lp, Anchorage Illiquid Opportunities Offshore Master Iii Lp, Anchorage Illiquid Opportunities Offshore Master Iv Lp, Anchorage Illiquid Opportunities Offshore Master V Lp, Download the US Hedge Fund List in .xls format, Blue Sky Digital Outdoor Advertising Fund Fund Data, Sarasin Ie Global Equity Opportunities (Usd) Fund Data, Themelios Ventures Ii-A, L.P. Fund Data, Chief Executive Officer And Senior Portfolio Manager. Rachel's hire is just the latest sign of what we've made clear since our founding: Anchorage will continue to build our risk and compliance program to meet the high bar set by the OCC as we grow. [2][3][4][5][6], Anchorage was founded in 2003 by Kevin Ulrich and Tony Davis. All rights reserved. Anchorage announced in December that it was closing its $7.4bn flagship credit hedge fund, ACP Capital, after 18 years and returning the capital to its backers. 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