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.
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