Brigade Capital Management, LP (New York)

Name: Brigade Capital Management, LP
Address: 399 Park Avenue, New York, NY, 10022 4415
Telephone: 212-745-9700

Brigade Capital Management, LP is a large advisory firm based in New York. It manages $22.06 billion of regulatory assets for 98 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Indiana and New York.

Brigade Capital Management provides portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Brigade Capital Management: assets under management

The assets under management (AUM) of Brigade Capital Management, LP is $22.06 billion. The firm's AUM has grown by 29% since the beginning of its operation, and $17.43 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $20.23 billion in discretionary accounts and $1.83 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $217.51 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $366.01 million.

Brigade Capital Management has custody of $182.53 million in cash and securities for 2 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in non-investment grade corporate bonds the most. They account for 44% of the total AUM. The second-largest asset type is other assets, which make up 43% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Brigade Capital Management, LP for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Patrick William Kelly serves?

The firm provides services to investment companies, pooled investment vehicles, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Patrick William Kelly is pooled investment vehicles with 68 clients and $15.86 billion of assets under management. Among the 12 most similar advisory firms, Brigade Capital Management has the 5th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $20.93 billion for 93 clients. 56% of the firm’s clients are foreign persons or businesses.

Brigade Capital Management also advises several private funds. Namely, twenty five hedge funds, five private equity funds, and twenty six securitized asset funds. The minimum investment commitment required of non-related persons ranges from $0 to $113,000,000.

Careers at Brigade Capital Management, LP

The company employs 99 people that are either part- or full-time employees. 41 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Patrick William Kelly has been acting as President since 1 Jan 2007. Morgan 2017 Trust joined the executive team most recently as the Limited Partner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Donald Ellis Morgan	Managing partner	1 Jan 2007	25% - 50%	4346583
Patrick William Kelly	Chief executive officer/president	1 Jan 2007	Other	1062571
Rosario (Nmn) Diminni	Co-head of trading	1 Jan 2007	Other	2395636
John Carney Hawks	Head of special situations	1 Jan 2007	Other	2790605
Donald E Morgan Iii Grat I	Limited partner	1 Jan 2007	Other	26-6189583
Douglas Carroll Pardon	Head of high yield research	1 Mar 2007	Other	4426633
Simon Michael Baukh	Senior analyst	1 Mar 2008	Other	2935572
Edward Thomas Finneran	Director of marketing and investor relations	1 Jun 2008	Other	2423654
Steven Patrick Vincent	Chief operating officer/chief legal officer	1 Jan 2009	Other	5644213
Andrew Sigurd Norman Lund	Head of financials	1 May 2009	Other	4184101
Raymond Joseph Garson	Senior analyst	1 Jun 2009	Other	2959534
Raymond (Nmn) Luis	Chief financial officer	1 Aug 2009	Other	5708580
Ivan (Nmn) Krsticevic	Head of distressed research	1 Sep 2009	Other	5877628
Steven Aaron Bleier	Co-head of trading/head of structured credit	1 Jan 2011	Other	2921190
Amf Bcm Finance Llc	Limited partner	1 Jan 2011	Other	20-318739
Brett Winslow Honneus	Chief technology officer	1 Jan 2011	Other	5644221
Gregory Andrew Soeder	Head of portfolio strategy	1 Jun 2011	Other	2910598
Robert Joseph Brady	Director of institutional sales	1 Jan 2014	Other	2282861
Dylan March Pelletier Ross	Trader/co-head of structured credit	1 Jan 2014	Other	5217151
Aaron Michael Daniels	Chief compliance officer/associate general counsel	1 Feb 2014	Other	2919920
Llc Brigade Capital Management Gp	General partner	1 Jul 2014	Other	47-1223140
Patrick Vincent Criscillo	Chief financial officer	1 Jan 2016	Other	2761039
Matthew Geoffrey Hartnett	Head of european trading and research	1 Jan 2016	Other	6610115
Michael Joseph Walker	Trader & senior relationship manager	1 Jan 2018	Other	2699677
Kunal (Nmn) Banerjee	Senior analyst	1 Jan 2018	Other	4175861
Matthew Harrison Perkal	Senior analyst	1 Jan 2018	Other	5159272
Joseph Duilio Turilli	Director, marketing	1 Jan 2018	Other	4810635
Sumit (Nmn) Sablok	Senior analyst	1 Jan 2018	Other	2772461
Morgan 2017 Trust	Limited partner	1 Jan 2019	Other	26-6189583

Indirect Owners

The SEC currently registers 8 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Credit Suisse	Shareholder	1 Dec 1975	75% - 100%	foreign
Credit Suisse Group Ag	Shareholder	1 Mar 1982	75% - 100%	foreign
Llc Amf Acquisition	Member	1 Aug 2008	75% - 100%	20-318739
Asset Management Finance Corporation	Member	1 Aug 2008	75% - 100%	20-318739
Inc. Credit Suisse Holdings (Usa)	Shareholder	1 Aug 2008	75% - 100%	13-2853402
Llc Asset Management Finance	Member	1 Jan 2011	75% - 100%	20-318739
Donald Ellis Morgan	Managing member	1 Jul 2014	75% - 100%	4346583
Rosario (Nmn) Diminni	Trustee	1 Jan 2019	Other	2395636

Based in New York

The principal office where Brigade Capital Management, LP performs its advisory services is located at 399 Park Avenue, New York, NY 10022 4415, which is also the mailing address of the firm. An additional office of the firm is in Indianapolis, IN. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-745-9700 or by fax 212-745-9701. The normal business hours are 9:00am - 5:00pm on Monday - Friday. You can find more information about the New York firm at brigadecapital.com.