Brigade Capital Management, LP (New York)


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.