Millstreet Capital Management LLC (Boston)

Name: Millstreet Capital Management LLC
Address: 399 Boylston Street, Boston, MA, 02116
Telephone: 617-939-0030

Millstreet Capital Management LLC is a large advisory firm based in Boston. It manages $424.59 million of regulatory assets for 6 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Connecticut and Massachusetts.

Millstreet Capital Management provides 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.

Millstreet Capital Management: assets under management

The assets under management (AUM) of Millstreet Capital Management LLC is $424.59 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 354% since the beginning of its operation, and $11.77 million of the total AUM is attributable to clients outside of the United States.

The firm manages $424.59 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $70.77 million each.

Investments

The firm invests in non-investment grade corporate bonds the most. They account for 43% of the total AUM. The second-largest asset type is non-exchange traded securities, which make up 28% of the firm’s portfolio. Investments in other assets form 11% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Millstreet Capital Management LLC for their services and products based on a percentage of assets under management, fixed fees, 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 Millstreet Capital Management serves?

The only and largest group of clients of Millstreet Capital Management is pooled investment vehicles with 2 clients and $50.96 million of assets under management. Among the 8 most similar advisory firms, Millstreet Capital Management has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $50.96 million for 2 clients. 67% of the firm’s clients are foreign persons or businesses.

Millstreet Capital Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $500,000 for each fund.

Careers at Millstreet Capital Management LLC

The company employs 7 people that are either part- or full-time employees. 43 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Craig M Kelleher	Managing member, class a	1 Mar 2010	25% - 50%	2893729
Brian Driscoll Connolly	Managing member, class a	1 Mar 2010	25% - 50%	2310219
Rebecca Johnson Vail	Member/chief financial officer/chief operating officer/chief compliance officer, class a	1 Mar 2010	Other	2225092
Palmer Square Emerging Manager Fund L.P.	Member, class b	1 Apr 2011	25% - 50%	27-2533055
Jeffrey Thomas Growney	Member/head of business development & investor relations, class b	1 Jun 2017	Other	1525319
Janet York Kastrud	Chief compliance officer	1 Aug 2018	Other	6999743
David Thomas Danforth	Chief operating officer/chief financial officer	1 Aug 2018	Other	7001325

Indirect Owners

The SEC currently registers 17 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Ronald Warren Sellers	Member/chairman/ceo	1 Jun 2007	50% - 75%	1474762
Martin Christopher Bicknell	Elected manager	1 Jul 2007	Other	2007121
Llc Bicknell Family Holding Company	Member	1 Apr 2008	75% - 100%	26-0534255
Bicknell Family Management Company Trust	Managing member	1 Jun 2009	Other	20-7480290
Martin Christopher Bicknell	Trustee	1 Jun 2009	Other	2007121
William Allen Freeman	Trustee	1 Jun 2009	Other	5682255
Llc Montage Investments	Managing member	1 Sep 2009	50% - 75%	152607
Llc Mariner Holdings	Managing member	1 Jan 2010	75% - 100%	26-2766689
Llc Bicknell Family Holding Company	Managing member	1 Jan 2010	75% - 100%	26-0534255
Maps Capital Advisors Llc	General partner	1 May 2010	Other	27-2532846
L.L.C. Atlantic Asset Management	Member	1 Aug 2010	25% - 50%	111037
Palmer Square Capital Advisors Llc	Managing member	1 Aug 2010	50% - 75%	27-0400545
Llc Montage Investments	Managing member	1 Aug 2010	75% - 100%	152607
Montage Alternative Advisors Llc	Member	1 Aug 2010	25% - 50%	27-1392980
Michelle Ann Morton	Partner	1 Dec 2013	50% - 75%	1123062
Richard Thaddeus Deary	Partner	1 Aug 2014	25% - 50%	6388981
Llc Atlantic Capital Holdings	Owner	1 Apr 2015	75% - 100%	46-4384213

Based in Boston

The principal office where Millstreet Capital Management LLC performs its advisory services is located at 399 Boylston Street, Boston, MA 02116, which is also the mailing address of the firm. An additional office of the firm is in Stamford, CT. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-939-0030 or by fax 617-939-0029. The normal business hours are 8:30am-6pm on Monday - Friday. You can find more information about the New York firm at millstreetcapital.com.