Millstreet Capital Management
| Private | |
| ISIN | 🆔 |
| Industry | Asset management |
| Founded 📆 | 2010 |
| Founders 👔 | Brian Connolly Craig Kelleher |
| Headquarters 🏙️ | , , U.S. |
Area served 🗺️ | United States |
Key people | Craig Kelleher (co-chairman and co-CEO)[1] Brian Connolly (co-chairman and co-CEO)[1] |
| 💎 AUM |  $1 billion (2022) |
| Members | |
Number of employees | |
| 🌐 Website | millstreet |
| 📇 Address | |
| 📞 telephone | |
Millstreet Capital Management LLC is an asset management firm specializing in high yield with a focus on the small-to-mid capitalization segment of the market.[2][3] The firm is located in Boston, Massachusetts and as of December 2021, Millstreet managed approximately $1 billion in assets.[4][5]
Millstreet was founded in 2010 by Brian Connolly and Craig Kelleher.[6][7]
History[edit]
Craig Kelleher and Brian Connolly formed Millstreet Capital in 2010 with a focus on investing opportunities in the small-to-mid (SMID) capitalization part of the high yield and leveraged loan markets. The founders of Millstreet Capital have served on numerous ad hoc creditors' committees and corporate boards. It primarily manages funds for institutional investors, including endowments, foundations, family offices, funds of funds, pension plans, and high-net-worth individuals.[8][9]
Since its founding in 2010, Millstreet Capital has concentrated on the inefficient and undervalued SMID capitalization segment of the market across the entire spectrum of performing, stressed, distressed, and post-reorganized credit as part of a value-oriented, fundamentally-driven investing strategy. By seeking for and acquiring undervalued assets, participating in restructurings, and subsequent stock transactions, the company employs a new approach to investing.[8][9]
In 2020, Millstreet Capital founded a blank check company named Millstreet Capital Acquisition[10], with an aim to raise $125 million through an initial public offering (IPO).[11] In September 2022, Millstreet Capital withdrew its plan for an IPO due to unfavorable market conditions.[11]
In 2021, Institutional Investor ranked Millstreet Capital's long/short fund sixth in its survey.[12]
Awards and recognition[edit]
- 2018: Wealth & Finance Best Long/Short Credit Hedge Fund[13]
- 2018: ACI US Performance winner[14]
- 2019: Hedgeweek Global Awards[15]
- 2021: Investor Choice Awards[16]
- 2022: Investor Choice Awards[17]
References[edit]
- ↑ 1.0 1.1 "SPAC Millstreet Capital Acquisition files for a $125 million IPO, targeting distressed companies". Renaissance Capital. July 8, 2021.
- ↑ "Midcap issuers find favor in high-yield". June 13, 2014 – via www.reuters.com.
- ↑ "Having raised just $25 million, crypto conglomerate Digital Currency Group gets a $10 billion valuation". Fortune.
- ↑ "Millstreet Capital Management LLC (Millstreet Capital Management) - Asset Manager, United States - SWFI".
- ↑ "Millstreet Capital Management".
- ↑ "Millstreet Capital Management". www.millstreet.com.
- ↑ "Daily Agenda: German Exports Numbers Signal Recovery". Institutional Investor.
- ↑ 8.0 8.1 "Millstreet Capital".
- ↑ 9.0 9.1 "IAPD".
- ↑ "Millstreet Capital Acquisition Corp - Company Profile and News". Bloomberg.com.
- ↑ 11.0 11.1 "Distressed business-focused SPAC Millstreet Capital Acquisition withdraws $125 million IPO". Renaissance Capital. September 30, 2022.
- ↑ "The Case for (a Few) Hedge Funds". Institutional Investor.
- ↑ "Millstreet Capital Management (2018 Winner: Fund Awards)". Wealth & Finance International.
- ↑ "ACI Perf Winners - Infogram". infogram.com.
- ↑ https://www.hedgeweek.com/sites/default/files/Hedgeweek_Special_Report_Hedgeweek_Global_Awards_2019.pdf
- ↑ https://www.investorschoiceawards.com/americas-2021.html
- ↑ https://www.investorschoiceawards.com/americas-2022.html
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