King Street Capital Management

What King Street Capital Management does

King Street Capital Management, L.P. is a New York-based, 100% partner-owned global alternative asset manager founded in 1995 by Brian Higgins. As of 3/31/2026 the firm manages approximately $30 billion in assets across five synergistic strategies: the flagship Multi-Strategy Credit strategy ($8B), the Global Drawdown Strategy ($3.5B) for special situations, Tactical and Opportunistic Credit, a Real Estate platform ($5.5B committed across 100+ transactions), and the Rockford Tower Capital Management CLO/CBO platform ($12B+ AUM, 28 deals, $99B+ aggregate loan trading volume). The firm operates through eight global offices (New York, London, Singapore, Tokyo, Dublin, Charlottesville, Dubai, Menlo Park) with 240+ employees including 80+ investment professionals and seven partners averaging 29 years of experience.

The firm generates revenue through traditional alternative asset management economics: recurring management fees on AUM (typically 1–2%) plus performance fees/carried interest (~20% above hurdle) across its flagship hedge fund, drawdown, real estate, and CLO vehicles. Distribution is exclusively institutional and private — pension funds, endowments, sovereign wealth funds, foundations, family offices, and fund-of-funds — accessed through direct institutional sales, placement agents, and reinvestment from the existing LP base. Origination runs through a dedicated Capital Markets sourcing team, with the firm increasingly taking majority equity positions in operating companies (Colovore, Voyant Beauty, Room00) in addition to providing debt capital solutions.

Recent strategic activity includes a leadership restructuring in April 2026, a December 2025 memorandum of understanding with Saudi Arabia's Public Investment Fund (PIF) to anchor a MENA private credit fund, the 2024 acquisition of liquid-cooled AI data center operator Colovore, ongoing geographic buildout (Dubai 2023, Dublin 2024, planned Riyadh), and product expansion including European Special Situations and Opportunistic Credit Strategies. The firm has no external parent, no public listing, and remains entirely employee/partnership-owned.

Name

King Street Capital Management

Legal name

King Street Capital Management, L.P.

Website

https://kingstreet.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

King Street Capital Management is a 100% partner-owned, $30 billion New York-based global alternative asset manager founded in 1995, offering multi-strategy credit, drawdown, real estate, and CLO products exclusively to institutional investors through eight global offices.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282), Asset-Backed Securities (6189), Investors, Nec (6799)

akta.pro primary industry

Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

akta.pro secondary industries

Commercial Real Estate Asset Management (BPAJAMAB), Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

Keywords

• Alternative asset management
• Multi-strategy credit
• Special situations investing
• CLO management platform
• Institutional investment management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Management Fees: Traditional alternative asset management fees charged on assets under management, typically ranging from 1-2% annually depending on strategy and fund structure.
2. Performance Fees / Carried Interest: Incentive fees typically structured as 20% of profits above a specified hurdle rate, aligning manager and investor interests.
3. Real Estate Investments: Returns from direct real estate equity and debt investments across special situations and thematic platforms, including transactions totaling $20+ billion in real estate securities and related investments.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

King Street Capital Management is a global alternative asset manager that operates five institutional investment strategies — Multi-Strategy Credit (Flagship), Global Drawdown, Tactical and Opportunistic Credit, Real Estate, and the Rockford Tower CLO/CBO platform — collectively managing $30 billion for pension funds, endowments, sovereign wealth funds, foundations, and family offices. The firm earns revenue through management fees on AUM and performance fees / carried interest, deploying proprietary research, a dedicated capital markets sourcing team, and event-driven credit expertise to capture dislocations and mispriced opportunities across asset classes and capital structures.

Product overview

King Street Capital Management is a global alternative asset management firm founded in 1995 offering a multi-strategy investment platform. The firm provides five distinct investment products: the Multi-Strategy Credit flagship strategy ($8B AUM) for event-driven opportunities across public and private markets; the Global Drawdown Strategy ($3.5B) for special situations credit; Tactical and Opportunistic Credit for performing credit globally; a Real Estate platform ($5.5B+ committed capital) for opportunistic debt and equity investments; and the Rockford Tower CLO Platform ($12B+ AUM) for CLO and CBO management. These strategies operate synergistically, allowing the firm to leverage expertise across asset classes and through the credit cycle.

Differentiator

Problem solved

Functional benefit

Brands

• Rockford Tower Capital Management: CLO and CBO management platform launched in 2017, with over $12 billion in assets under management across 19 U.S. CLOs, 9 European CLOs, and 1 CBO transaction as of 3/31/2026.

Products and services

• Multi-Strategy Credit (Flagship Strategy) King Street's flagship credit strategy launched in 1995, managing $8 billion in AUM as of 3/31/2026, focused on identifying attractive long and short, event-driven investment opportunities across the capital structure in public and private markets for institutional investors.
• Global Drawdown Strategy Special situations credit strategy launched in 2020, focused on idiosyncratic investments across global credit and related markets, identifying opportunities across corporates, asset-backed, and claims, with $3.5 billion in AUM for institutional investors.
• Tactical and Opportunistic Credit Strategy Strategies focused on dynamically capturing compelling risk-adjusted returns across public and private performing credit globally, including capital solutions, asset-based lending, and dislocated credit opportunities for institutional investors.
• Real Estate Global opportunistic strategy across direct real estate investments, managing $5.5 billion across 100+ transactions since 2010, focusing on debt and equity investments in special situations and thematic platforms for institutional investors.
• Rockford Tower CLO Platform King Street's CLO and CBO management platform launched in 2017, managing over $12 billion across 19 U.S. CLOs and 9 European CLOs, with over $99 billion in aggregate loan trading volume as of 12/31/2025, providing structured credit investment solutions to institutional investors.

Quantifiable outcome

• 30-year track record managing $30 billion AUM across public and private markets
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered minor and core.

• DH CapitalminorImplementation/ SI/ Consulting Partner · 20 May 2024DH Capital, a division of Citizens, served as exclusive financial advisor to Colovore in the King Street acquisition transaction.
• Kirkland & Ellis LLPminorImplementation/ SI/ Consulting Partner · 20 May 2024Kirkland & Ellis LLP served as legal advisor to King Street in the Colovore acquisition transaction.
• Rockford Tower Capital ManagementcoreStrategic or Co-development Partner · 1 January 2017Rockford Tower Capital Management is King Street's CLO and CBO platform launched in 2017, managing $12 billion+ AUM across 28 CLOs/CBOs, sharing King's Street investment philosophy focused on capital preservation and downside protection.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Apollo Global Management: Mega alternatives platform with material credit (Ares-like) and direct lending overlap. King Street has co-invested with Apollo on the Park Tower Hotel deal and competed alongside its credit funds for institutional mandates like Bally's.
• Marathon Asset Management: Alternative credit manager with similar mid-sized AUM, multi-strategy credit focus, and global institutional LP base. Marathon's structured credit and special situations strategies overlap directly with King Street's flagship and drawdown offerings.
• Ares Management: Credit-focused alternatives manager with significant CLO, direct lending, and special situations overlap. King Street has co-led the $1.1B Bally's term loan facility with Ares, indicating direct competition in the private credit space.
• Silver Point Capital: Credit-focused alternatives manager with comparable AUM scale and similar focus on special situations, leveraged credit, and structured products. Silver Point's flagship and opportunistic credit funds compete with King Street for the same institutional mandates.
• Davidson Kempner Capital Management: Multi-strategy credit-focused hedge fund manager with similar institutional LP base, fundamental research-driven approach, and event-driven credit strategies that directly overlap with King Street's flagship offering.
• Mudrick Capital Management: Special situations credit manager that has co-invested with King Street on the First Brands Group lender group, demonstrating direct overlap in distressed credit and restructuring opportunities.
• Oaktree Capital Management: One of the largest alternative credit and special situations managers globally, with comparable focus on distressed credit, structured credit (CLOs), and real estate. Oaktree's flagship and direct-lending strategies are directly competitive with King Street's multi-strategy credit and real estate platforms.
• Farallon Capital Management: Multi-strategy alternatives manager with similar AUM scale, institutional focus, and event-driven credit/real estate approach. Farallon's credit and special situations strategies compete directly with King Street's multi-strategy platform.
• Carval Investors: Alternative credit and special situations manager with overlapping focus on distressed debt, opportunistic credit, and asset-based lending. Carval's strategy set is comparable to King Street's credit and real estate platforms.
• Cerberus Capital Management: Distressed and special situations alternative manager with comparable mid-sized AUM and credit/restructuring expertise. Both firms share a focus on downside protection, opportunistic credit, and bankruptcy/restructuring situations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights3 records

Customer concentration

• LinkedInlinkedin.com/company/king-street-capital-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments17 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about King Street Capital Management