Sound Point Capital Management

What Sound Point Capital Management does

Sound Point Capital Management, LP is a New York-based, credit-focused alternative asset manager founded in 2008 by Stephen Ketchum with principals of Stone Point Capital, with minority investments from Blue Owl GP Strategic Capital and Assured Guaranty Ltd. As of December 31, 2025, the firm managed $44+ billion in assets across an integrated multi-strategy credit platform encompassing performing credit (including a Senior Floating Rate Strategy and a CLO platform with 59 U.S. and 19 European CLOs), opportunistic credit (Tactical Loan Opportunity and Credit Opportunities strategies), private credit (U.S. Direct Lending, Capital Solutions, and Specialty Finance/FinTech), structured credit (Third Party CLO, Sound Point CLO Strategies, and Sound Point Meridian Capital), and commercial real estate credit. The firm operates from offices in New York, London, West Palm Beach, Greenwich, and San Francisco, with approximately 185 employees including 88 investment professionals and 22 portfolio managers averaging over 25 years of credit industry experience.

The firm generates revenue primarily through management fees on AUM and performance fees/carry on certain strategies, with distribution executed through direct institutional sales, the Global Client Solutions team, wealth management platform partnerships (CAIS, iCapital), retail brokerage channels (Charles Schwab, Fidelity), and an affiliated publicly traded closed-end fund (Sound Point Meridian Capital, NYSE: SPMC). Its client base spans pensions, foundations, insurance companies, wealth management firms, family offices, and high net worth individuals as LPs, alongside corporate borrowers served by Capital Solutions, U.S. Direct Lending, and CRE Credit.

Strategically, Sound Point has scaled through a combination of organic fund growth and acquisitions — including CVC Credit's U.S. Direct Lending platform (2021) and Assured Investment Management (2023, adding $15.2 billion in AUM and 29 staff). Recent major fund vintages include Direct Lending Fund III ($1.2 billion, 2024) and Strategic Capital Fund III ($1.5 billion, 2026), alongside product expansion into retail via the SAFTX interval fund and into consumer credit via forward flow and growth investments with Pagaya Technologies and Alleviate Financial Solutions. The firm is led by founder Stephen Ketchum (CEO/CIO) with recent senior leadership additions including Global CFO Dan Fabian (2025) and CIO of U.S. Performing Credit Gunther Stein (2023), and is overseen by a Board of Managers including Stone Point Capital and Assured Guaranty representation.

Name

Sound Point Capital Management

Legal name

Sound Point Capital Management, LP

Website

https://soundpointcap.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

Sound Point Capital Management is a New York-based alternative asset manager founded in 2008 with $44+ billion in credit-focused AUM across CLOs, direct lending, opportunistic credit, structured credit, and specialty finance, serving institutional LPs, wealth platforms, and retail investors.

Ownership category

akta.pro rank

Product category

Credit-focused alternative asset management

NAICS

Portfolio Management and Investment Advice (52394), Other Financial Vehicles (525990), Other Financial Investment Activities (5239)

SIC

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

akta.pro primary industry

Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)

Keywords

• Alternative asset management
• Credit investing
• Collateralized loan obligations
• Direct lending
• Structured credit

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: Sound Point earns management fees on the $44+ billion in assets under management across its various funds and strategies including CLOs, direct lending funds, and structured credit vehicles.
2. Performance/Performance Fees: The firm earns carried interest and performance fees on certain fund strategies, particularly on opportunistic credit and direct lending funds where deal-level performance determines returns.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Sound Point Capital Management, LP is a $44+ billion diversified alternative asset manager specializing in credit strategies. The firm invests across the capital structure via performing credit, opportunistic credit, private credit, and structured credit vehicles, including CLOs (59 U.S. and 19 European), middle-market direct lending, capital solutions, specialty finance/FinTech, and commercial real estate credit. It manages institutional separate accounts, closed-end funds, interval funds, and a BDC.

Product overview

Sound Point Capital Management is a $44+ billion diversified alternative asset manager founded in 2008 with expertise in credit. The firm operates as a multi-strategy credit platform offering a comprehensive suite of investment products across performing credit, opportunistic credit, private credit, and structured credit. Key products include: Senior Floating Rate Strategy and CLO platform (59 U.S. and 19 European CLOs) for performing credit; Tactical Loan Opportunity Strategy and Credit Opportunities Strategy for opportunistic credit; Capital Solutions Strategy, Specialty Finance/FinTech Strategy, and U.S. Direct Lending Strategy for private credit; Sound Point Meridian Capital (NYSE: SPMC), a publicly-traded investment company focused on CLOs; Sound Point Alternative Income Fund (SAFTX), a multi-asset credit interval fund for individual investors; and Specialized vehicles including Strategic Capital Fund III ($1.5B), Sound Point U.S. Direct Lending Fund III ($1.2B), and Commercial Real Estate Credit platform. The firm also offers Separately Managed Accounts for institutional clients. The platform serves institutions, pensions, foundations, insurance companies, wealth management firms, family offices, and high net worth individuals.

Differentiator

Problem solved

Functional benefit

Products and services

• Sound Point Meridian Capital (SPMC) NYSE-listed closed-end management investment company that invests primarily in CLOs backed by U.S. corporate loans, seeking high current income and capital appreciation for investors.
• Sound Point Alternative Income Fund (SAFTX) Multi-asset credit interval fund launched with Skypoint Capital Advisors that provides individual investors access to private and alternative credit strategies, including middle-market direct lending, asset-based capital solutions, and specialty finance, with quarterly liquidity through repurchase offers and daily NAV pricing.
• Senior Floating Rate Strategy Launched in 2009, this long-only strategy invests primarily in senior secured loans, aiming to outperform the Morningstar LSTA U.S. Leveraged Loan Index with less volatility and lower duration, focusing on downside protection; available in institutional funds and separately managed accounts.
• Sound Point CLO Platform CLO platform consisting of 59 U.S. CLOs and 19 European CLOs, managed with focus on high-quality liquid credit, downside risk preparedness, active portfolio management, and par preservation.
• Tactical Loan Opportunity Strategy Drawdown private credit strategy investing in stressed and distressed U.S. broadly-syndicated leveraged loans trading below 90 cents, with active involvement in workouts and restructurings.
• Credit Opportunities Strategy Launched in 2009, this long/short strategy capitalizes on mispriced liquid opportunities in corporate credit with an event-driven and stressed/distressed focus, employing a fundamental, process-driven approach across the capital structure with emphasis on capital preservation and alpha generation.
• Capital Solutions Strategy Provides alternative lending solutions for transitional, growth, and rescue capital globally, with over $4.4 billion of capital deployed in recourse and non-recourse structures including accounts receivable facilities, hybrid and bespoke asset-backed loans, senior secured term loans, and debtor-in-possession and exit financings.
• Specialty Finance / FinTech Strategy Strategy focused on specialty finance assets including whole loans, warehouse facilities, and niche asset-backed securities originated through partnerships with specialty lenders, FinTech companies, and banks, with co-investments available.
• U.S. Direct Lending Strategy Direct lending platform focused on middle-market companies providing senior secured financing solutions; includes Sound Point U.S. Direct Lending Fund III ($1.2 billion) and a separately managed account expected to grow above $500 million.
• Third Party CLO Strategy Launched in 2019, this long-only strategy invests in third-party CLO equity and mezzanine tranches of predominantly U.S. CLO managers, opportunistically shifting between primary/secondary markets and equity/debt tranches; also offers customized SMAs focused on investment-grade CLO debt tranches for insurance company partners.
• Sound Point CLO Strategies (CLO-CMOA) Launched in 2019, this SEC-registered investment adviser invests in U.S. and European Sound Point CLO equity, warehouse facilities, and to a lesser extent debt tranches.
• Commercial Real Estate Credit Commercial real estate debt financing platform focused on middle-market loan origination ($10–30 million) with emphasis on multi-family and industrial sectors; manages approximately $1.3 billion in CRE debt investments.
• Strategic Capital Fund III Asset-backed, first-lien private credit vehicle focused on bespoke or transitional financing for U.S. corporate borrowers with ticket sizes of $150 million to $300 million; closed at its $1.5 billion hard cap after being substantially oversubscribed.
• Sound Point Direct Lending BDC Business development company providing direct lending solutions to middle-market companies, led by Andrew Eversfield as CEO.
• Separately Managed Accounts Cross-strategy solutions and customized separately managed accounts offering co-investment opportunities for institutional clients.

Quantifiable outcome

• $1.5 billion raised for Strategic Capital Fund III at final close, oversubscribed
• +2 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered major and minor.

• Greenbelt Capital PartnersmajorChannel Partner/ Reseller/ Distributor · 4 May 2026Sound Point served as Administrative Agent and Lead Arranger for $575 million senior secured credit facility supporting Greenbelt's acquisition of Peak Utility Services Group.
• Skypoint Capital AdvisorsmajorStrategic or Co-development Partner · 21 April 2026Joint launch of Sound Point Alternative Income Fund (SAFTX), a multi-asset credit interval fund designed to give individual investors access to private and alternative credit strategies.
• Pagaya Technologies Ltd.majorTechnology or Integration · 26 January 2026Forward flow agreement for Sound Point to purchase up to $720 million of point-of-sale loans through Pagaya's AI-driven lending platform. Deal extends Pagaya's funding visibility and gives Sound Point exposure to short-duration consumer credit assets.
• CAISmajorChannel Partner/ Reseller/ Distributor · 4 December 2025Partnership to broaden access to private credit solutions for the wealth channel. CAIS is the leading alternative investment platform for financial advisors, providing access to Sound Point's institutional-quality private credit strategies through the wealth management channel.
• iCapitalmajorChannel Partner/ Reseller/ Distributor · 14 December 2023Sound Point joined iCapital's Marketplace platform to offer alternative investment solutions to financial advisors and their clients.
• LBC Credit ManagementminorChannel Partner/ Reseller/ Distributor · 19 October 2022$180 million senior secured credit facility for Greenbelt Capital Partners' acquisition of Unirac, Inc., co-lender partnership.
• QED InvestorsminorStrategic or Co-development Partner · 9 December 2021Strategic partnership to create a new asset management business focused on providing debt and receivables financing solutions to early stage FinTech companies.
• InPoint Commercial Real Estate Income, Inc.minorStrategic or Co-development PartnerAn affiliate of Sound Point serves as sub-advisor to InPoint Commercial Real Estate Income, Inc., a non-traded commercial mortgage REIT sponsored by Inland Real Estate Investment Corporation.

Scale indicators9 records

Recent moves10 records

Expansion highlights7 records

Broad incumbents

• KKR & Co. Global alternative manager with significant credit and direct lending operations (KKR Credit). Overlaps with Sound Point in U.S. direct lending and asset-based finance, though KKR is materially larger and more diversified.
• Blackstone Credit: Credit and direct lending arm of Blackstone, the largest alternative manager. Overlapping direct lending and structured credit strategies, though Blackstone Credit operates as part of a much larger diversified platform.
• Carlyle Group: Major alternative asset manager with a credit division (Carlyle Credit) covering CLOs, direct lending, and structured products. Larger and more diversified than Sound Point but competes for similar institutional credit mandates.
• Apollo Global Management: Mega-cap alternative asset manager with one of the largest direct lending and credit platforms globally. Much larger and more diversified than Sound Point, but overlapping CLO, direct lending, and structured credit strategies make it a benchmark for scale economics.

Direct peers

• Octagon Credit Investors: Specialist CLO and leveraged credit manager of similar vintage and scale. Direct competitor in the same U.S. and European CLO structuring market, with comparable institutional distribution.
• Marathon Asset Management: Credit-focused alternative asset manager with CLO, structured credit, and private credit strategies. Overlapping product suite and similar institutional/sovereign wealth client base make Marathon a direct comparable.
• Ares Management: Largest publicly traded alternative asset manager with a credit-led platform spanning CLOs, direct lending, and specialty finance. Highly comparable to Sound Point given overlapping strategy mix (Credit, Private Credit, Structured Credit) and institutional client focus.
• CIFC Asset Management: Specialist CLO and leveraged credit manager of broadly similar AUM scale to Sound Point. Direct competitor in U.S. and European CLO structuring and management, with similar institutional client base.
• Blue Owl Capital: Public alternative asset manager with a major direct lending and credit franchise. Particularly relevant as Blue Owl's GP Strategic Capital (formerly Dyal Capital) division is also a minority investor in Sound Point, indicating direct strategic overlap.
• Sixth Street Partners: Credit-focused alternative asset manager with comparable direct lending, specialty finance, and asset-backed credit strategies. Similar size band and institutional client profile make it a strong direct comp for Sound Point's Capital Solutions and Direct Lending franchises.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/5351822

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries6 records

Funding overview

Funding rounds3 records

Investors2 records

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

M&A2 records

Investments10 records

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

Frequently asked questions about Sound Point Capital Management