Davidson Kempner

What Davidson Kempner does

Davidson Kempner Capital Management LP is a privately-held, Delaware-domiciled global investment management firm founded in 1983 by Marvin H. Davidson (with Thomas L. Kempner Jr. joining in 1984), now led by Managing Partner and CIO Tony Yoseloff. The firm manages approximately $35-37 billion in assets under management across a multi-strategy hedge fund, closed-end opportunistic and private credit vehicles (including the $3.0B Opportunities Fund VI and the $1.1B+ DK Income Fund II), and specialized platforms spanning commercial aviation (Ashland Place Finance), food manufacturing (Glacier/YSCO), energy transition (Thaleia), renewables development (Greencells), and operating-partner-led real-asset control investments (DK Hawthorne). Its core technology is a global credit and event-driven investment platform supported by dedicated Investment Research, Quantitative Research, and Knowledge Management teams, with execution distributed across eight offices (New York, Philadelphia, London, Dublin, Hong Kong, Shenzhen, Mumbai, Abu Dhabi). Davidson Kempner generates revenue primarily through a traditional 2-and-20 hedge fund fee structure — management fees on AUM plus performance fees on fund profits — alongside management and performance fees on closed-end credit and opportunistic vehicles. The firm serves two primary client sets: institutional limited partners (pension funds, sovereign wealth funds, endowments, foundations, family offices, and increasingly wealth advisors via the CAIS platform) for fund capital, and corporate borrowers, banks, and sellers of NPL/mortgage portfolios (e.g., ADCB, UCI) for direct lending, restructuring, and special situations mandates. Go-to-market is enterprise field sales to institutions, augmented by conference presence, research-driven thought leadership, and platform partnerships, with no public pricing or revenue disclosures.

Name

Davidson Kempner

Legal name

Davidson Kempner Capital Management LP

Website

https://www.davidsonkempner.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Davidson Kempner Capital Management is a privately-held global investment firm managing approximately $35-37 billion in AUM across multi-strategy hedge funds, private credit, and real-asset platforms, serving institutional limited partners and corporate counterparties through eight offices worldwide.

Ownership category

akta.pro rank

Product category

Hedge Fund Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Asset-Backed Securities (6189)

akta.pro primary industry

Multi-Strategy Hedge Fund of Funds (FSAHAKAA)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Corporate Finance & Capital Advisory (BPAHADAB)

Keywords

• Multi-strategy hedge fund
• Private credit funds
• Asset-backed lending
• Event-driven investing
• Alternative 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

Revenue model

1. Hedge Fund Management: Traditional 2-and-20 fee structure common for multi-strategy hedge funds, generating revenue through management fees on assets under management and performance fees (carry) on profits

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

Davidson Kempner Capital Management is a global institutional investment management firm that manages multi-strategy hedge funds, closed-end private credit funds (including the DK Income Fund series), and specialized investment platforms spanning corporate credit, structured products, real estate, and event-driven strategies. The firm manages approximately $35-37 billion in assets under management and serves institutional investors including pension funds, sovereign wealth funds, endowments, foundations, and family offices. Core activities include multi-strategy hedge fund management, opportunistic and asset-backed private credit, direct lending, structured credit, and distressed debt investments across eight global offices.

Product overview

Davidson Kempner is a global investment management firm offering a multi-strategy hedge fund as its core product, supplemented by closed-end private credit funds including the DK Income Fund series (asset-backed lending across residential, corporate, specialty finance and hard assets), specialized platforms like Ashland Place Finance (aviation), Glacier (ice cream manufacturing), and Thaleia (energy transition), plus operating partner affiliate DK Hawthorne. The firm manages approximately $35-37 billion in assets under management across multiple strategies.

Differentiator

Problem solved

Functional benefit

Brands

• Ashland Place Finance: Commercial aviation financing platform providing innovative capital solutions to the global commercial aerospace industry
• Glacier
• Thaleia
• YSCO
• DK Hawthorne

Products and services

• Davidson Kempner Multi-Strategy Fund
• DK Income Fund II
• DK Income Fund I
• Ashland Place Finance
• Glacier Ice Cream Investments Platform
• Thaleia Energy Transition Platform
• Insurance Asset Management Platform
• Davidson Kempner Opportunities Fund VI

Named customers9 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• EDPcoreStrategic or Co-development Partner · 26 February 2026Partnership for renewable power supply to Start Campus's 1.2 GW data center in Sines, Portugal. EDP serves as preferred long-term partner for sustainable power solutions.
• Gordon BrotherscoreStrategic or Co-development Partner · 15 September 2025Joint venture for equipment finance, combining Gordon Brothers' asset expertise with Davidson Kempner's capital. Gordon Brothers provided $1.5 billion of the $2.3 billion facility in a joint venture with Wells Fargo and Davidson Kempner.
• Wells FargominorStrategic or Co-development Partner · 15 September 2025Equipment finance joint venture with Gordon Brothers and Davidson Kempner, with Wells Fargo participating as part of the $2.3 billion facility structure.
• Afendis Capital ManagementcoreStrategic or Co-development Partner · 23 July 2024Operating partner for YSCO ice cream acquisition and Glacier ice cream investments platform. Afendis brings operational expertise to food and beverage investments alongside Davidson Kempner's capital.
• Seapoint CapitalminorImplementation/ SI/ Consulting Partner · 31 January 2023Appointed as Special Servicer for the ADCB non-performing loan portfolio acquisition.
• Reviva CapitalminorImplementation/ SI/ Consulting Partner · 31 January 2023Appointed as Loan Servicer for the ADCB non-performing loan portfolio acquisition.
• HighgatecoreStrategic or Co-development Partner · 4 January 2023Operating partner in consortium acquisition of ECS Capital, providing hospitality real estate expertise. Highgate has over $20 billion of assets under management and operates over 500 hotels.
• KronosminorStrategic or Co-development Partner · 4 January 2023Operating partner in ECS Capital acquisition, bringing Iberian real estate development and asset management expertise with over €2.0 billion in assets managed.
• CAIScoreChannel Partner/ Reseller/ Distributor · 15 September 2022Partnership to provide access to Davidson Kempner's alternative investment strategies via the CAIS Platform for independent financial advisors and wealth management community.
• Jennifer Villa TennityminorOthers · 21 September 2021Leadership hire for Ashland Place commercial aviation financing platform, with nearly 25 years of experience from CIT's Aviation Lending business.
• Ashland Place FinancecoreOthers · 21 September 2021Wholly-owned subsidiary platform for commercial aviation financing, providing sourcing and loan arrangements to the global commercial aerospace industry.

Scale indicators7 records

Recent moves9 records

Expansion highlights8 records

Direct peers

• Fortress Investment Group: Multi-strategy alternative asset manager with a heavy credit, distressed, and special situations focus (private equity, credit, real estate, and permanent capital vehicles). Highly comparable to DK given overlap in event-driven credit, structured products, and operating-partner style deal making; Fortress and DK are co-investors in Bourbon.
• Oaktree Capital Management: Premier credit-focused alternative investment manager with flagship distressed debt, private credit, real estate, and listed equities strategies. Closely comparable to DK given overlapping opportunistic credit and distressed debt expertise and similar institutional LP base; Oaktree is part of the broader Brookfield ecosystem.
• Cerberus Capital Management: Multi-strategy alternative manager specializing in distressed debt, special situations, and private equity with deep operational involvement in portfolio companies. Comparable to DK's distressed credit and operating-partner approach (DK Hawthorne) and similar institutional client base.
• Marathon Asset Management: Credit-focused alternative investment manager with strategies spanning corporate credit, distressed, structured credit, and real estate. Closely comparable to DK given shared focus on opportunistic credit, asset-backed lending, and structured products across global markets.
• GoldenTree Asset Management: Credit-focused alternative asset manager with strategies across high yield, distressed, structured credit, and private credit. Comparable to DK in multi-strategy credit orientation, institutional client base, and global footprint.
• Farallon Capital Management: Multi-strategy hedge fund manager investing across credit, equities, event-driven, and real estate globally. Closely comparable to DK's flagship multi-strategy approach and institutional LP base, with a similar San Francisco-headquartered boutique structure.
• Centerbridge Partners: Multi-strategy alternative investment firm focused on distressed credit, special situations, and private equity. Comparable to DK given shared focus on event-driven credit, distressed debt, and active ownership of operating companies through complex situations.
• Mudrick Capital Management: Distressed credit and special situations investor with flagship credit fund plus opportunistic credit strategies. Comparable to DK given focus on event-driven and distressed opportunities, structured credit exposure, and similar institutional client base.
• Baupost Group: Multi-strategy value-oriented investment manager combining public and private credit and equity. Comparable to DK given multi-strategy mandate, value orientation, similar AUM scale (~$25-30B), and similar institutional client base.

Broad incumbents

• Apollo Global Management: Largest publicly traded alternative asset manager with massive private credit, real estate, and private equity franchises. Comparable to DK as a broad incumbent in the same alternatives universe with overlapping credit, real estate, and structured products strategies, but materially larger and publicly traded.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/davidson-kempner-capital-management

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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

M&A3 records

Investments24 records

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

Frequently asked questions about Davidson Kempner