Mudrick Capital Management

What Mudrick Capital Management does

Mudrick Capital Management, L.P. is an SEC-registered investment management firm specializing in stressed and distressed credit investing across U.S. and European markets. Founded in 2009 by Jason Mudrick with $5 million under management, the firm has grown to manage approximately $3.1 billion in assets, primarily on behalf of sophisticated global institutional investors including pension funds, endowments, family offices, and sovereign wealth funds. The firm deploys capital across the corporate capital structure in stressed, distressed, and event-driven situations, targeting equity-like returns with credit-like risk and volatility. Since inception, Mudrick has deployed over $12 billion across more than 300 investments, and team members have collectively served on over 275 boards of directors and creditors' committees.

The firm's operating platform consists of investment professionals (portfolio managers, analysts, a head trader, and a separate trader), a 9+ person investor relations and business development team, and dedicated legal, compliance, finance, operations, IT, and human capital functions. It is headquartered in New York at 31 West 52nd Street and operates a UK subsidiary, Mudrick Capital Management (UK) Ltd., from London (38 Jermyn Street), which is an appointed representative of Kroll Securities Ltd. and authorized under the Financial Conduct Authority. The firm maintains active board and creditor-committee representation across portfolio companies, including Vertical Aerospace (where it is majority shareholder), Safety-Kleen Holdings, Integrated Alarm Services Group, and AMC Entertainment.

Mudrick generates revenue through management fees on assets under management, typically calculated as a percentage of committed capital, plus performance fees (carried interest) on returns above specified hurdles. Distribution is conducted exclusively through direct institutional sales to accredited investors and qualified purchasers via confidential offering memoranda; the firm does not disclose pricing publicly and does not maintain a public product offering, API, or mobile application. Investor communications and co-investment opportunities are distributed through password-protected Intralinks portals.

Name

Mudrick Capital Management

Legal name

Mudrick Capital Management, L.P.

Website

https://www.mudrickcapital.com/

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Mudrick Capital Management is an SEC-registered, New York-based alternative asset manager founded in 2009 that invests approximately $3.1 billion in stressed and distressed credit across U.S. and European markets on behalf of institutional investors, targeting equity-like returns with credit-like risk.

Ownership category

akta.pro rank

Product category

Alternative Credit Investment Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Distressed / Opportunistic Credit (FSANADAF)

akta.pro secondary industries

Large-Cap Equity (Active) (FSAAAIAA), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Distressed credit investing
• Stressed credit funds
• Event-driven investing
• Alternative credit management
• Special situations funds

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Investment Management Fees: Mudrick Capital generates revenue through management fees charged on assets under management, typically calculated as a percentage of committed capital. The firm also earns performance fees (carried interest) based on investment returns above specified hurdles.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Mudrick Capital Management is an SEC-registered investment management firm that provides investment management services focused on stressed and distressed credit opportunities in U.S. and European credit markets. The firm manages approximately $3.1 billion on behalf of institutional investors, deploying capital across corporate capital structures through event-driven and special situations strategies targeting equity-like returns with credit-like risk. Founded in 2009, the firm has executed over 300 investments and deployed more than $12 billion since inception, distributing fund interests exclusively to accredited investors and qualified purchasers.

Product overview

Mudrick Capital Management is an SEC-registered investment management firm specializing in stressed and distressed credit investing across U.S. and European markets. The firm manages approximately $3.1 billion on behalf of institutional investors and provides investment management services focused on opportunities across corporate capital structures. Founded in 2009, the firm has deployed over $12 billion across more than 300 investments since inception. The firm operates through a team of investment professionals including portfolio managers, analysts, traders, and client services staff, with offices in New York and London. Mudrick Capital's core offering is its investment management services, which include event-driven and special situations investing strategies targeting equity-like returns with credit-like risk and volatility.

Differentiator

Problem solved

Functional benefit

Products and services

• Stressed and Distressed Credit Investment Funds SEC-registered private investment funds that deploy capital across corporate capital structures in stressed, distressed, and event-driven credit situations in the U.S. and European credit markets, targeting equity-like returns with credit-like risk and volatility. Available exclusively to accredited investors and qualified purchasers through confidential offering memorandums.
• Global Stressed Credit Strategy A specialized strategy managed by a dedicated portfolio manager that analyzes special situation opportunities across a diverse range of industries globally, targeting stressed credit positions with event-driven upside potential.
• Co-Investment Opportunities Side-by-side co-investment opportunities offered to existing Mudrick investors alongside the firm's primary funds, providing additional exposure to specific stressed and distressed credit transactions. Distributed through a password-protected Intralinks portal restricted to authorized investors.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cerberus Capital Management: Distressed and special-situations investor with a dedicated credit business and considerable board/creditor committee involvement — directly comparable to Mudrick's liability-management and creditor-committee strategy.
• Centerbridge Partners: Multistrategy credit and special-situations manager that invests across the capital structure in stressed and distressed issuers; comparable AUM tier and institutional LP base to Mudrick Capital.
• Oaktree Capital Management: Large alternative investment manager with a market-leading distressed debt strategy and multi-strategy credit funds; competes with Mudrick for the same institutional distressed mandates and creditor-committee roles.
• King Street Capital Management: Event-driven and distressed-credit hedge fund manager; co-invested with Mudrick Capital on the First Brands Group DIP loans, confirming direct co-investment and operational overlap in chapter 11 situations.
• Taconic Capital Advisors: Multi-strategy event-driven fund with deep distressed-credit franchise; both Andrew Meares and Ryan Tetley previously worked at Taconic, evidencing direct human capital overlap.
• Davidson Kempner Capital Management: Multi-strategy hedge fund with a major stressed/distressed credit book; one of Mudrick's analysts (Matt Pietroforte) was previously a Principal at Davidson Kempner, evidencing direct talent and strategy overlap.
• Strategic Value Partners: Specialist distressed and special-situations credit manager with dedicated event-driven and value-oriented credit funds, run as a focused alternatives shop comparable in size and strategy to Mudrick.
• Contrarian Capital Management: Jason Mudrick was previously Managing Director at Contrarian before founding Mudrick Capital; both firms pursue the same stressed/distressed credit strategy with discretionary, event-driven mandates for institutional LPs.

Broad incumbents

• Bain Capital Credit: Broader credit platform of Bain Capital that includes liquid, private, and distressed debt strategies; competes for the same stressed/distressed allocations, with greater scale and product breadth than Mudrick.
• Carlyle Group (Global Credit): Carlyle's Global Credit segment houses U.S. and European direct-lending and distressed-credit funds; Carly Gross previously led product/GIR at Carlyle, evidencing direct talent and product overlap with Mudrick.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments10 records

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

Frequently asked questions about Mudrick Capital Management