Kerberos Capital Management
Kerberos Capital Management is a Chicago-based SEC-registered boutique alternative asset manager founded in 2018, deploying $400M+ across asset-backed credit, specialty finance, and litigation finance strategies for institutional investors, family offices, and HNW investors.
- Company typePrivate
- Founded2018
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Kerberos Capital Management does
Kerberos Capital Management is a Chicago-based, SEC-registered boutique alternative asset manager founded in 2018 by Joe Siprut, a former nationally recognized trial attorney. The firm focuses on asset-backed credit and specialty finance strategies, deploying capital across private credit, litigation finance, and bespoke specialty finance transactions through commingled funds, separately managed accounts, and related mandates. Its underwriting framework integrates credit analysis, legal and contractual analysis, and restructuring expertise—a methodology designed for transactions where complexity creates barriers for traditional lenders. The firm serves institutional investors, family offices, financial advisors, and high-net-worth investors, and manages $400 million+ in platform assets as of March 31, 2026.
The firm's product set spans private credit strategies, specialty finance solutions, litigation finance, and the world's first ESG-linked debt product for litigation finance markets (launched September 2021), featuring a margin ratchet tied to ESG targets. Distribution is direct-to-investor complemented by a subadvisory partnership with AIR Asset Management (announced February 2023), in which Kerberos manages the legal finance allocation of AIR's multi-strategy product.
Revenue is generated through management fees on assets under management and performance-based fees (carried interest) tied to investment returns. The firm does not publicly disclose pricing, fee schedules, or revenue figures. Marketing and distribution rely on thought leadership—CEO Joe Siprut's speaking engagements at private credit, litigation finance, and family office conferences—earned media coverage, and an active social media presence. The leadership team of approximately seven named professionals includes former senior personnel from Goldman Sachs, Brevet Capital, True Green Capital, and major law firms, providing the integrated legal-and-credit capability that defines the firm's positioning.
Kerberos Capital Management firmographics
Firmographics- Name
- Kerberos Capital Management
- Legal name
- Kerberos Capital Management LLC
- Website
- https://kerberoscm.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Kerberos Capital Management is a Chicago-based SEC-registered boutique alternative asset manager founded in 2018, deploying $400M+ across asset-backed credit, specialty finance, and litigation finance strategies for institutional investors, family offices, and HNW investors.
- Ownership category
- akta.pro rank
Kerberos Capital Management industry classification
Industry- Product category
- Alternative Asset Management (Private Credit and Specialty Finance)
- NAICS
- Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Investment Advice (6282), Asset-Backed Securities (6189)
- akta.pro primary industry
- Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)
Keywords
Where Kerberos Capital Management is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Kerberos Capital Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Investment Management Fees (Management Fees): Kerberos earns management fees on assets under management across commingled funds, separately managed accounts, and related mandates for institutional investors, family offices, financial advisors, and high-net-worth investors.
- Performance Fees (Carry): The firm earns performance-based fees or carried interest tied to investment returns, typical for alternative investment managers focused on private credit and specialty finance strategies.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Kerberos Capital Management product offering
Product offeringCore offering
Kerberos Capital Management is a boutique alternative asset manager that invests in asset-backed credit and specialty finance opportunities through commingled funds, separately managed accounts, and related mandates. The firm integrates legal and contractual analysis into credit underwriting to evaluate enforceability, recovery pathways, structural protections, and downside risk, providing flexible capital solutions to borrowers and counterparties that traditional lenders cannot evaluate or finance. Target investors include institutional investors, family offices, financial advisors, and high-net-worth individuals.
Product overview
Kerberos Capital Management operates as an SEC-Registered Investment Adviser offering a unified alternative investment platform focused on asset-backed credit and specialty finance. The platform is built around three core product pillars: Private Credit Strategies, Specialty Finance Strategies, and the proprietary ESG-Linked Debt Product for Litigation Finance. These products are delivered through commingled funds, separately managed accounts, and related mandates for institutional investors, family offices, financial advisors, and high-net-worth investors. The platform combines credit underwriting, legal analysis, restructuring expertise, and disciplined risk management to pursue differentiated investment opportunities across various asset classes and transaction structures.
Differentiator
Problem solved
Functional benefit
Products and services
- ESG-Linked Debt Product for Litigation Finance Direct lending product to law firms featuring a margin ratchet mechanism linked to ESG performance targets. The world's first ESG-linked debt product specifically designed for litigation finance markets.
- Private Credit Strategies Asset-backed credit and specialty finance investment strategies offered through commingled funds, separately managed accounts, and related mandates. Includes yield, opportunistic, and hybrid strategy pillars.
- Specialty Finance Strategies Specialized financing solutions that often require legal, financial, and restructuring expertise. Targets opportunities where complexity creates barriers to entry and attractive risk-adjusted returns.
- Litigation Finance Financing solutions for law firms and litigation portfolios, evaluated based on contractual analysis, recovery assessment, and complex credit opportunities.
Quantifiable outcome
- Kerberos manages $400 million+ in platform assets across private credit and specialty finance strategies as of March 31, 2026.
- +1 more outcomes
Companies that use Kerberos Capital Management
Customer profileSegments4 records
Ideal customer profiles3 records
Kerberos Capital Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Kerberos Capital Management partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- AIR Asset ManagementcoreAIR Asset Management, a Chicago-based hedge fund management firm focused on life settlements, annuities, and private credit, partnered with Kerberos Capital Management to add a legal finance allocation to its multi-strategy product. Kerberos serves as subadvisor to AIR on AIR's legal finance strategy, providing investment management expertise in litigation finance and legal financing.
Scale indicators4 records
Recent moves5 records
Expansion highlights5 records
Kerberos Capital Management competitors and assessment
Company assessmentDirect peers
- Brevet Capital Management: Boutique alternative asset manager focused on asset-backed lending, specialty finance, and complex credit opportunities. Highly comparable to Kerberos given overlap in strategy and the fact that Kerberos' General Counsel David Proshan previously served as Managing Director (Legal) at Brevet.
- Burford Capital: World's largest publicly traded litigation finance firm, providing capital to commercial litigation and arbitration. Directly comparable to Kerberos' litigation finance / legal finance strategy and provides a public-market benchmark for the niche.
- Omni Bridgeway: Global litigation finance and arbitration funder with a broad portfolio across jurisdictions and case types. Comparable to Kerberos' specialty finance and litigation finance investment strategies, though at meaningfully greater scale.
- Counsel Financial Group: Specialty finance firm providing credit and capital solutions to law firms, comparable to Kerberos' law firm direct lending and specialty finance strategies. A direct competitor in the law firm financing niche.
- Gerchen Keller Capital: Litigation finance and legal asset investment manager that provides capital to law firms and claimants. Directly comparable to Kerberos' litigation finance and asset-backed credit strategy.
- Longford Capital: Private investment firm specializing in commercial litigation finance and legal asset portfolios. Comparable in strategy focus on law firm and litigation-related credit opportunities.
Broad incumbents
- GCM Grosvenor: Large multi-alternative asset manager offering private credit and specialty investment strategies. Kerberos' Finance Associate John Garcia joined from GCM Grosvenor, and the firm is a relevant scaled incumbent competing for similar institutional mandates.
Emerging players
- Balance Legal Capital: Litigation finance firm funding commercial lawsuits and appeals. A smaller, emerging peer in the litigation finance niche where Kerberos also operates, with overlapping but narrower strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Kerberos Capital Management social profiles
Digital presenceKerberos Capital Management compliance and trust
Trust signalCompliance2 records
Kerberos Capital Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Kerberos Capital Management leadership team
Management profileNumber of profiles
Profiles7 records
Kerberos Capital Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Kerberos Capital Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Kerberos Capital Management
What does Kerberos Capital Management do?
Kerberos Capital Management is a boutique alternative asset manager that invests in asset-backed credit and specialty finance opportunities through commingled funds, separately managed accounts, and related mandates. The firm integrates legal and contractual analysis into credit underwriting to evaluate enforceability, recovery pathways, structural protections, and downside risk, providing flexible capital solutions to borrowers and counterparties that traditional lenders cannot evaluate or finance. Target investors include institutional investors, family offices, financial advisors, and high-net-worth individuals.
Is Kerberos Capital Management a public or private company?
Kerberos Capital Management is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Kerberos Capital Management founded?
Kerberos Capital Management was founded in 2018. It employs 11 to 50 people.
Where is Kerberos Capital Management based?
Kerberos Capital Management is headquartered in Chicago, United States, in the North America region.
How does Kerberos Capital Management make money?
Two revenue lines are on record. Investment Management Fees (Management Fees) is the primary driver. The others are performance Fees (Carry).
Who are Kerberos Capital Management's main competitors?
Direct peers on record are Brevet Capital Management, Burford Capital, Omni Bridgeway, Counsel Financial Group, Gerchen Keller Capital and Longford Capital. GCM Grosvenor is listed as a broad incumbent. Balance Legal Capital is listed as an emerging player.
Does Kerberos Capital Management have an API?
No public API is recorded for Kerberos Capital Management.
What industry is Kerberos Capital Management in?
Kerberos Capital Management's product category is Alternative Asset Management (Private Credit and Specialty Finance). Its primary akta.pro industry code is FSAAABAD, Advisory Portfolio Management (Non-Discretionary). Its NAICS code is 523940 and its SIC code is 6282.