What Anchorage Capital Advisors does

Anchorage Capital Advisors, L.P. is a private, credit-oriented alternative investment firm formed in 2022 as the successor organization to Anchorage Capital Group, L.L.C. The firm manages $27.8 billion in assets under management as of March 31, 2026, and operates from headquarters in New York (610 Broadway, 6th Floor) with a European office in London (20 Thayer Street). It is structured as a Delaware/New York limited partnership, led by Co-Chief Investment Officers and Managing Principals Yale Baron (28 years industry experience, formerly head of global CLO at JP Morgan) and Thibault Gournay (26 years experience, formerly at Goldman Sachs distressed desk and Greywolf Capital). Anchorage serves institutional investors — including pension funds, endowments, family offices, and sovereign wealth funds — across U.S. and European markets, marketing its funds under AIFMD in EEA member states. It does not disclose revenue or operate as a public company.

The firm's product platform consists of four integrated credit strategies: (1) Performing Credit — actively managed CLO/CDO portfolios in U.S. and Europe combining term-financing with active portfolio management; (2) Structured Credit — secondary structured credit investing across U.S. and Europe; (3) Credit Opportunities & Distressed — flexible strategies targeting dislocated credit, special situations, structured credit, and uncorrelated investments, supported by deep restructuring expertise; and (4) Customized Strategies & Co-Investments — tailored vehicles including dislocation strategies, single-name co-investments, and separately managed accounts, customized by asset type, liquidity, leverage, theme, and vehicle. The investment process combines bottom-up fundamental research with active trading, and is executed by an integrated U.S./European team of partners, managing directors, and senior professionals from Goldman Sachs, JP Morgan, Morgan Stanley, Deutsche Bank, Barclays, Brigade Capital, and other credit-focused institutions.

Anchorage generates revenue through management fees and performance/carried interest fees on its credit-oriented funds across multiple strategy vintages. Distribution is conducted via direct institutional sales through dedicated Business Development and Investor Relations teams in New York and London. The firm maintains a PRI (Principles for Responsible Investment) signatory status with internal ESG committee oversight, a CTO/CISO-led technology and operations backbone (Software Engineering, IT/Infrastructure, Middle Office, Treasury, Portfolio Analytics, Compliance), and two Co-General Counsels plus a Chief Compliance Officer. Recent notable capital deployments include participation in a $1 billion investment in Nxtra Data Limited (Bharti Airtel's data centre subsidiary) alongside Alpha Wave Global and Carlyle Group in March 2026, and acquisition of ownership in At Home Group through its Chapter 11 restructuring in October 2025.

Name

Anchorage Capital Advisors

Legal name

Anchorage Capital Advisors, L.P.

Website

https://anchoragecapital.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

Anchorage Capital Advisors is a private, credit-oriented alternative investment firm managing $27.8 billion in AUM (as of March 2026) across performing credit, structured credit, distressed/special situations, and customized strategies, serving institutional investors in the U.S. and Europe.

Ownership category

akta.pro rank

Product category

Credit-Oriented Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Construction & Asset Allocation Advisory (FSAEAAAC)

akta.pro secondary industry

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

Keywords

• Credit investment management
• Alternative asset management
• Structured credit strategies
• Distressed debt investing
• Institutional fund management

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

Revenue model

1. Asset Management Fees: Anchorage generates revenue through management fees and performance/carried interest fees from managing credit-oriented investment funds across multiple strategies including performing credit, structured credit, special situations, and distressed credit. The firm manages $27.8 billion in assets under management as of March 2026.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Anchorage Capital Advisors is a global credit-oriented investment firm that manages $27.8 billion in assets across performing credit, structured credit, distressed debt, special situations, and customized strategies including co-investments and separately managed accounts. The firm combines bottom-up fundamental research with active trading and serves institutional investors in U.S. and European markets.

Product overview

Anchorage Capital Advisors is a global credit-oriented investment firm offering a suite of integrated investment products. The core offerings consist of four main strategies: Performing Credit (actively managed CLO/CDO portfolios in U.S. and Europe), Structured Credit (secondary structured credit investing), Credit Opportunities (distressed and special situations with restructuring expertise), and Customized Strategies including co-investments and separately managed accounts. These strategies can be tailored by asset type, liquidity, leverage, theme, and vehicle to meet investor needs. The firm primarily invests across the corporate credit spectrum throughout company capital structures in U.S. and Europe.

Differentiator

Problem solved

Functional benefit

Products and services

• Performing Credit

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Principles for Responsible InvestmentcoreOthersAnchorage is a signatory to the UN-supported Principles for Responsible Investment (PRI), committing to ESG integration in investment decision-making processes and implementation of the PRI's Six Principles.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Ares Management: Ares is a leading publicly traded alternative manager with major credit, direct lending, and structured credit franchises. It overlaps with Anchorage across performing credit and structured credit strategies at substantially larger AUM scale.
• Carlyle Group: Carlyle is a global alternative asset manager with sizable credit and structured credit strategies. Co-invested with Anchorage in the $1B Nxtra Data deal, evidencing direct overlap in institutional deal flow and credit strategy execution.
• Apollo Global Management: Apollo is one of the largest alternative asset managers with a massive credit and structured credit franchise (Athene, Apollo Credit). It competes with Anchorage in performing credit, structured credit, and distressed, but at much greater scale and broader product breadth.

Direct peers

• Cerberus Capital Management: Cerberus is a global alternative investment firm with significant credit, distressed, and special situations strategies. It shares Anchorage's focus on restructuring, opportunistic credit, and serving institutional investors across U.S. and Europe.
• King Street Capital Management: King Street is a global credit-focused alternative manager with strategies spanning performing credit, distressed, and special situations. Comparable institutional LP base and credit-cycle strategy mix to Anchorage.
• Centerbridge Partners: Centerbridge is a multi-strategy alternative manager with deep credit, distressed, and special situations franchises. Similar institutional client focus and transatlantic operational footprint to Anchorage.
• Avenue Capital Group: Avenue Capital is a credit-focused alternative manager investing in distressed debt, special situations, and performing credit globally. Its strategy mix and institutional focus align closely with Anchorage's product offering.
• Oaktree Capital Management: Oaktree is one of the largest credit-oriented alternative managers, specializing in distressed debt, special situations, structured credit, and performing credit. Its strategies, AUM scale, and institutional client base closely mirror Anchorage's product set and target market.
• Assured Investment Management: Assured (formerly BlueMountain Capital) is a credit-focused alternative manager across structured credit, performing credit, and special situations. Similar strategy mix and institutional LP base to Anchorage.
• Brigade Capital Management: Brigade Capital is a credit-oriented hedge fund manager focused on leveraged loans, high yield, structured credit, and special situations. Multiple alumni work at Anchorage, evidencing direct overlap in strategy and team pedigree.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/anchorage-capital-advisors

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Anchorage Capital Advisors