Mangrove Partners

What Mangrove Partners does

Mangrove Partners is a privately held, value-oriented hedge fund manager founded in 2010 by Nathaniel August. The firm invests across four core strategies — long/short equity, capital structure arbitrage, stressed and distressed debt, and liquidations/arbitrage — using a screening-based sourcing model that targets mispricings in underfollowed securities and situations involving forced selling or legal complexity. Net exposure is managed to a 0–30% beta range, and the investment objective is to organically compound net worth while minimizing permanent loss of capital.

The firm operates through two fund vehicles: The Mangrove Partners Fund, L.P. (U.S. Fund) and The Mangrove Partners Fund (Cayman), Ltd. (Cayman Fund), structured as a master-feeder to accommodate both U.S. accredited investors and non-U.S. qualified purchasers. Combined performance is reported from January 2013 onward. Mangrove distributes exclusively through private placements to accredited investors and qualified purchasers via a restricted, login-gated website, with no retail offering or public marketing.

The business model is the standard hedge fund 2-and-20 construct: an estimated ~2% annual management fee (0.167% monthly) and a 20% performance allocation on profits. The firm employs roughly 19 professionals split across leadership, investment, and business operations, with notable pedigree from Goldman Sachs, Citadel, Apollo, Credit Suisse, York Capital, and other marquee institutions. Distribution is relationship-driven, targeting family offices, foundations, endowments, pension funds, RIAs, and fund-of-funds.

Name

Mangrove Partners

Legal name

Mangrove Partners

Website

https://mangrovepartners.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Mangrove Partners is a Greenwich, Connecticut–based, value-oriented hedge fund manager founded in 2010 that runs long/short, capital structure arbitrage, stressed/distressed, and liquidations strategies through U.S. and Cayman feeder funds for accredited and qualified institutional investors.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: The firm charges monthly management fees estimated at 0.167% of assets under management. This provides a recurring revenue stream based on fund size.
2. Performance Allocation: The firm charges a 20% performance allocation (incentive fee) on profits generated for investors. This aligns manager and investor interests and provides upside participation in fund performance.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Mangrove Partners is a value-oriented investment management firm that manages two private hedge fund vehicles (a U.S. limited partnership and an offshore Cayman fund) for accredited and qualified investors. The firm employs four core strategies—long/short equity, capital structure arbitrage, stressed and distressed debt, and liquidations/arbitrage—through a methodical, screening-based sourcing model targeting underfollowed and dislocated securities. The objective is to organically compound net worth while minimizing the risk of permanent loss of capital.

Product overview

Mangrove Partners is a value-oriented investment management firm offering two hedge funds: The Mangrove Partners Fund, L.P. (U.S. Fund) and The Mangrove Partners Fund (Cayman), Ltd. (Cayman Fund). The firm employs four core investment strategies—long/short equity, capital structure arbitrage, stressed and distressed debt, and liquidations and arbitrage—all executed through a methodical screening-based sourcing model that focuses on pre-identified situations resulting from market dislocations, company-specific news, and forced selling. The firm provides a restricted investor portal for fund subscribers to access investor letters and fund information.

Differentiator

Problem solved

Functional benefit

Products and services

• The Mangrove Partners Fund, L.P. U.S. feeder fund for accredited and qualified U.S. investors, offering the firm's opportunistic, value-oriented investment strategies. Combined performance reporting with the Cayman Fund began in January 2013.
• The Mangrove Partners Fund (Cayman), Ltd. Offshore feeder fund for non-U.S. investors and certain tax-advantaged U.S. investors, offering the same investment strategies as the U.S. Fund within a master-feeder structure.
• Long/Short Equity Strategy Long positions focus on restructurings, companies trading at substantial discounts to asset value, and underappreciated businesses at low multiples; short positions target companies with flawed business plans, fraud, or fads. Net exposure managed to 0-30% beta and delta adjusted.
• Capital Structure Arbitrage Strategy Exploits mispricing within a company's capital structure through naturally hedged investments across debt and equity instruments of the same issuer.
• Stressed and Distressed Strategy

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Sandler Capital Management: Value-oriented long/short equity and event-driven hedge fund targeting institutional and HNW investors. Comparable strategy mix and distribution approach.
• Hayman Capital Management: Value-oriented hedge fund pursuing opportunistic long/short and special-situations strategies. Overlapping investment philosophy and accredited-investor distribution model.
• Caspian Capital: Special-situations and credit-focused hedge fund with overlapping stressed/distressed and event-driven strategies. Comparable size and target investor base to Mangrove.
• York Capital Management: Event-driven value and special-situations hedge fund where Mangrove Senior Analyst Ryan Polisi was a Managing Director. Highly comparable multi-strategy event-driven mandate.
• Marble Ridge Capital: Value/distressed hedge fund where Mangrove Senior Analyst Steve Schembri was previously Partner and Head of Research. Directly comparable credit and special-situations orientation.
• White Eagle Partners: Value/event-driven hedge fund where founder Nathaniel August served as Director prior to founding Mangrove. Direct pedigree and strategy comparable.
• Brenham Capital: Value-oriented long/short and distressed hedge fund. Similar focus on underfollowed names and event-driven opportunities, with comparable AUM scale.
• Brahman Capital Partners: Value-oriented, event-driven hedge fund where founder Nathaniel August worked as Senior Analyst. Closely comparable strategy mix and founder lineage to Mangrove Partners.

Broad incumbents

• Davidson Kempner Capital Management: Large, established event-driven and value hedge fund operating across distressed, convertible arb, and special situations. Same strategy family as Mangrove but at materially greater scale.

Emerging players

• Clearfield Capital Management: Special-situations credit fund where Mangrove's Assistant Trader Andrew Rollins previously worked. Comparable size and strategy emphasis, useful for talent-flow benchmarking.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Mangrove Partners