York Capital Management

York Capital Management
Company typeLLC
IndustryHedge fund
Founded1991; 34 years ago (1991)
FounderJamie Dinan (CEO)
Headquarters767 5th Avenue, New York City, NY
International Offices in London, England, Hong Kong
Area served
Worldwide
AUMUS$ 18.5 billion
(as of June 30, 2019)[1]
Websitehttp://www.yorkcapital.com

York Capital Management is a global institutional investment management firm with approximately $18.5 billion in assets under management as of June 2019.[1] The firm was founded in 1991 by Jamie Dinan.

York Capital is headquartered in New York City, with additional offices in London and Hong Kong. As of December 2012, York Capital was ranked as the 20th largest hedge fund in the world.[2]

In 2010, Credit Suisse acquired a 30% stake in York Capital for $425 million.[3][4]

History

York Capital was founded in 1991 by Jamie Dinan and named after the street he was then living on, York Avenue.[5] Jamie Dinan started his career at the merger arbitrage firm Kellner DiLeo & Company.[5] In 1987, the market crashed and he lost his entire $600,000 in savings.[5] In 1991, he was able to raise $3.6 million from his former DLJ colleagues and started York Capital.[5] In 1993, his fund earned credibility with a 33.8 percent return and by 2000, the fund had over $610 million in assets.[5]

In February 2023, York Capital Management portfolio company American Car Center ended operations.[6]

Investment strategies

York Capital uses a fundamental analysis, bottom-up approach to make its investments.[2] The firm focuses on three event-driven investing strategies: merger and acquisition transactions, distressed securities and restructuring opportunities and special situation equity investing.[4]

York Capital Funds

Global Multi-Strategy Funds

  • York Multi-Strategy
  • York Select
  • York Total Return

Distressed Opportunities Funds

  • York Credit
  • York Credit Income

Regional Multi-Strategy Funds

  • York European Opportunities
  • York Asian Opportunities[2]

References

  1. ^ a b "The largest managers of hedge funds (P&I Sep 2019)". No. Special Report Hedge Funds. United States: Pensions & Investments. Crain Communications Inc. 16 September 2019. Retrieved 15 October 2019.
  2. ^ a b c "Hedge Fund Journal"
  3. ^ "Wall Street Journal"
  4. ^ a b "New York Times Deal Journal"
  5. ^ a b c d e Bloomberg: "York Capital's Dinan Finds Value in Tel Aviv Funds, Tyco Duplex" By Richard Teitelbaum September 7, 2006
  6. ^ Arroyo, Carmen (25 February 2023). "Subprime Auto Lender American Car Center Closes for Business". Bloomberg.com. Retrieved 25 February 2023.