Davidson Kempner Capital Management
The $45 billion multi-strategy hedge fund
In this article, we delve into Davidson Kempner Capital Management, a $45 billion AUM New York-based multi-strategy hedge fund with its roots in risk arbitrage and distressed / high-yield credit investing.
We will learn about the firm’s founders, investment philosophy and process, the backgrounds of their investment team, and more.
Let’s dive in.
Marvin Davidson and Tom Kempner
Davidson Kempner Capital Management was founded by Marvin Davidson in 1983 as a family office to manage his retirement money. Davidson, a former managing partner at Bear Stearns, left Bear Stearns when it became clear that Jimmy Cayne would succeed Alan “Ace” Greenberg.
Motivated by his extensive experience in risk arbitrage and convertible arbitrage, Davidson sought to run his own money in a non-correlated, risk-averse manner.