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Episode Description:

Tony Yoseloff is the Managing Partner of Davidson Kempner Capital Management, a forty-year-old, $40 billion multi-strategy investment management firm that specializes in opportunistic credit and event-driven investing. Tony joined DK twenty-five years ago out of business school and became its third Managing Partner in 2019. He also sits on the investment committees of Princeton University, Columbia-Presbyterian Hospital, and New York Public Library.

Our conversation covers the early days of Davidson Kempner, growth over the last quarter century, team, investment philosophy, investment strategy, risk management, and ownership. We discuss Tony’s experience on investment committees, the role of opportunistic credit in institutional portfolios, and the future of Davidson Kempner over the next forty years.

Show Notes
03:38 Tony’s background
09:06 Davidson Kempner’s investment DNA
11:43 Milestones and growth of the business
16:55 International expansion
21:01 Medium duration investing
25:53 Evaluating and adopting new strategies
28:38 Structure of team
32:48 Management philosophy
34:51 Idea generation
41:02 Risk management
45:42 Importance of private partnership
47:53 Successful leadership transition
49:59 Experience on investment committees
53:23 Opportunistic credit in institutional portfolios
55:56 Davidson Kempner’s next 40 years
59:08 Closing questions

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