Davidson Kempner Capital Management

Davidson Kempner Capital Management is a global institutional alternative investment management firm with over $34 billion in assets under management. Davidson Kempner is headquartered in New York City, with additional offices in London, Dublin, Hong Kong and Philadelphia. The firm is led by Anthony A. Yoseloff who serves as Executive Managing Member and Chief Investment Officer.

As of September 17, 2018, Davidson Kempner was ranked as the 9th largest hedge fund in the world.

Davidson Kempner has approximately 347 employees in the firm’s five offices. The firm is headquartered at 520 Madison Avenue in New York, New York.

History

Davidson Kempner was founded in May 1983 by Marvin H. Davidson and was initially named M.H. Davidson & Co. Thomas L. Kempner, Jr. joined the firm in December 1984 and was promoted to partner in 1986 and appointed to executive managing member in January 2004. The firm opened to outside capital in 1987 and was registered as an investment adviser with the Securities and Exchange Commission in 1990. Anthony A. Yoseloff joined in August 1999 and became a managing member in January 2004. Yoseloff became co-deputy executive managing member in January 2012, and co-executive managing member with Kempner as of January 1, 2018.[citation needed] Kempner retired at the end of 2019.

Investments

In Summer 2020, the firm rescued Virgin Atlantic with $170 million of emergency funding to help offset the impact of the COVID-19 pandemic on the airline.

In February 2021, an agreement was signed with Alpha Bank of Greece for the acquisition of an 80% equity stake in the asset management vehicle Cepal Holdings which manages approximately €10.8B of bad assets. At the same time, 51% of mezzanine and junior debt of a related vehicle called Galaxy was acquired by Davidson Kempner. The transaction closed in June 2021, with a valuation of the 80% stake at €120M, with total capitalization of the "new" Cepal at €262M, of which €105M is provided through a new loan arranged by Alpha Bank and EBRD.