AI Hedge Awards 2017

12 Acquisition International - Hedge Fund Awards 2017 Best Speciality Credit-Focused Investment Adviser - North America CohanzickManagement Cohanzick Management is an investment advisor and manager working across a wide range of credit focused strategies. We invited Founder and President David Sherman to provide us with a fascinating insight into his firm and the services it offers. Company: Cohanzick Management, LLC Name: David Sherman, President & Portfolio Manager Alyson Gardner, Director of Communications Email: [email protected] [email protected] Web: www.cohanzick.com Address: 427 Bedford Road Pleasantville, NY 10570 Phone: 914-741-9600 HF170031 Established in 1996, Cohanzick Management became an SEC registered investment advisor in April 2009, and has since grown to have assets under management in excess of $1.6 billion, including mutual funds, alternative funds and managed accounts. David talks us through the solutions the firm provides within the hedge fund space. “Specifically within the hedge fund space we offer two strategies: a long high yield credit opportunities fund as well as a short-biased credit fund (primarily investment grade). We provide portfolio level transparency and encourage an open dialogue with our investors. In addition, we also offer separate accounts that employ customized combinations of the three mutual funds (RiverPark Short-Term High Yield, RiverPark Strategic Income, and Collins Long/Short Credit Fund) and our two private fund mandates.” Serving clients including high-net worth individuals, family offices, institutional asset managers, pensions and endowment funds, risk is a key issue, as many of these investors require secure investments as they rely on these for income. As such Cohanzick Management takes a proactive approach to risk, as David emphasises. “Risks to the portfolios are actively monitored. Some risks include market liquidity, credit quality and interest rate volatility. Some of these issues are mitigated by the nature of the investment selection, portfolio management and a disciplined approach. Understanding of the business model, legal structure and market dynamics for each subject credit are paramount in our consideration of risk and permanent loss of principal.” What truly sets Cohanzick Management apart is its focus on transparency and client support, as it seeks to offer investors the very best returns possible. “Our biggest differentiator is our long-standing commitment to transparency and access. While we send out an extensive Quarterly analysis, we hope and expect to communicate with clients on a frequent basis either via email, on a call or in person. We value our clients’ input and, in many cases, view them as an additional analytical resource when they have relevant business experience in an industry or sector.” “Ultimately, we believe fees need to reflect a level of reasonableness in conjunction with services provided. Benchmark strategies deserve benchmark fees and unique or specialized strategies deserve a premium. However, very few managers and strategies justify the historic fee structure of the hedge fund industry. Further, clients deserve transparency and detailed reports as well as active engagement with investment managers, as fundamentally it is their money we are investing.” In order to offer this quality client service, the firm needs the support of its staff, and as such David, who is very proud of the work his teams undertake, discusses the firm’s inclusive culture and focus on providing staff with the same level of support as clients. “The varied background of our personnel, including sell side, buy side and corporate investing as well as operating managerial experience results in a unique perspective which we are very proud of here at Cohanzick Management. We value the input that comes with these diverse experiences as they enhance our understanding of credits. The firm has 10 employees, six working in investment and four operations professionals. Each of the three most senior members of the investment team have over 25 years of industry experience, including portfolio management responsibilities. The other members of the investment team each have over 15 years of experience. Each member of the operations team has at least 15 years of relevant financial services experience. “What truly sets Cohanzick Management apart is its focus on transparency and client support , as it seeks to offer investors the very best returns possible .”