Clients
Brigade Capital Management serves 111 clients, 77 of them pooled investment vehicles. The average client has about $297 million with the firm.
- Investment companies5 clients6%
- Pooled investment vehicles77 clients67%
- Pension and profit-sharing plans18 clients11%
- State or municipal government entities11 clients15%
- OtherInsurance companies, Sovereign wealth funds and foreign official institutions, Corporations and other businesses1%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Investment companies | 5 | $2,138,000,291 | 6.5% | $427.6M |
| Pooled investment vehicles | 77 | $22,008,389,005 | 66.6% | $285.8M |
| Pension and profit-sharing plans | 18 | $3,675,833,208 | 11.1% | $204.2M |
| State or municipal government entities | 11 | $4,938,960,882 | 15.0% | $449.0M |
| Insurance companies | Not reported | $183,834,517 | 0.6% | — |
| Sovereign wealth funds and foreign official institutions | Not reported | $8,953,917 | 0.0% | — |
| Corporations and other businesses | Not reported | $68,173,846 | 0.2% | — |
| Total | 111 | $33,022,145,666 | 100% | $297.5M |
- Clients
- 5
- Regulatory AUM
- $2,138,000,291
- Share
- 6.5%
- Avg. per client
- $427.6M
- Clients
- 77
- Regulatory AUM
- $22,008,389,005
- Share
- 66.6%
- Avg. per client
- $285.8M
- Clients
- 18
- Regulatory AUM
- $3,675,833,208
- Share
- 11.1%
- Avg. per client
- $204.2M
- Clients
- 11
- Regulatory AUM
- $4,938,960,882
- Share
- 15.0%
- Avg. per client
- $449.0M
- Clients
- Not reported
- Regulatory AUM
- $183,834,517
- Share
- 0.6%
- Avg. per client
- —
- Clients
- Not reported
- Regulatory AUM
- $8,953,917
- Share
- 0.0%
- Avg. per client
- —
- Clients
- Not reported
- Regulatory AUM
- $68,173,846
- Share
- 0.2%
- Avg. per client
- —
Total
- Clients
- 111
- Regulatory AUM
- $33,022,145,666
- Share
- 100%
- Avg. per client
- $297.5M
What it does
Brigade Capital Management provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.
Brigade Capital Management advises 64 private funds.
100.0% of assets ($33.02B across 115 accounts) are managed with discretion. 67% of clients are outside the U.S., and 1 clients received advice without assets under management last fiscal year.
What the accounts hold
The filed percentages total 96%. The values below are shown as filed.
- Non-exchange-traded equity securities
- 4%
- U.S. government/agency bonds
- 6%
- Investment grade corporate bonds
- 1%
- Non-investment grade corporate bonds
- 42%
- Cash and cash equivalents
- 12%
- Other (Bankruptcy Claims, Bank Debt, Abs, Clo, Whole Loans)
- 31%
Custodians
Brigade Capital Management’s client accounts are held mainly at The Bank of New York Mellon, with 7% of managed assets, and State Street Bank and Trust, with 6%. Brigade Capital Management has custody of $268.0M for 1 clients.
- The Bank of New York MellonThe Bank of New York Mellon · New York, NY · $2.33B7%
- State Street Bank and TrustState Street Bank and Trust Company · North Quincy, MA · $1.91B6%
- Goldman Sachs &Goldman Sachs & Co. LLC · New York, NY · $1.52B5%
- All other custodians$27.26B83%
Ownership and leadership
Donald Morgan owns 25% to 50% of Brigade Capital Management.
- Owns 25% to 50% of Brigade Capital Management, LP
Donald Morgan
Control person · since January 2007
- Owns 10% to 25% of Brigade Capital Management, LP
Douglas Pardon
since March 2007
- Owns 5% to 10% of Brigade Capital Management, LP
Rosario Diminni
Control person · since January 2007
- Owns 5% to 10% of Brigade Capital Management, LP
Morgan 2022 Trust
since January 2023
- Owns 5% to 10% of Brigade Capital Management, LP
Steven Bleier
since January 2011
Leadership
- Raymond LuisSenior Vice President, Finance/Chief Administrative Officer
- Patrick CriscilloChief Financial Officer
- Aaron DanielsChief Operating Officer/Chief Legal Officer
- Daniel AltabefChief Compliance Officer/Counsel
- Kunal BanerjeePartner, Research
- John BaylisPartner, Research
- Steven BleierCo-Chief Investment Officer/Portfolio Manager
- Alessandro CarissimoPartner, Research
- Christopher ChaiceHead of Distressed Research
- Rosario DiminniCo-Head of Trading
- Raymond GarsonHead of Corporate Credit Research
- Michael KreicherHead of Mortgage & Asset-Backed Credit
- Luc LebardPartner, Research
- Jenny LeeCo-Head of Private Credit
- Harley LefkowitzHead of Risk
- Donald MorganChief Investment Officer/Managing Partner/Portfolio Manager
- Thomas O'SheaHead of European Investments/European Clo Co-Portfolio Manager
- Douglas PardonCo-Chief Investment Officer/Portfolio Manager
- Justin PauleyHead of Clo Capital Markets
- Matthew PerkalHead of Spacs and Special Situations
- Andrew PetitjeanGlobal Clo Portfolio Manager
- Patrick RobbPartner, Research
- Sumit SablokPartner, Research
- Gregory SoederHead of Portfolio Strategy
- Gaurav TejwaniPortfolio Manager
- Joseph TurilliHead of Marketing
- Michael WalkerCo-Head of Trading
- Edward WilkinsonPartner, Marketing
- James WolfCo-Head of Private Credit
Staff
- 108 employees
- 42 in advisory functions
Reported holdings
Brigade Capital Management’s reported 13F holdings total $534.3M across 15 positions, and the ten largest make up 97.4% of it.
- $534.3M
- Reported 13F value
- 15
- Positions
- 97.4%
- In the 10 largest
- −33.7%
- Value vs. prior quarter
- iShares TR · 20 YR TR BD ETFPut48.5%
- iShares TR · Russell 2000 ETFPut16.9%
- Lantheus Hldgs Inc. · Note 2.625%12/111.7%
- Lantheus Hldgs Inc.6.8%
- iShares TR · Iboxx HI YD ETFPut6.0%
- Expand Energy Corporation1.8%
- Vistra Corp.1.5%
- Finance OF America Compan · CL A New1.4%
- Lumexa Imaging Holdings Inc.1.4%
- United Airls Hldgs Inc.1.4%
Together, the ten largest are 97.4% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $534.3M is not its $33.02B in regulatory assets and does not represent any individual client's portfolio.
Fees
Brigade Capital Management is paid through a percentage of assets under management and performance-based fees.
Brigade Capital Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Brigade Capital Management has 1 office (1 private residence, listed without an address), with 1 listed address in 1 state.
New York · 1 listed address
- 399 Park Avenue, 16th Floor, New YorkHQ
Registration details
- Legal name
- Brigade Capital Management, LP
- Headquarters
- 399 Park Avenue, 16th Floor, New York, NY 10022-4415
- Phone
- 212-745-9700
- Website
- www.brigadecapital.com
- SEC file
- 801-69965
- Structure
- Delaware limited partnership
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Brigade Capital Management have?
Brigade Capital Management has 111 clients and manages $33 billion for them, as of July 2026. They include 77 pooled investment vehicles, 18 pension and profit-sharing plans and 11 state or municipal government entities.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 22 July 2026
What services does Brigade Capital Management offer?
Brigade Capital Management provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Brigade Capital Management use?
Brigade Capital Management’s separately managed account assets are held at The Bank of New York Mellon (New York, NY), with $2,333,768,435, State Street Bank and Trust Company (North Quincy, MA), with $1,912,049,838 and Goldman Sachs & Co. LLC (New York, NY), with $1,515,198,726. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 22 July 2026
How many financial advisors does Brigade Capital Management have?
Brigade Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 108 employees, and 42 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Brigade Capital Management invest in?
At the end of its last fiscal year, Brigade Capital Management’s separately managed accounts held 42% high-yield corporate bonds, 31% bankruptcy claims, bank debt, abs, clo, whole loans, 12% cash and equivalents, 6% U.S. government and agency bonds, 4% non-exchange-traded equities and 1% investment grade corporate bonds. It advises 64 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Brigade Capital Management?
Brigade Capital Management’s direct owners are Donald Morgan, Rosario Diminni, Morgan 2022 Trust, Steven Bleier and Douglas Pardon, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 22 July 2026
How does Brigade Capital Management get paid?
Brigade Capital Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file