MatlinPatterson
 |
|
| Private | |
| Industry | Private equity |
| Founded | 2002 |
| Founder | David J. Matlin, Mark R. Patterson |
| Headquarters | New York, New York, United States |
| Products | Growth capital |
| Total assets | $8.9 billion |
|
Number of employees
|
80 |
| Website | www.matlinpatterson.com |
MatlinPatterson is a distressed securities fund that participates in distressed and credit opportunities on a global basis. The firm was established in 2002 as a spinout from Credit Suisse First Boston. It is headquartered in New York City and has offices in London and Hong Kong. MatlinPatterson was founded by David Matlin and Mark Patterson. MatlinPatterson, through MatlinPatterson Global Advisers, manages private equity vehicles with a distressed-for-control mandate as well as an open-ended strategy seeking non-control credit investment opportunities.
MatlinPatterson is managed by co-founder David Matlin, together with Managing Partner, Peter Schoels and Michael Lipsky. Mr. Schoels has served as Managing Partner since 2009 and is also responsible for management of the illiquid investment portfolio. Mr. Lipsky, who joined the Firm in early 2011, is responsible for management of the liquid investment portfolio. Co-founder Mark Patterson serves as Chairman of MatlinPatterson Group.
In 1994, David Matlin and Mark Patterson formed the Global Distressed Securities Group at Credit Suisse to invest proprietary capital across a wide range of control and non-control distressed opportunities on a global basis. In 2001, the Distressed Group launched its first private equity fund to invest client capital in distressed-for-control situations and wound down its proprietary investment activity. In 2002, David Matlin and Mark Patterson formed MatlinPatterson as an independent entity to succeed to this business and has since sponsored successor distressed-for-control funds in 2003 and 2007, raising approximately $9 billion in total capital commitments across these three funds, with the most recent Fund being a $5 billion Fund raised in 2007.
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