Those capabilities are poised to continue thanks to the firm’s thoughtful leadership transition, which took a major step in 2020. That’s when firm founder Mark Shenkman, who remains president and majority shareholder, reduced his day-to-day involvement and ceded co-CIO duties to Justin Slatky, who became sole CIO. Slatky has since taken charge of the seasoned, bottom-up approach that has characterized the firm since its 1985 start. With Slatky prioritizing the firm’s core competencies in high-yield bonds and bank loans, Shenkman’s assets under management reached a new high-water mark at USD 33 billion in June 2024(about 80% of which came from US high-yield-and bank-loan-focused strategies).
Slatky is far from alone in guiding the firm’s future. Most of its key investment decision-makers own shares in the business, facilitating high investment team retention. Compensation incentives also reinforce an investor-centered approach to running the business. Risk-adjusted performance measures figure prominently in how the firm evaluates team members, encouraging them to stick with the defensive investment approach that the firm has long championed.
United States