Glendon Capital Management L.P.

Glendon Capital Management L.P. is an SEC‑registered investment adviser that primarily manages pooled private funds (Glendon Opportunities Fund I–III and fundraising for G4) and institutional separately managed accounts, offering discretionary portfolio management and sub‑advisory services. The firm’s brochure reports approximately $5.24 billion in regulatory assets under management (as of December 31, 2025) and indicates it serves institutional investors and certain high‑net‑worth and family‑office clients through fund and separate account structures.

The firm focuses on credit opportunities and special situations arising from market distress or dislocation, investing across bank loans, public and private corporate bonds, asset‑backed securities, bankruptcy claims and post‑reorganization securities while emphasizing conservative underwriting and downside protections. Glendon’s stated investment program regularly contemplates use of derivatives, short positions and leverage for investment and hedging purposes, and its investment decisions are overseen by a partner‑led investment committee that draws on prior institutional credit experience.

The brochure highlights a few features that are less common among peers: it discloses predecessor performance and team experience managing a Barclays account (2007–2014) and describes active fundraising and marketing practices (including engagement of a placement agent, PJT, and a public LinkedIn presence). It also documents the firm’s approach to derivatives in client accounts and notes that a Glendon general‑partner entity has claimed an exemption under CFTC Rule 4.13(a)(3), indicating a CPO‑related filing and the use of public‑facing and agent‑assisted marketing channels that can include endorsement‑style or testimonial‑type communications.