Park West Asset Management LLC

Park West Asset Management LLC provides discretionary investment management and related administrative services primarily to privately offered pooled investment vehicles organized in master-feeder structures, serving institutional investors, endowments, and high-net-worth investors. The firm manages multiple funds (including PWP and PWI series and Park West BA01) and reports approximately $2.86 billion in discretionary assets under management.

Its investment approach is opportunistic, with a principal emphasis on bottom-up long/short (hedged equity) investing—which it says represents roughly 90% of positions—supplemented by event-driven and opportunistic credit/high-yield strategies. Portfolios are managed with broad discretion and the firm segregates certain illiquid holdings as “Designated Investments” in separate capital accounts, with tailored liquidity and reporting provisions for different investors.

Notably, Park West discloses that neither it nor its management personnel are registered as futures commission merchants, commodity pool operators, or commodity trading advisors and does not indicate commodity trading affiliations—contrasting with a minority of peers in this adviser category. The firm also documents governance features that affect trade allocation and transparency — it expenses research rather than relying on soft dollars and maintains written aggregation and allocation procedures intended to treat fund investors equitably.