Whippoorwill Associates Inc

Whippoorwill Associates is an investment manager that serves pooled private investment funds and institutional investors, including endowments, foundations, insurance companies, pension plans and family offices. The firm provides discretionary management of its private funds and related liquidation activities and is not accepting new investors into those funds.

Historically, Whippoorwill specialized in distressed and special-situation credit across small-cap and middle-market companies, deploying capital into secured and unsecured bonds, bank debt, trade claims, DIP and rescue financings and participating in restructurings that can produce new equity or restructured debt. Currently its advisory activities are limited to winding out a small number of remaining illiquid, minority holdings (Designated Investments) in accordance with each fund’s operative agreements.

Unlike many active managers, Whippoorwill is in the process of winding down its advisory business and is focused on orderly liquidation rather than sourcing new investments. The firm continues to operate with traditional asset-based and performance-allocation structures and still compensates placement agents under existing arrangements, although the funds’ liquidation status makes future incentive allocations unlikely.