Solus Alternative Asset Management LP (New York)

Name: Solus Alternative Asset Management LP
Address: 410 Park Avenue, New York, NY, 10022
Telephone: 212-284-4300

Solus Alternative Asset Management LP is a large advisory firm based in New York. It manages $6.43 billion of regulatory assets for 30 client accounts. It has been registered with the SEC as an adviser since 2007.

Solus Alternative Asset Management provides portfolio management for pooled investment vehicles and providing investment advisory services to managed accounts. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Solus Alternative Asset Management: assets under management

The assets under management (AUM) of Solus Alternative Asset Management LP is $6.43 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 173% since the beginning of its operation, and $3.81 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $6.43 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $214.36 million each.

Solus Alternative Asset Management has custody of $6.42 billion in cash and securities for 28 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in non-exchange traded securities the most. They account for 57% of the total AUM. The second-largest asset type is exchange traded securities, which make up 28% of the firm’s portfolio. Investments in non-investment grade corporate bonds form 9% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Solus Alternative Asset Management LP for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Solus Alternative Asset Management serves?

The only and largest group of clients of Solus Alternative Asset Management is pooled investment vehicles with 28 clients and $6.42 billion of assets under management. Among the 10 most similar advisory firms, Solus Alternative Asset Management has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $6.42 billion for 28 clients. 43% of the firm’s clients are foreign persons or businesses.

Solus Alternative Asset Management also advises several private funds. Namely, eleven hedge funds. The minimum investment commitment required of non-related persons ranges from $0 to $10,000,000.

Careers at Solus Alternative Asset Management LP

The company employs 59 people that are either part- or full-time employees. 32 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Christopher Anthony Pucillo	Limited partner, chief executive officer and chief investment officer	1 Apr 2007	25% - 50%	1697828
Solus Gp Llc	General partner	1 Apr 2007	Other	26-0173207
Colette Klisivitch	Chief compliance officer	1 May 2007	Other	5340258
Nicholas Signorile	Chief financial officer and chief operating officer	1 Jul 2007	Other	2758073
Christopher A. Bondy	Evp, chief economist and strategist	1 Jul 2007	Other	4370053
Steven John Renehan	Evp, chief executive officer	1 Jul 2007	Other	1289531
Gordon Yeager	Managing director, chief risk and operations officer	1 Jul 2007	Other	2436016
Joseph William Lonetto	Chief legal officer	1 Aug 2007	Other	5416345
Gordon Yeager	Limited partner, evp, chief risk and operations officer	1 Jan 2010	Other	2436016
David Scott Brosgol	General counsel	1 Apr 2010	Other	5785689
David Scott Brosgol	General counsel and chief compliance officer	1 Apr 2011	Other	5785689
Charles Lanktree	Limited partner, evp and portfolio manager	1 Mar 2012	Other	4645434
Richard T. Cosgrove	Chief compliance officer	1 Mar 2012	Other	6045933
Scott Martin	Limited partner, evp and portfolio manager	1 Mar 2012	Other	2457623
Wight Martindale	Limited partner, evp and director of business development	1 Mar 2012	Other	1541665
Charles J Lanktree	Evp & portfolio manager	1 Mar 2012	Other	4645434
Scott Gregory Martin	Evp & portfolio manager	1 Mar 2012	Other	2457623
Steven John Renehan	Retired partner--no longer actively involved in business	1 Jan 2013	Other	1289531
Bsch Master I Sub (Sol Mgr) L.P.	Limited partner	1 Mar 2015	Other	none
Richard Dennis Chase	Chief financial officer	1 Mar 2016	Other	1770815

Indirect Owners

The SEC currently registers 8 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Alaska Permanent Fund Corporation	Limited partner	1 Dec 2013	50% - 75%	92-6001185
Bsch A Intermediate L.P.	Limited partner	1 Jan 2014	50% - 75%	46-4620182
Blackstone Strategic Capital Holdings L.P.	Limited partner	1 Jan 2014	25% - 50%	80-0956089
Blackstone Strategic Capital Associates L.L.C.	General partner	1 Mar 2015	Other	90-1022649
Bsch Master I L.P.	Limited partner	1 Mar 2015	75% - 100%	46-4629101
Bsch A (Sol Mgr) L.L.C.	General partner	1 Mar 2015	Other	47-2592516
Blackstone Strategic Capital Holdings (Cayman) L.P.	Sole member	1 Mar 2015	75% - 100%	98-1135363
L.P. Asf Pollock	Limited partner	1 Apr 2018	25% - 50%	82-4411915

Based in New York

The principal office where Solus Alternative Asset Management LP performs its advisory services is located at 410 Park Avenue, New York, NY 10022, which is also the mailing address of the firm. An additional office of the firm is in Summit, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-284-4300 or by fax 212-284-4338. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at soluslp.com/.