Anchorage Capital Advisors, L.P.
SEC-registered
Private Fund Manager · Large ($10B–$100B)
CRD 328998
· SEC file 801-129231
· New York, NY
· WWW.ANCHORAGECAPITAL.COM
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ADV data as of May 20, 2026
- Regulatory AUM
- $27.8B
- Discretionary
- $27.8B
- Clients
- 116
- Avg AUM / client
- $240M
- Accounts
- 116
- Employees
- 88
AUM over time
$20.9B
$27.8B
Nov 2023
May 2026
Annual snapshots from Form ADV filings · as of May 20, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 114 | $27.0B | 97.1% |
| State or municipal government entities | 2 | $801M | 2.88% |
Private funds (66)
View all →Reported in Form ADV Section 7.B.(1), filing of Nov 2024 · $23.6B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Anchorage Credit Opportunities Master Fund Viii (A), L.P. master | Hedge Fund | Cayman Islands | $1.3B | 86 |
| Anchorage Credit Funding 4, Ltd. | Securitized Asset Fund | Cayman Islands | $666M | 0 |
| Anchorage Credit Opportunities Master Fund Ix (A), L.P. master | Hedge Fund | Delaware | $627M | 14 |
| Anchorage Structured Energy Transition Master Fund, L.P. master | Hedge Fund | Delaware | $586M | 56 |
| Anchorage Credit Funding 13, Ltd. | Securitized Asset Fund | Cayman Islands | $555M | 0 |
| Anchorage Capital Clo 7, Ltd. | Securitized Asset Fund | Cayman Islands | $531M | 0 |
| Anchorage Capital Clo 9, Ltd. | Securitized Asset Fund | Cayman Islands | $526M | 0 |
| Anchorage Capital Europe Clo 2021 4 Dac | Securitized Asset Fund | Ireland | $479M | 0 |
| Anchorage Capital Clo 13, Ltd. | Securitized Asset Fund | Cayman Islands | $479M | 0 |
| Anchorage Capital Clo 19, Ltd. | Securitized Asset Fund | Cayman Islands | $479M | 0 |
| Anchorage Capital Clo 4 R, Ltd | Securitized Asset Fund | Cayman Islands | $475M | 0 |
| Anchorage Credit Funding 1, Ltd. | Securitized Asset Fund | Cayman Islands | $467M | 0 |
| Anchorage Capital Europe Clo 5 Dac | Securitized Asset Fund | Ireland | $456M | 0 |
| Anchorage Credit Funding 3, Ltd. | Securitized Asset Fund | Cayman Islands | $449M | 0 |
| Anchorage Credit Funding 6, Ltd. | Securitized Asset Fund | Cayman Islands | $446M | 0 |
People (7)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Ulrich, Kevin, Michael | Managing Member | Jul 2003 (23y) | ≈ 14.06% – 50% via Anchorage Advisors Management, L.L.C. | |
| Akerman, Andrew, John | Chief Financial Officer | Feb 2022 (5y) | Less than 5% | |
| Baron, Yale, Jacob | Co Chief Investment Officer | Feb 2022 (5y) | ≈ 12.5% – 37.5% via Anchorage Advisors Holdings Management, L.P. | |
| Dunleavy, Robert, O. | Chief Operating Officer | Feb 2022 (5y) | Less than 5% | |
| Gournay, Thibault, Mathieu | Co Chief Investment Officer | Feb 2022 (5y) | ≈ 12.5% – 37.5% via Anchorage Advisors Holdings Management, L.P. | |
| Young, David, T | Chief Compliance Officer | Feb 2022 (5y) | Less than 5% | |
| Fernandez, Daniel, Eugenio | General Counsel | Mar 2022 (4y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Anchorage Advisors Holdings Management, L.P. | Limited Partner | Jan 2022 | A | 50% – 75% |
| Anchorage Capital Group, L.L.C. | Limted Partner | Jan 2022 | A | 25% – 50% |
| Anchorage Advisor Holdings Gp, L.L.C. | General Partner | Jan 2022 | A | Less than 5% |
| Anchorage Advisors Management, L.L.C. | Managing Member | Jul 2003 | B | ≈ 18.75% – 50% via Anchorage Capital Group, L.L.C. |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Ulrich, Kevin, Michael: 75% – 100% of Anchorage Advisors Management, L.L.C. × 75% – 100% of Anchorage Capital Group, L.L.C. × 25% – 50% direct ≈ 14.06% – 50% of the firm
- Baron, Yale, Jacob: 25% – 50% of Anchorage Advisors Holdings Management, L.P. × 50% – 75% direct ≈ 12.5% – 37.5% of the firm
- Gournay, Thibault, Mathieu: 25% – 50% of Anchorage Advisors Holdings Management, L.P. × 50% – 75% direct ≈ 12.5% – 37.5% of the firm
- Anchorage Advisors Management, L.L.C.: 75% – 100% of Anchorage Capital Group, L.L.C. × 25% – 50% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (66, $23.6B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Anchorage Credit Opportunities Master Fund Viii (A), L.P. | Hedge Fund | $1.3B | $10.0M | 86 |
| Anchorage Credit Funding 4, Ltd. | Securitized Asset Fund | $666M | $0 | 0 |
| Anchorage Credit Opportunities Master Fund Ix (A), L.P. | Hedge Fund | $627M | $10.0M | 14 |
| Anchorage Structured Energy Transition Master Fund, L.P. | Hedge Fund | $586M | $0 | 56 |
| Anchorage Credit Funding 13, Ltd. | Securitized Asset Fund | $555M | $0 | 0 |
| Anchorage Capital Clo 7, Ltd. | Securitized Asset Fund | $531M | $0 | 0 |
| Anchorage Capital Clo 9, Ltd. | Securitized Asset Fund | $526M | $0 | 0 |
| Anchorage Capital Europe Clo 2021 4 Dac | Securitized Asset Fund | $479M | $0 | 0 |
| Anchorage Capital Clo 13, Ltd. | Securitized Asset Fund | $479M | $0 | 0 |
| Anchorage Capital Clo 19, Ltd. | Securitized Asset Fund | $479M | $0 | 0 |
| Anchorage Capital Clo 4 R, Ltd | Securitized Asset Fund | $475M | $0 | 0 |
| Anchorage Credit Funding 1, Ltd. | Securitized Asset Fund | $467M | $0 | 0 |
| Anchorage Capital Europe Clo 5 Dac | Securitized Asset Fund | $456M | $0 | 0 |
| Anchorage Credit Funding 3, Ltd. | Securitized Asset Fund | $449M | $0 | 0 |
| Anchorage Credit Funding 6, Ltd. | Securitized Asset Fund | $446M | $0 | 0 |
| Anchorage Credit Funding 5, Ltd. | Securitized Asset Fund | $444M | $0 | 0 |
| Anchorage Credit Funding 10, Ltd. | Securitized Asset Fund | $443M | $0 | 0 |
| Anchorage Capital Clo 1 R, Ltd. | Securitized Asset Fund | $441M | $0 | 0 |
| Anchorage Credit Funding 2, Ltd. | Securitized Asset Fund | $441M | $0 | 0 |
| Anchorage Capital Clo 17, Ltd. | Securitized Asset Fund | $432M | $0 | 0 |
| Anchorage Capital Clo 16, Ltd. | Securitized Asset Fund | $431M | $0 | 0 |
| Anchorage Capital Clo 24, Ltd. | Securitized Asset Fund | $431M | $0 | 0 |
| Anchorage Capital Europe Clo 8 Dac | Securitized Asset Fund | $428M | $0 | 0 |
| Anchorage Capital Europe Clo 6 Dac | Securitized Asset Fund | $424M | $0 | 0 |
| Anchorage Capital Europe Clo 3 Dac | Securitized Asset Fund | $424M | $0 | 0 |
Top 25 of 66 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 05/20/2026 | 19 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- BNY Mellon $559M (2% of AUM) May 2026
- Goldman Sachs $252M (1% of AUM) May 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: May 20, 2026.
View current Form ADV (SEC/IAPD) ↗