Canyon Partners

Office address: 2000 Avenue of the Stars, 11th floor, Los Angeles, CA 90067
Website: www.canyonpartners.com
Year established: 1990
Company type: employee-owned hedge fund
Employees: 200+
Expertise: distressed debt, real estate, corporate credit, structured credit, CLOs, event-driven investing, capital solutions, multi-strategy credit, asset-backed securities, ESG strategies, private equity, liquid credit, direct lending, special situations
Parent company: N/A
Key people: Josh Friedman (co-CEO), Mitch Julis (co-CEO), Doug Anderson (CCO), Robert Heron (partner), Jonathan Kaplan (COO), Todd Lemkin (partner), Sheridan Mansfeld (CFO), Andy Ray (CSO)
Financing status: N/A

Canyon Partners is a Los Angeles-based employee-owned hedge fund with more than $26 billion in assets under management. The firm invests in complex opportunities across corporate securities, structured credit, and real estate, using a value-driven, credit-intensive approach. With over 200 employees in seven offices globally, the company serves a diverse range of institutional clients.

History of Canyon Partners

Canyon Partners was founded in 1990 by Mitchell R. Julis and Joshua S. Friedman with a focus on entrepreneurship, collaboration, and strong ethical values. From the start, philanthropy and social responsibility were central to the firm’s culture. In 2004, the company introduced a matching donation program to amplify employee contributions during crises.

By 2011, Canyon Partners was recognized as one of the largest hedge funds in the US, and by 2015, it had gained global prominence. The firm launched "Canyon Gives Back" in 2017, formalizing its commitment to volunteerism and community outreach. In 2023, they partnered with The NRP Group, a multinational housing developer, to build a 372-unit multifamily project in Austin, Texas, backed by $61 million.

Products and Services of Canyon Partners

Canyon Partners provides diverse investment strategies designed to capture complex financial opportunities. Key offerings across asset classes include:

• capital solutions: provides customized financing for companies facing unique financial challenges or complex situations
• multi-strategy credit: focuses on corporate credit, distressed debt, and special situation investments
• distressed opportunities: invests in financially troubled companies with the potential for turnaround
• real estate: includes equity and debt investments in commercial and residential real estate sectors
• structured credit and CLOs: asset-backed securities, collateralized loan obligations investments, and more
• ESG strategies: integrates environmental, social, and governance factors into investment decisions
• liquid credit strategies: focuses on liquid, high-yield corporate bonds and loans

For over 30 years, Canyon Partners has applied a value-oriented, bottom-up approach, investing in corporate situations, structured credit, and real estate across global markets. Their deep value, credit-intensive strategy spans a broad spectrum of investment opportunities.

Culture at Canyon Partners

Canyon Partners' culture upholds collaboration and excellence, offering challenging work with opportunities for professional growth. The firm prioritizes the well-being of employees and their families through a comprehensive benefits package that promotes mental and physical health. To support staff success, it provides a range of benefits, including:

• family support: paid parental leave, adoption assistance, and programs for nursing mothers
• wellness and mental health: virtual therapy, financial planning, and employee assistance programs at no cost
• community involvement: quarterly volunteer opportunities and donation matching for crisis response campaigns
• work-life balance: flexible remote work options, including the "Work from Anywhere" program

The company’s environmental, social, and governance (ESG) approach in its investment strategies is stated to be value-oriented and event-driven. Canyon Partners emphasizes long-term sustainability, recognizing that strong earnings are tied to risk management and responsible business practices, with initiatives focused on:

• Canyon Catalyst Funds: made joint ventures with CalPERS and other investors
• Canyon Multifamily Impact: investing in workforce multifamily housing in low-income areas
• ESG policy and reporting: formalized ESG policy and Canyon Opportunity Zone strategy for affordable housing
• DEI and ESG leadership: leads firm-wide DEI and sustainability initiatives, and the firm is a signatory to the UNPRI and ILPA’s Diversity in Action

Canyon Partners has prioritized charitable giving and community outreach since its founding, integrating these values into its corporate culture. The firm actively supports social good through both internal initiatives and external partnerships. These efforts reflect Canyon’s commitment to making a positive impact on society through key programs:

• Canyon Gives Back: promotes volunteerism and charitable giving
• quarterly volunteer activities: team members participate in nonprofit projects, including beach cleanups and supporting unsheltered mothers
• paid volunteer days: employees receive two paid days annually to volunteer with charities of their choice
• matching donations: allows employees to double their donations during crises
• corporate donations: millions donated to causes like arts, education, underserved communities, and healthcare

Canyon Partners promotes a DEI-integrated culture that values diverse perspectives as essential for innovation and success. A DEI committee of employees across roles and locations guides diversity initiatives. Through education and collaboration, the firm enhances its competitive edge and long-term goals.

About Canyon Partners Co-CEOs Josh Friedman and Mitch Julis and Key People

Josh Friedman is the co-CEO, co-founder, and co-chair of the company and serves on the George W. Bush Presidential Center Executive Advisory Council. Before this, he was a director at Drexel Burnham Lambert and worked at Goldman Sachs. He holds a BA from Harvard College, an MA from Oxford, an MBA from Harvard Business School, and a JD from Harvard Law School.

Mitch Julis, who serves as co-CEO, co-founder, and co-chair of Canyon Partners, is also a Trustee of Brown University Corporation. Previously, he was a director at Drexel and an attorney at Wachtell, Lipton, Rosen & Katz. Julis holds a BA from Princeton, a JD and MBA from Harvard, and an honorary doctorate from Yeshiva University.

Canyon Partners is led by a strong team of partners and executives who oversee various key aspects of the firm's operations and direction:

• Doug Anderson serves as partner and chief compliance officer, ensuring compliance with regulatory standards and overseeing internal policies in the LA office
• Robert Heron, partner and chief information officer, manages the firm’s IT strategy, risk analytics, data management, and technology infrastructure
• Jonathan Kaplan, partner and COO, supervises all non-investment business activities, including operations, administration, and business management for Canyon Partners
• Todd Lemkin serves as partner and chief investment officer, leading the portfolio team’s efforts in developing and implementing investment strategies globally
• Luis Silva, partner and CFO, oversees accounting, financial reporting, and operational aspects of the firm
• Andy Ray is a partner and chief strategy officer, guiding their long-term business strategies and growth initiatives

The Future at Canyon Partners

Canyon Partners is focusing on global expansion, highlighted by its recent hire in the EMEA region to drive international growth. This strategic move allows the firm to tap into new markets, broadening its investment portfolio across real estate and alternative assets. By strengthening its presence in Europe, the Middle East, and Africa, it aims to access diverse opportunities and capital sources.

The organization is exploring opportunities in the cryptocurrency market as more hedge funds invest in digital assets like Bitcoin and Ethereum. Expanding into crypto helps the firm appeal to younger, tech-focused investors while enhancing its presence in alternative investments. This aligns with Canyon Partners’ goal of staying ahead in high-growth, innovative markets.