Tricadia Capital

Tricadia Capital is a multi-strategy credit manager for hedge funds and alternative investment accounts.[1] Tricadia Capital’s predecessor was formed in 2003 by Michael Barnes and Arif Inayatullah.[2] Tricadia Capital is a wholly owned subsidiary of Tricadia Holdings, L.P. (“Tricadia Holdings”), which is controlled by Messrs, Barnes and Inayatullah.[3] Tricadia Holdings also owns Tricadia CDO Management, LLC.[4] Tricadia Holdings is associated with Mariner Investment Group, LLC, which provides certain support services for the firm.[5][6]

Before founding Tricadia Holdings, Mr. Barnes had worked at UBS and Paine Webber, and Bear Stearns. Mr. Inayatullah had worked at UBS, BroadStreet Group, and Credit Agricole Indosuez.[7]

In December 2018, Management of Tricadia Capital is closing its hedge funds. The closures come after assets plummeted from a high of over $3 billion in 2014 in its flagship credit strategy. Tricadia will return around $800 million to investors in its Credit Strategy Fund and the company has already given customers over $150 million to its Convexity fund.[8]

In August 2019, Tricadia buys First Midwest Bancorp Inc, iShares Core S&P 500 ETF. As of the 2nd Quarter of 2019, Tricadia Capital Management, LLC owns 3 stocks with value totalling $43 million.[9]

In 2004, Tricadia CDO Management, LLC was the first North American organization to issue a "synthetic CDO-squared" deal, which it did in conjunction with Citibank.[10]