CYRUS CAPITAL PARTNERS, L.P. other names

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Adviser Profile

As of Date:

03/29/2024

Adviser Type:

- Large advisory firm


Number of Employees:

36

of those in investment advisory functions:

24


Registration:

SEC, Approved, 11/4/2005

AUM:

4,047,585,000 -5.14%

of that, discretionary:

4,047,585,000 -4.56%

GAV:

3,994,487,000 -6.17%

Avg Account Size:

115,645,286 -7.85%


SMA’s:

NO

Private Funds:

17

Contact Info

212 xxxxxxx

Websites :
Client Types:

+

Advisory Activities:

+

Compensation Arrangments:

+

Reported AUM

Discretionary
Non-discretionary
6B 5B 4B 4B 3B 2B 885M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Recent News

US private equity giant poised to take control of Southend Airport - The Telegraph
02/19/2024

Esken is poised to lose ownership of the airport in a debt-for-equity swap involving Carlyle and hedge fund Cyrus Capital Partners, another lender.

telegraph.co.uk

CYRUS CAPITAL PARTNERS, L.P. Reduces Stake in Garrett Motion Inc
08/16/2023

Check out Mario Gabelli Stock Picks » Download GuruFolio Report of Mario Gabelli (Updated on 08/15/2023), Check out Jefferies Group Stock Picks » Download GuruFolio Report of Jefferies Group (Updated on 08/15/2023), Check out Prem Watsa Stock Picks » Download GuruFolio Report of Prem Watsa (Updated on 08/15/2023)Related Stocks: GTX, SAVE, OSG, INSW, DEN,

gurufocus.com

Top 5 4th Quarter Trades of CYRUS CAPITAL PARTNERS, L.P.
02/18/2023

Related Stocks: DEN, INSW, MNK, OSG, ICMB,

gurufocus.com

Flybe: Regional carrier ceases trading and cancels all flights - BBC News
01/29/2023

The company was rescued after being bought by Thyme Opco, a firm linked to US hedge fund Cyrus Capital and subsequently renamed Flybe Limited.

bbc.com

Flights canceled as UK airline Flybe sinks into bankruptcy | Associated Press | wfmz.com
01/28/2023

It was relaunched in April 2022 with hedge fund backing, ... in April 2021 by Thyme Opco, which is linked to U.S. hedge fund Cyrus Capital.

wfmz.com


Private Funds Structure

Fund Type Count GAV
Hedge Fund 16 $3,994,270,000
Private Equity Fund 1 $217,000

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Private Funds



Employees




Top Holdings

Stock Ticker Stock Name $ Position % Position $ Change # Change
366505105 GARRETT MOTION INC $285,817,582 68.00% 16.00% -6.00%
848577AB8 SPIRIT AIRLS INC $46,777,500 11.00%
Y41053102 INTERNATIONAL SEAWAYS INC $27,725,245 7.00% -17.00% -18.00%
419879101 HAWAIIAN HOLDINGS INC $19,563,723 5.00%
69036R863 OVERSEAS SHIPHOLDING GROUP I $22,471,738 5.00% -28.00% -40.00%
848577102 SPIRIT AIRLS INC $11,477,983 3.00% -78.00% -78.00%
46090R104 INVESTCORP CR MGMT BDC INC $4,085,438 1.00% -15.00% -5.00%
34984V209 FORUM ENERGY TECHNOLOGIES IN $881,457 0.00% -8.00% 0.00%

Brochure Summary

Overview

Cyrus Capital Partners, L.P. is a successor firm to Och-Ziff Freidheim, which Stephen C. Freidheim, Daniel Och and the Ziff family founded in 1999. Effective January 1, 2005, Stephen C. Freidheim and some of his partners assumed all of the controlling interests of Och-Ziff Freidheim and changed our firm’s name to Cyrus Capital Partners, L.P. Cyrus Capital Partners, L.P. provides investment advisory services to pooled and single-investor investment vehicles. We typically offer the opportunity to invest in our clients to high net worth, financially sophisticated individuals and institutional investors. The principal owner of Cyrus Capital Partners, L.P. is Stephen C. Freidheim. In addition, Stephen C. Freidheim, James H. Tucker and Daniel J. Bordessa sit on the board of managers of the general partner of Cyrus Capital Partners, L.P., Cyrus Capital Partners GP, LLC. While Mr. Freidheim generally controls and oversees all trading operations at our firm, our Head Trader, Robert Lentini, has authority to initiate preliminary positions in investments for purposes of market testing without the approval of Mr. Freidheim and Mr. Farrell, the main portfolio manager for the Artystone Fund complex through his role at Cyrus Capital Partners Europe L.L.P. has this same authority with respect to the Artystone Fund complex. In addition, Cyrus Capital Partners, L.P. has an advisory board that meets with Mr. Freidheim at certain set times throughout the year. The board consists of two outside members. One of the board members is a respected prominent figure in the investment industry and is also representatives from one of our larger clients and the second board member is a respected prominent figure in geopolitics. The advisory board meets with Mr. Freidheim to discuss overarching topics about running an investment advisory business and provides high-level guidance on matters affecting Cyrus Capital Partners, L.P. as a management company. The advisory board does not advise on specific investments or our firm’s investment decision-making process. Cyrus Capital Partners, L.P. pays each member of the advisory board a fixed quarterly advisory fee. After each meeting, Mr. Freidheim, along with certain members of the Firm and members of the advisory board also normally go to dinner together to continue their discussions of geo- political and economic events. The advisory board members have agreed to keep confidential any
information they learn while serving on the advisory board. In addition, Mr. Freidheim does not share material non-public information in our firm’s possession about our clients’ investments or potential investments with the members of the advisory board. An affiliate of ours, Cyrus Capital Partners Limited (which is ultimately owned by Mr. Freidheim), along with Lucien E. Farrell, owns Cyrus Capital Partners Europe L.L.P., an investment adviser that is based in the United Kingdom and serves as a sub-adviser to our clients (and does not advise any other clients). Lucien E. Farrell is also the chief investment officer of Cyrus Capital Partners Europe L.L.P. Unless we indicate otherwise, all of the information we provide in this brochure also applies to Cyrus Capital Partners Europe L.L.P., which is our relying adviser. Our firm provides discretionary investment advisory services to our clients. Our investment strategies entail primarily investing across the capital structure of highly levered and financially distressed companies. We seek attractive absolute and relative returns that are not correlated to the general equity and fixed income markets, while also focusing on preserving capital. Fundamental value and credit analysis combined with our firm’s experience with event catalysts and processes specific to leveraged and financially distressed companies drive our investment process. Though our firm utilizes a similar strategy for most of our clients, we do occasionally tailor our advisory services to certain of our clients for legal and tax purposes. When accepting investors into our client funds, our firm offers investors in certain clients the option of purchasing interests that only participate in returns from “socially responsible” investments. “Socially responsible” investments are those investments which favor corporate practices that are environmentally responsible, support consumer safety and workplace diversity, and generally contribute to the enhancement of the quality of life around the world. We may also attempt to accommodate investment- related requests in certain single-investor client funds, provided that, in our opinion, these requests do not unfairly advantage one client at the expense of any of our other clients. Our firm does not participate in wrap fee programs. As of January 31, 2023, our firm had discretion over $4,266,904,000 in regulatory assets under management.