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Aristeia Capital
Tony Frascella's Aristeia Capital, seeded by Tiger Management in 1997, runs a multi-strategy credit and event-driven hedge fund based in Greenwich.
Aristeia Capital
Aristeia Capital was founded in 1997 by Tony Frascella, who previously worked at Amaranth Advisors and Tiger Management. Julian Robertson's Tiger provided the initial seed capital, making Aristeia one of the longest-surviving Tiger cubs in the hedge fund ecosystem. The firm is headquartered in Greenwich, Connecticut — a location that places it at the center of the alternative asset management community that Robertson helped build. The investment strategy spans corporate credit, convertible bonds, distressed securities, merger arbitrage, and structured products. Aristeia operates as a multi-strategy event-driven manager, shifting allocations based on the credit cycle. The firm has been an active participant in post-recession distressed cycles and in the convertible bond market, where it has historically been a significant liquidity provider. Geographic exposure includes North America and Europe, with selective Asia-Pacific engagements. The firm was managing approximately $3 billion at its peak around 2015 (per public record), with a team built around Frascella's credit markets expertise. Robert Lynch has served as Chairman since the firm's early years, providing continuity in governance. Aristeia does not operate adjacent philanthropic structures or real asset arms that are publicly documented. Aristeia's structural differentiator is its Tiger lineage combined with a multi-strategy credit orientation rather than the equity long/short approach that defined many Tiger cubs. This unusual configuration — a Robertson-seeded fund devoted entirely to credit and event-driven opportunities — makes it a distinct offering in the hedge fund landscape.
General information
Firm type
Asset Manager
Year founded
1997
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Greenwich
Corporate office
Greenwich, CT, United States
Principals
Anthony M. Frascella
Chief Investment Officer
Robert H. Lynch
Chairman
Sector focus
Frequently asked questions
Who runs investment decisions at Aristeia Capital?
Anthony 'Tony' Frascella serves as Chief Investment Officer and has led the firm's investment strategy since its founding in 1997. He previously worked under Julian Robertson at Tiger Management, where the relationship that led to Aristeia's seed capital was formed. Frascella is the key decision-maker for portfolio allocation across the firm's credit and event-driven strategies.
What is Aristeia Capital's relationship with Tiger Management?
Aristeia Capital is one of the original 'Tiger cub' funds — hedge funds seeded by Julian Robertson's Tiger Management. Robertson provided the initial capital for Aristeia's 1997 launch, placing it in a group that includes firms like Lone Pine, Viking Global, and Coatue. Unlike most Tiger cubs, Aristeia focused on credit and event-driven strategies rather than long/short equity.
What investment strategies does Aristeia Capital pursue?
Aristeia operates as a multi-strategy event-driven manager with an emphasis on credit markets. The firm invests across distressed debt, convertible arbitrage, merger arbitrage, structured credit, and special situations. Its mandate is opportunistic — the portfolio mix shifts with credit cycles rather than adhering to a fixed allocation model.
Does Aristeia participate in fund commitments or only direct deals?
Aristeia Capital primarily executes direct investments in securities and structured products rather than acting as a fund-of-funds allocator. The firm invests directly in corporate credit instruments, convertible bonds, and other event-driven opportunities. It is not known for taking LP stakes in external private equity or venture funds.
What is the known AUM of Aristeia Capital?
Aristeia Capital has not publicly disclosed a current AUM figure. At its peak around 2015, the firm was reported to manage approximately $3 billion. Given the private nature of hedge fund partnerships and the absence of recent regulatory filings with a disclosed AUM, the current scale of the firm is not publicly verifiable.
How is Aristeia Capital governed, and who are the key principals beyond the CIO?
Beyond Tony Frascella as CIO, Robert H. Lynch has served as Chairman since the firm's founding era, providing senior oversight and continuity. The firm likely maintains a standard hedge fund structure with limited partners and a general partner entity. Specific governance details beyond the named principals are not publicly documented.
What is Aristeia Capital's known posture on co-investments alongside external managers?
Aristeia Capital is not known for offering co-investment opportunities to external parties, as it operates as a pooled hedge fund vehicle rather than a co-investment platform. The firm makes proprietary investments across its credit and event-driven strategies, and its investor base participates through the fund structure without side-by-side co-investment rights being publicly advertised.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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