Eagle Point Capital

Eagle Point Capital

Thomas Majewski founded Eagle Point Capital in 2014 after a decade structuring collateralized loan obligations at Merrill Lynch and later managing a CLO platform at GSO/Blackstone. The firm is headquartered in Greenwich, Connecticut and, unusually for a specialist credit manager, trades publicly on the New York Stock Exchange as Eagle Point Credit Company (ECC). A second permanent-capital vehicle, Eagle Point Income Company (EIC), followed in 2019 with a focus on CLO debt tranches. Eagle Point invests across the capital structure of CLOs, with a structural bias toward the equity and junior debt tranches where yields are highest and the manager's underwriting skill has an amplified impact. On the equity side, the firm takes controlling stakes that give it the right to direct the CLO manager's reinvestment decisions — a governance lever most equity holders never touch. On the debt side, it targets mezzanine notes of newly issued CLOs, capturing the wide spreads between BB-rated corporate credit and the structured-vehicle yield. The portfolio spans broadly syndicated loans across industrials, software, healthcare services, and business services, with the underlying reference pool typically comprising 200–300 leveraged loan issuers spread across North America and Europe. Eagle Point discloses its investment portfolio quarterly in SEC filings, a transparency practice rare among private credit managers. As of early 2025, the firm's two public vehicles collectively held over $4 billion in total assets, with ECC alone representing approximately $2.2 billion. The management company remains private, but the public listing of its funds creates a unique operating cadence: quarterly earnings calls, public NAV reporting, and a shareholder-base that includes yield-oriented retail investors alongside institutional allocators. In August 2024, Eagle Point Income Company raised $54 million in a follow-on common stock offering, deploying the proceeds into new-issue CLO BB-rated notes. Eagle Point's permanent-capital structure is its structural differentiator. Most CLO equity is locked up in closed-end funds with five-to-eight-year lives, forcing managers to recycle distributions or return capital. By selling shares that trade daily on the NYSE, Majewski created a vehicle that holds CLO equity indefinitely while offering daily liquidity to shareholders — solving the duration mismatch that constrains traditional CLO equity investors.