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Eagle Point Defensive Income Management
Eagle Point Defensive Income Management was founded in 2016 by Tom Majewski, a veteran structured-credit investor who previously built the CLO equity...
Eagle Point Defensive Income Management
Eagle Point Defensive Income Management was founded in 2016 by Tom Majewski, a veteran structured-credit investor who previously built the CLO equity platform at Stone Point Capital and traded structured credit at Merrill Lynch. The firm operates from Greenwich, Connecticut, and structured its business around permanent-capital vehicles rather than drawdown funds — a deliberate choice to avoid forced sales during credit dislocations. The core premise is that CLO equity and junior debt tranches, when laddered across managers and vintages, can generate mid-teens returns with lower correlation to traditional equity and fixed-income markets. The strategy spans CLO equity, CLO mezzanine debt, and loan accumulation facilities. Eagle Point runs two NYSE-listed closed-end funds: Eagle Point Credit Company (ECC), which focuses primarily on CLO equity positions, and Eagle Point Income Company (EIC), which targets CLO junior debt and BB-rated tranches. Beyond the public vehicles, the firm manages private funds and separately managed accounts for institutional investors seeking exposure to structured credit. Portfolio holdings are diversified across dozens of CLO managers — including well-known names like Apollo, Carlyle, and Blackstone's GSO — and span US broadly syndicated loan pools primarily, with European exposure held to a minority of the book. Total firm assets are not publicly disclosed as a consolidated figure, but the two NYSE-listed funds alone represent over $1 billion in net assets as of early 2025 (per SEC filings). Eagle Point Credit Company has expanded its mandate over time to include warehouse financing and opportunistic direct lending, broadening the income base beyond pure CLO equity. In September 2024, Eagle Point Income Company completed a rights offering and expanded its leverage facility with Societe Generale, further scaling the CLO debt strategy (per the firm, September 2024). The firm's team is lean; Majewski serves as CEO and portfolio manager for both listed funds, supported by a small investment team in Greenwich. Eagle Point's structural differentiator is its permanent-capital architecture. By operating closed-end funds that trade on the NYSE, Majewski locks in long-duration funding that matches the illiquid CLO assets, avoiding the redemption risk that plagued open-end credit funds during 2020. This structure allows the firm to hold positions through market cycles and reinvest cash flows systematically. The public-vehicle format also imposes daily mark-to-market pricing, a transparency feature uncommon among private CLO equity managers — giving allocators a real-time window into an otherwise opaque asset class.
General information
Firm type
Asset Manager
Year founded
2016
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Greenwich
Corporate office
Greenwich, CT, United States
Principals
Thomas P. Majewski
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Eagle Point Defensive Income Management?
Tom Majewski serves as CEO and lead portfolio manager for the firm's listed funds, including Eagle Point Credit Company (ECC) and Eagle Point Income Company (EIC). Majewski built the CLO equity platform at Stone Point Capital before founding Eagle Point and previously traded structured credit at Merrill Lynch. His investment committee structure is lean, with Majewski retaining final authority on portfolio allocation and risk decisions.
How does Eagle Point source CLO positions, and what is the typical holding period?
Eagle Point acquires CLO equity and debt tranches both in primary issuance and through secondary market purchases, maintaining relationships with dozens of CLO managers across the US and Europe. Because the firm's listed funds are permanent-capital vehicles, Majewski can hold positions through the full life of a CLO — typically 7 to 10 years — rather than facing pressure to sell into dislocated markets. The firm also provides warehouse financing to CLO managers, giving it early visibility into new-vintage deals.
Is Eagle Point structured as a family office, or does it operate purely as an asset manager?
Eagle Point Defensive Income Management is an institutional asset manager, not a family office. The firm manages NYSE-listed closed-end funds, private funds, and separately managed accounts for institutional investors seeking structured-credit exposure. It does not manage a single-family wealth pool.
Does Eagle Point participate in fund commitments or only direct structured-credit holdings?
The firm invests directly in CLO equity, CLO junior debt, and warehouse financing facilities — it does not make fund-of-funds commitments to external credit managers. Eagle Point constructs diversified portfolios of individual CLO tranches across multiple managers and vintages. The two NYSE-listed funds report their top holdings quarterly, showing positions in CLOs managed by Apollo, Carlyle, Blackstone/GSO, and other large alternative managers.
What risks are specific to the CLO equity strategy that Eagle Point runs?
CLO equity is highly sensitive to the default rate and recovery rate of underlying leveraged loans, as well as to the pace of loan refinancing. In a rising-default environment, CLO equity cash flows can be cut off entirely if over-collateralization tests fail, redirecting payments to senior noteholders. Eagle Point mitigates this through broad diversification across managers, vintages, and industries, and by maintaining access to permanent capital that avoids forced selling during credit cycles.
How does Eagle Point's permanent-capital structure differ from private credit CLO funds?
Eagle Point's main vehicles are NYSE-listed closed-end funds, which trade daily but do not face redemption requests. This contrasts with private drawdown funds, which call capital over time, and open-end credit funds, which faced severe outflow pressure in March 2020. The closed-end structure effectively locks in investor capital, allowing Majewski to ride out volatility. The trade-off is that share prices can deviate from net asset value, occasionally trading at discounts or premiums.
Does Eagle Point have exposure to middle-market CLOs, or is it primarily broadly syndicated?
Eagle Point's portfolio is concentrated in broadly syndicated loan CLOs, which reference large, liquid leveraged loans from companies with publicly reported financials. The firm holds some exposure to middle-market CLOs, which reference loans to smaller, sponsor-backed companies, but this is not the primary allocation. The broadly syndicated focus reflects Majewski's emphasis on transparency and diversification within the underlying loan pools.
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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