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Heydorn Stone Capital Management
Heydorn Stone Capital Management was founded in 2001 by John Heydorn and operates from Larchmont, New York, as a registered investment adviser.
Heydorn Stone Capital Management
Heydorn Stone Capital Management was founded in 2001 by John Heydorn and operates from Larchmont, New York, as a registered investment adviser. The firm emerged from the void left by consolidating regional banks, building a book of bespoke short-duration loans for borrowers and projects too small for institutional direct-lending platforms. Its client base spans individuals, high-net-worth families, trustees, and charitable organizations. The firm concentrates on private credit and real estate bridge financing, originating loans secured by commercial and residential properties across the New York metropolitan area and the broader Northeastern United States. Heydorn Stone typically structures first-lien notes with durations under 36 months, filling a gap between conventional bank underwriting and higher-cost private-money lenders. The book includes construction takeout loans, acquisition bridge facilities, and transitional capital for value-add real estate sponsors. The firm does not run pooled funds; each loan is structured as a separate account or bespoke note purchased by the firm's advisory clients. The firm's footprint remains concentrated in the tri-state region, with Larchmont serving as its sole office. Heydorn Stone does not publicly disclose assets under management or total deployment figures. Its registered investment adviser filing with the SEC confirms its advisory activities include financial planning, investment planning, and portfolio management for individuals and charitable organizations. In May 2024, the firm maintained its registration as an SEC-registered investment adviser, reflecting continued compliance and operational activity. Heydorn Stone's structural differentiator is its narrow credit lens: non-bank bridge lending distributed through an RIA wrapper rather than a fund structure. This allows the firm to match individual client capital to specific, collateralized loans without the duration mismatch and redemption risk that characterize pooled credit vehicles. The model resembles a private credit SMA platform at a smaller scale, where each lender maintains direct visibility into the underlying collateral and borrower credit profile.
General information
Firm type
Bank / Wealth / Trust
Year founded
2001
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Larchmont
Corporate office
Larchmont, NY, United States
Sector focus
Frequently asked questions
Who makes investment decisions at Heydorn Stone?
The firm was founded by John Heydorn, who serves as the key principal. As a compact registered investment adviser operating from a single office in Larchmont, underwriting and credit decisions are made by the founder and a lean team. The SEC registration filing lists Heydorn as the control person, with no separate investment committee publicly disclosed.
What kind of loans does Heydorn Stone originate?
The firm structures private credit and real estate bridge loans, typically first-lien notes with durations under three years. Deals include construction takeout loans, acquisition bridge facilities, and transitional capital for value-add real estate sponsors. Loans are concentrated in the New York metropolitan area and the broader Northeast.
Does Heydorn Stone run a fund, or are loans structured as separate accounts?
Heydorn Stone does not operate pooled funds. Each loan is structured as a separate account or a bespoke note purchased by individual advisory clients. This SMA-style approach means each lender holds a direct interest in a specific, collateralized loan rather than a share of a commingled vehicle.
Where does Heydorn Stone deploy capital geographically?
The firm's lending activity is concentrated in the tri-state region — New York, New Jersey, and Connecticut — with a primary footprint in the New York metropolitan area. No secondary offices or expanded regional footprints are publicly disclosed.
Is Heydorn Stone a single-family office, a wealth manager, or a lender?
It is a registered investment adviser that also operates a direct lending business. The firm advises individuals, high-net-worth families, trustees, and charitable organizations on financial planning and portfolio management, while simultaneously originating private credit and real estate bridge loans for those clients to invest in directly.
Does Heydorn Stone disclose its assets under management?
No. The firm has not published AUM figures or total deployment numbers. Its SEC registration confirms the firm is engaged in advisory activities, but it has chosen not to make assets-under-management data publicly available.
What is the firm's posture on co-investments alongside external managers?
Heydorn Stone does not market co-investment opportunities with outside general partners. Its model centers on originating and structuring its own loans for its advisory client base, which makes third-party co-investment activity unlikely within its disclosed operating structure.
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