# Pentwater Capital Management

Pentwater Capital Management is an Asset Manager based in Naples, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Naples, United States
- **Region:** Europe
- **Address:** Naples, FL, United States
- **Founded:** 2007
- **Assets under management:** Undisclosed
- **Website:** pwcm.com
- **LinkedIn:** https://www.linkedin.com/company/pentwater-capital-management-lp

## Regulatory record

- **CRD number:** 156873
- **SEC file number:** 801-72861
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/156873

## About

Pentwater Capital Management is an SEC-registered investment adviser in Naples, FL, registered since 2011. The firm manages approximately $19.3 billion in assets. It has 45 employees and 20 investment advisers.

## Offices

- Evanston, IL
- New York, NY
- London, UK

## People

- Matthew Halbower — Founder

## Questions

### Who runs investment decisions at Pentwater Capital Management?

Matthew Halbower founded Pentwater in 2007 and leads the firm. The firm's website identifies him as the founder and leader, and the investment approach is described as a collaborative, bottom-up process across offices. Concentration of decision-making authority rests with Halbower as the named founder and leader of the limited partnership.

### What investment strategies does Pentwater employ?

Pentwater focuses on event-driven investing across the capital structure, spanning merger arbitrage, distressed debt, special situations, and capital-structure arbitrage. The firm uses a bottom-up, opportunistic approach to exploit pricing around corporate catalysts like mergers, restructurings, and spin-offs. Risk management and capital preservation are central to position sizing.

### Where does Pentwater source investment opportunities?

Pentwater sources event-driven opportunities across North America and Europe. The firm maintains offices in Naples, Evanston, New York, and London, allowing it to cover corporate events in major developed markets. Its bottom-up research process relies on internal analysis of corporate catalysts rather than a top-down macro overlay.

### What is Pentwater's known posture on co-investments alongside external managers?

Pentwater's website does not disclose a co-investment program or describe participation in deals alongside external general partners. The firm's event-driven mandate is executed internally across its own strategies. Without a public track record of offering co-investment sleeves, its posture remains focused on commingled fund vehicles.

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Last updated: 2026-06-03T20:00:00.000Z

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