Quadratic Capital Management

Quadratic Capital Management

Quadratic Capital Management was founded in 2014 by James Friedman, who previously served as a portfolio manager at a large Connecticut-based hedge fund. The firm's wealth origin is not publicly disclosed, and it is structured as an asset manager rather than a single family office. The firm's strategy centers on alternative credit and rate-hedging products, with documented activity in private credit, infrastructure debt, and structured finance. Quadratic targets uncorrelated returns through what it describes as a systematic, risk-aware approach. Its known geographic focus is North America, with an emphasis on U.S. infrastructure and credit markets. The firm has been associated with holdings in energy infrastructure and transportation-related debt. Quadratic operates from its Greenwich headquarters with a lean team. The firm's professionals include David Keller as Managing Director & Portfolio Manager. No additional offices have been identified. The firm does not maintain a public philanthropic vehicle or adjacent operating company. Recent activity is not publicly documented beyond the firm's ongoing alternative credit strategies. What distinguishes Quadratic is its niche positioning in the alternative credit space — focusing on infrastructure debt and structured products that most traditional fixed-income managers avoid. That structural choice gives it a differentiated return profile, but the firm's small size and limited transparency make it hard for allocators to benchmark against peers.