# Radcliffe Capital Management

Radcliffe Capital Management is an Asset Manager based in Bala Cynwyd, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Bala Cynwyd, United States
- **Region:** North America
- **Address:** Bala Cynwyd, PA, United States
- **Founded:** 1996
- **Assets under management:** ~$3.8B
- **Website:** radcliffefunds.com

## Regulatory record

- **CRD number:** 136028
- **SEC file number:** 801-65461
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/136028

## About

RADCLIFFE CAPITAL MANAGEMENT, L.P. is an SEC-registered investment adviser in BALA CYNWYD, PA, registered since 2006. The firm manages approximately $5.1 billion in assets. It has 22 employees and 11 investment advisers.

## Sectors

- Private Credit
- Hedge Funds
- Special Situations

## People

- Steven B. Katznelson — Founder and Chief Investment Officer

## Questions

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

Steven B. Katznelson founded Radcliffe in 1994 and serves as its Chief Investment Officer, overseeing all portfolio decisions for the firm's publicly registered closed-end funds.

### How does Radcliffe deliver its credit strategy to investors?

Radcliffe primarily operates through two New York Stock Exchange-listed closed-end funds: the Radcliffe Multi-Strategy Credit Fund and the Radcliffe Market Neutral Fund. The closed-end fund structure allows retail and institutional investors to buy shares with standard brokerage accounts, providing daily liquidity while the funds themselves hold less-liquid credit instruments.

### What is the Radcliffe Market Neutral Fund's mandate?

The Market Neutral Fund aims to generate returns that are uncorrelated to broader market moves. It does this by taking long positions in corporate credit, high-yield bonds, and structured credit while shorting equity indices and credit indices to hedge against market downturns and rising defaults.

### Does Radcliffe manage any private funds or separate institutional accounts?

Radcliffe's disclosed investment vehicles are its publicly traded closed-end funds. Based on available public record, the firm does not appear to operate a parallel lineup of private drawdown funds or separately managed institutional accounts, making its public-fund structure its primary route for capital deployment.

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Last updated: 2026-07-08T23:47:59.254Z

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