Shenkman Capital, Short Duration High Yield and Bank Loans
Shenkman Capital Management is a $29.4 billion (as of 6.30.16) institutional high yield manager based in New York City. They were founded in 1985, are 100% employee owned, and have 129 employees, 49 of whom are investment professionals. Shenkman’s investor base consists of a mix of large institutional investors and high net worth individuals. In 2012 and 2014 they launched a dedicated Short Duration High Yield strategy and a Floating Rate High Income strategy, respectively. The common thread is the team's strong capital market relationships, access to company management, rigorous proprietary credit analysis and conservative approach.
Mark R. Shenkman
Founder, President, Co-CIO
Mark is considered one of the pioneers of the high yield bond and loan markets. He is a co-author of two textbooks on the high yield market. Prior to founding the firm, Mark was President and Chief Investment Officer of First Investors Asset Management in New York. He also was Co-Manager and Vice President of the High Yield Bond Department at Lehman Brothers Kuhn Loeb in New York, where he established one of Wall Street’s earliest departments dedicated to the research, selling and trading of high yield securities. Mark received a B.A. degree from University of Connecticut and an M.B.A. from The George Washington University.
Nicholas Sarchese, CFA
Senior Vice President, Co-Portfolio Manager for Short Duration Stratey
Nicholas joined Shenkman in 2003. Prior to Shenkman, Nicholas worked as an analyst at Donaldson, Lufkin & Jenrette and Credit Suisse First Boston on their high yield and investment grade research teams. He was also a Senior Associate at Moody’s Investors Service in their Corporate Ratings and Analysis group. Nicholas holds a B.S. degree in Finance and Management from NYU’s Stern School of Business and is a CFA charter holder.
Neil Wechsler, CFA
Senior Vice President, Co-Portfolio Manager and Research for Short Duration Strategy
Mr. Wechsler joined Shenkman Capital in 2002. Mr. Wechsler is Senior Vice President, Credit Analyst and Portfolio Manager and has been a portfolio manager of the Fund since September 2015. Mr. Wechsler received a BS degree in Business Administration from the State University of New York at Albany and a MBA from New York University. He is a CFA charter holder and a member of the CFA Institute and New York Society of Securities Analysts.
David H. Lerner
Senior Vice President and Senior Portfolio Manager, Head of Senior Secured Loans
David Lerner joined Shenkman Capital in 2013. He has 25 years of experience in the banking industry. Prior to joining Shenkman Capital, Mr. Lerner was Managing Director and Portfolio Manager in Credit Suisse’s Credit Investments Group where he was responsible for directing investment decisions and managing portfolio risk. Mr. Lerner joined Credit Suisse in 2000 through the merger with Donaldson, Lufkin, & Jenrette (DLJ). Before working at DLJ, Mr. Lerner worked at First Dominion Capital, LLC as a Senior Vice President. Previous to his employment with First Dominion, he worked at Mitsubishi Trust and Banking Corporation as a Vice President in the Leveraged Finance Group. Prior to that, he served as a Vice President at Banque Francaise du Commerce Exterieur in their Corporate Finance Group. Mr. Lerner began his career as an Associate at The Chase Manhattan Bank in 1990. Mr. Lerner received a Bachelor of Business Administration in Finance from The George Washington University (1990).