Greywolf Capital Management was founded in 2003 by Jonathan Savitz and James Gillespie. The firm primarily employs a value investing philosophy using "opportunistic credit-based and fundamental analysis-driven investment strategies". The event-driven Greywolf Capital Overseas Fund had around $1 billion in AUM and returned more than 12% during the first 4 months of 2014. The fund also manages an additional $2+ billion in credit strategies (2014 numbers). Both Jonathan Savitz and James Gillespie worked at Goldman Sachs before starting Greywolf Capital in 2003.