York Capital Management is an investment firm founded in 1991 by James “Jamie” Dinan. The firm is headquartered in New York City, with offices in London and Hong Kong. York Capital Management employs a multi-strategy approach to investing, focusing on event-driven and special situation investing. Apart from hedge funds, York Capital Management also runs private equity and debt funds. Mr. Dinan has been a leading figure in the hedge fund industry for over two decades and is widely respected for his investment acumen and risk management skills.
Mr. Dinan graduated from the Wharton School of the University of Pennsylvania in 1981 with an undergraduate degree in economics and began his career in the investment banking division of Donaldson, Lufkin & Jenrette (DLJ). After receiving his MBA from Harvard University in 1985, he joined the merger arbitrage firm Kellner DiLeo & Company, where he rose to the rank of General Partner. Dinan lost his entire savings on Black Monday in 1987, but he came back in 1991 by founding his own investment management firm, York Capital Management, with $3.6 million in seed capital raised mostly from his former DLJ colleagues. In the following years, York Capital Management grew into one of the world’s largest and most successful hedge funds, with assets climbing up to $26 billion in 2015.
However, since then, the fund’s assets under management have come down significantly as it has struggled to generate alpha for investors amidst a broader market rally in the late 2010s led by tech stocks. As a result, the fund started winding down several of its hedge funds at the end of 2020 to focus mostly on private equity and distressed asset funds that lock in investors’ money for an extended period.