Radcliffe Capital Management, L.P. (Radcliffe), an SEC-registered investment adviser specializing in defensive credit and opportunistic strategies, today announced that industry veteran Peter Duffy, CFA, has joined the firm as director of investments, effective Jan. 27. In addition, Radcliffe has appointed Ryan Adams, CFA, Michael Gordon, and Peter Rudnick, CPA, as managing directors.
Radcliffe manages more than $4.2 billion for large institutional investors and high-net-worth families globally.
Duffy reports to the firm’s principals, Steve Katznelson and Chris Hinkel. He joins Radcliffe from Penn Capital, where he was responsible for guiding the firm’s $1 billion in credit strategies as chief investment officer and senior partner. He managed the credit team and served as lead portfolio manager for all of its credit strategies, including short duration high yield, opportunistic credit, and leveraged loans.
“We welcome Pete Duffy to Radcliffe to help lead and support our strategic vision to invest defensively and opportunistically. He will be working closely with me as well as our portfolio managers and analysts,” Katznelson said. “Ryan, Michael and Peter are each long-tenured, experienced members of our team, and we are pleased to promote these talented investment professionals in recognition of their contributions to Radcliffe and our clients.”
Adams, Gordon and Rudnick are part of a team that focuses on idea generation, due diligence, and credit analysis.
“The new talent and the promotion of key team members reflects the firm’s growth in 2022 with record inflows. This year we plan to add multi-strategy capabilities to invest tactically across our strategies as well as in opportunities where we have vast expertise,” Katznelson added.
Duffy said, “I’m excited to join Radcliffe, a firm with a culture and track record that I admire. I look forward to supporting Radcliffe’s mission to achieve positive outcomes for clients.”
Before Penn Capital, Duffy worked for six years at Deutsche Asset Management, where he was a director and sector specialist for high yield. He worked previously for GE Capital as a finance manager for business development and M&A and began his career at Arthur Andersen LLP as a senior management consultant. He has a bachelor’s degree, summa cum laude, in business administration with a concentration in finance from Villanova University and an MBA from the Wharton School of the University of Pennsylvania. He is a CFA Charterholder and a member of the CFA Society of Philadelphia.
Adams joined the firm in 2012. Before Radcliffe, he was an analyst at LBC Credit Partners, a middle-market direct lending firm, where he was responsible for the research and underwriting of investments. Before LBC, he worked at John Hancock Financial Services as a senior analyst in its bond and corporate finance group. Adams received a bachelor’s degree with a concentration in mathematics and administrative science from Colby College. He is a CFA Charterholder and a member of the CFA Society of Philadelphia.
Gordon joined the firm in 2016. Before Radcliffe, he was an assistant vice president of debt capital markets at First Niagara Bank, N.A. Before that he was an associate at LBC Credit Partners, where he was responsible for the research and underwriting of investments, and an analyst at Citigroup Inc. He received a bachelor’s degree in finance, cum laude, from Villanova University.
Rudnick joined the firm in 2010. Before Radcliffe, he was a managing director of convertibles and credit trading at The Seaport Group. He worked previously for Banc of America Securities LLC, as vice president on the convertible bond desk and head of fundamental credit research; for BNP Paribas, as senior credit analyst; and for Arthur Andersen LLP, as senior auditor. Rudnick received a bachelor’s degree in business and economics from Lafayette College and an MBA from the Fuqua School of Business at Duke University. He is a Certified Public Accountant.
Radcliffe Capital Management, L.P., the operating entity of Radcliffe Group, Inc., is an employee-controlled SEC-registered investment adviser that manages more than $4.2 billion across seven unique defensive credit-related strategies. Its clients include a cross section of institutions and high-net-worth families.
For 26 years, Radcliffe has successfully invested in niche strategies by capitalizing on persistent structural market inefficiencies, where the principals of the firm want to commit their own capital. For more information, visit www.radcliffefunds.com.
