Brigade Capital Management: Platform Profile

Overview

Brigade Capital Management is a global credit-focused alternative asset manager founded in 2006. The firm invests across liquid credit, alternative credit, structured credit, private credit and CLO/CBO strategies.

Its first-party website reports $31.6B of firmwide AUM as of August 1, 2026.

May fit better for

• investors seeking broad credit exposure across liquidity levels;
• institutions interested in long/short and opportunistic credit;
• investors seeking structured-credit and CLO expertise;
• allocators interested in private direct lending;
• investors comfortable moving across the credit cycle.

May fit less well for

• users seeking primarily public-equity hedge-fund exposure;
• investors uncomfortable with leveraged or structured credit;
• retail users seeking a single private-fund signup path;
• users who treat 13F as representative of Brigade's credit platform;
• investors who interpret capital-preservation focus as guaranteed principal protection.

Brigade was founded in 2006

Current first-party materials:

• Founded: 2006
• Founder: Donald E. Morgan III
• Founder current role: Managing Partner / Chief Investment Officer / Portfolio Manager
• Headquarters: New York
• London office: Yes

Public firmwide AUM is $31.6B

Current strategies page:

• Public AUM: $31.6B
• Public AUM as of: 2026-08-01

Regulatory AUM is $33.022B

Current July 22, 2026 Form-ADV disclosures show:

• Regulatory AUM: $33.022B
• Regulatory AUM as of: 2026-07-22
• Discretionary AUM: $33.022B
• Client accounts: 115
• Employees: 108

The $31.6B first-party figure and $33.022B regulatory figure are separately sourced measures.

Brigade's strategy set spans the credit spectrum

Current first-party strategies:

• Liquid Credit: Yes
• Alternative Credit: Yes
• Structured Credit: Yes
• Private Credit: Yes
• CLO CBO Platform: Yes
• High Yield: Yes
• Leveraged Loans: Yes
• Long Short Credit: Yes
• Opportunistic Credit: Yes
• Dislocation: Yes
• Senior Structured Credit: Yes
• Credit Relative Value: Yes

The firm also uses commingled funds and separately managed accounts.

The first dedicated private-credit fund closed with more than $1B

Current February 12, 2026 first-party release:

• Private Credit Solutions Fund closed: Yes
• Private Credit Solutions Fund close date: 2026-02-12
• Private Credit Solutions Fund investable capital: $1B+

The fund targets first-lien direct loans to lower-to-middle-market and non-sponsor borrowers.

This is a fund-specific capital figure, not firm AUM.

Current CLO/CBO platform manages 31 transactions

Current strategies page:

• CLO CBO transactions: 31
• CLO CBO transactions as of: 2026-08-01
• US and European platform: Yes

Q2 2026 13F is only about $534.3M on the consolidated filing view

FilingExplorer's current consolidated 13F view reports:

• Q2 2026 13F value: $534.3M
• Q2 2026 13F as of: 2026-06-30
• Q2 2026 13F holding count: 9

Brigade's main exposures include bonds, loans, private credit and structured instruments that are largely outside ordinary 13F long-equity reporting.

Private-fund gross assets are not regulatory AUM

FilingExplorer reports from the July 2026 Form ADV:

• Private fund count: 138
• Private fund aggregate gross assets: $28.5B
• Hedge fund gross assets: $14.6B
• Securitized asset fund gross assets: $13.6B
• Private equity fund gross assets: $301.9M

Many listed vehicles are CLO/CBO or master-feeder structures, so gross asset totals require careful interpretation.

Vehicle minimums vary substantially

Current ADV-derived fund tables include examples from zero/internal references through $100K, $250K and $5M.

A zero minimum in a regulatory private-fund schedule must never be marketed as “$0 to invest with Brigade.”

Capital preservation is an objective, not a guarantee

The firm repeatedly emphasizes capital preservation and risk-adjusted return.

Assessment

Brigade shows the opposite 13F problem from Soroban.

A reader looking only at the Q2 13F could conclude the firm is small because the consolidated reported value is about $534.3M. The current public website says $31.6B AUM and the July Form ADV reports $33.022B regulatory AUM.

The gap is structural: Brigade is fundamentally a broad credit manager, and much of its portfolio is not represented in Form 13F.