Caspian Capital: Platform Profile

Overview

Caspian Capital is a New York credit manager focused on performing, stressed and distressed corporate credit. Its absolute-return strategy dates to 1997, and the platform has expanded into opportunistic long-only credit, market-dislocation strategies, capital solutions and customized client partnerships.

May fit better for

• institutions seeking stressed or distressed credit;
• investors interested in restructuring and capital-structure opportunities;
• allocators seeking corporate credit relative-value exposure;
• investors comfortable with illiquidity and complex credit risk.

May fit less well for

• retail users seeking public fund signup;
• investors seeking primarily public equities;
• users who infer firm scale from a small 13F;
• investors who interpret absolute-return language as guaranteed positive returns.

Current regulatory AUM is $7.026B

• Regulatory AUM: $7.026B
• Regulatory AUM exact: $7,026,185,000
• Regulatory AUM as of: 2026-03-31
• Account count: 14
• Employees: 29

Current private-fund GAV is $5.685B

• Private fund gross assets: $5.685B
• Private fund count: 14
• SMA: Yes

The difference is consistent with a platform that includes both private funds and other advisory relationships.

Q2 2026 13F value is $176.128M

• Q2 2026 13F value: $176.128M
• Q2 2026 13F as of: 2026-06-30
• Q2 2026 13F holding count: 13

• Form 13F market value equals regulatory AUM: No
• Form 13F represents full credit portfolio: No
• Form 13F equals complete portfolio: No

The small filing relative to RAUM is expected for a corporate-credit manager whose core assets can include bonds, loans and other instruments outside ordinary 13F coverage.

Current strategy identity

First-party site:

• Performing credit: Yes
• Stressed credit: Yes
• Distressed credit: Yes
• Opportunistic long only credit: Yes
• Market dislocation: Yes
• Capital solutions: Yes
• Custom client partnerships: Yes
• Fundamental investment process: Yes

A current Blackstone multi-manager filing classifies Caspian as relative value / fixed-income corporate.

Historical public campaign materials also show value-equity capability in selected special situations.

13F parser labels do not change asset type

Use the SEC filing and security fields when an instrument-type distinction matters.

Assessment

Caspian's $176.128M Q2 13F is only about 2.5% of its $7.026B RAUM. That does not imply missing assets or an AUM collapse; it reflects the limited asset classes covered by Form 13F.