Diameter Capital Partners: Platform Profile

Overview

Diameter Capital Partners is a global credit manager founded in 2017 by Scott Goodwin and Jonathan Lewinsohn. Its platform combines fundamental credit research, trading and risk analytics across public and private credit markets.

Diameter invests across the credit spectrum rather than operating as a public-equity hedge fund. Its current strategies include hedged and dislocation strategies, direct lending, CLO/CDO management, opportunistic long-only credit and capital solutions.

May fit better for

• institutions seeking broad credit-cycle exposure;
• investors interested in stressed, distressed and special-situations credit;
• allocators evaluating public and private credit together;
• investors comfortable with derivatives, hedging and capital-structure complexity;
• qualified investors evaluating private pooled funds and structured-credit vehicles.

May fit less well for

• retail users seeking public self-service hedge-fund access;
• investors seeking primarily long-only public equities;
• users who treat a small 13F as evidence of a small credit platform;
• investors who interpret an absolute-return objective as guaranteed positive returns.

Diameter is SEC registered

• Legal adviser: Diameter Capital Partners LP
• CRD: 289307
• SEC number: 801-111022
• SEC registration effective: 2017-08-17
• SEC registered investment adviser: Yes

Current regulatory AUM is $28.756B

Current August 27, 2026 Form-ADV-derived data:

• Regulatory AUM: $28.756B
• Regulatory AUM as of: 2026-08-27
• Discretionary AUM: $28.756B
• Client accounts: 44

An earlier April 29, 2026 ADV reference rounded the same platform to approximately $28.8B.

Use the later August filing as the current regulatory reference.

First-party public AUM reached $25B in November 2025

Diameter's November 13, 2025 fund-close announcement stated:

• Historical public AUM: $25B
• Historical public AUM as of: 2025-11-13

Q2 2026 Form 13F was restated

The current Q2 filing history identifies a restatement:

• Q2 2026 13F restated value: $1.240B
• Q2 2026 13F as of: 2026-06-30
• Q2 2026 13F restated entry count: 34
• Q2 2026 13F filing type: RESTATEMENT
• Q2 2026 13F accession: 0001172661-26-003822

Some aggregators still display a different Q2 total from the earlier filing version.

The restated $1.240B figure is the required package value.

The 13F is especially incomplete for a credit manager

The restated filing includes reportable equities, convertible/debt securities and options, including a large SPY put position.

Diameter's broader platform includes:

• Investment grade credit: Yes
• High yield credit: Yes
• Stressed credit: Yes
• Distressed credit: Yes
• Structured credit: Yes
• Direct lending: Yes
• CLO CDO: Yes
• Capital solutions: Yes
• Public credit: Yes
• Private credit: Yes

Loans, many bonds, private credit positions, CLO assets, shorts and other derivatives are not fully represented on Form 13F.

Current first-party strategy lineup

• Hedged and Dislocation Strategies: Yes
• Direct Lending: Yes
• CLO CDO: Yes
• Diameter Dynamic Credit: Yes
• Capital Solutions: Yes

Diameter describes its process as combining research and trading across the credit spectrum from investment grade to distressed.

Private-fund gross assets are separate from RAUM

Current August 2026 Form-ADV-derived research reports:

• Private fund count: 33
• Private fund gross assets: $29.5B
• Hedge fund gross assets: $21.0B
• Securitized asset fund gross assets: $7.8B
• Private equity fund gross assets: $659.1M

Dislocation Fund III is fund-specific

First-party November 2025 announcement:

• Diameter Dislocation Fund III commitments: $4.5B
• Initial hard cap: $4.25B

The $4.5B represents commitments to a specific strategy/fund complex.

• DDF III commitments equal firm AUM: No

Assessment

Diameter's manager scale is best anchored to $28.756B of current regulatory AUM, not the $1.240B Q2 13F.

The more subtle QA issue is the Q2 restatement: the superseded filing must not overwrite the later restated value.