Masters in Business King Street's Brian Higgins On Navigating Distressed Markets
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Oct 18, 2024 Brian Higgins, co-founder and managing partner of King Street Capital Management, shares his journey from electrical engineering to mastering distressed assets. He discusses essential skills for aspiring investors and the evolution of distressed credit markets, highlighting the role of ESG principles. Higgins differentiates stressed and distressed assets, exploring implications in high-yield markets, and outlines King Street's unique investment strategies. He also touches on personal development through mentorship and the influence of teamwork in adapting to challenges.
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Career Switch
- Brian Higgins initially studied electrical engineering before switching to finance.
- He was inspired by the mid-80s market activity, including the merger boom and Wall Street's excitement.
1987 Market Crash
- Higgins started at First Boston in 1987, experiencing the market crash firsthand.
- This experience highlighted market volatility and the potential for opportunities in distressed securities.
King Street Founding
- King Street Capital was co-founded by Brian Higgins and Francis Biondi in 1995 with $4 million.
- Early investor and mentor Jimmy Cayne (CEO of Bear Stearns) provided crucial support and guidance.