Capital Allocators – Inside the Institutional Investment Industry Tony Yoseloff – Forty Years of Davidson Kempner (Capital Allocators, EP.313)
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May 8, 2023 
Tony Yoseloff, Managing Partner of Davidson Kempner Capital Management, shares insights from his 25-year journey at a firm renowned for opportunistic credit and event-driven investing. He discusses the firm's evolution over four decades, emphasizing teamwork and risk management strategies. Yoseloff weighs in on the role of credit in institutional portfolios and reflects on leadership transitions amid challenges like COVID-19. Plus, personal anecdotes reveal how hobbies like baseball card collecting tie into investment lessons.
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Career Start
- Tony Yoseloff's interest in investing started during the mutual fund boom of the 1990s.
- He transitioned from a legal path to joining Davidson Kempner in 1998 after a unique opportunity arose.
Early DK Culture
- In 1998, Davidson Kempner, while managing outside capital, retained a family office atmosphere.
- This was characterized by a small, close-knit team with personal interactions like birthday celebrations at desks.
Learning on the Job
- Tony Yoseloff's early career benefited from the timing of joining DK during a quiet period for distressed investing (1998-1999).
- This allowed him to gain experience with smaller investments and learn on the job before larger opportunities arose in 2000-2001.