Differentiated Distressed Investing

Our mission is to capture alpha in diverse market environments by leveraging the founder's distinctive expertise in credit protection to find attractive investment opportunities.

The founder's sophisticated, credit-focused analytical, investment, and risk management skills, developed over 20+ years, inform uncommon trade ideas and independent viability assessments. We believe that our distinctive strategy provides multiple benefits, including persistent risk-adjusted returns, diversification, and low correlations to other asset classes.

About Us

Underlying our investment approach is a persistent opportunity set of vetted trade protection assets. TG Capital targets income-producing trade receivable puts, complemented by credit default swaps and public debt and equity securities that we believe are undervalued, to generate returns from multiple sources.

Leadership

Founder and CIO Steven Azarbad, who pioneered the business of accounts receivable put options at Credit Suisse, brings over 20 years of investing experience in credit derivatives, and debt and equity securities to his current role. His multi-disciplinary background, blending legal, investment, and risk management expertise, provides TG Capital with a proprietary and actionable knowledge base.

Strategy

TG Capital's strategy focuses on making investments in distressed debt and equity securities with a primary focus on selling short-dated credit protection via receivable puts and CDS on high-yield and distressed companies. Our strategy is guided by fundamental, bottom-up analysis for thesis creation and instrument selection. TG Capital’s core investment strategy is supplemented through long and short debt and equity securities.

What Makes Us Different

We believe we have carved out a large sweet spot in spaces where others have limited capabilities because of institutional size, mandate, or experience. As a result, TG Capital's diversified alpha generation is additive to other asset classes and strategies.