Sound Point Capital Management

Sound Point Capital Management, LP is an alternative investment management firm founded in 2008 by Stephen Ketchum and headquartered in New York, with approximately $45.6 billion of total assets under management as of December 31, 2023. The firm has developed deep investing expertise across multiple credit strategies including performing credit, stressed and distressed investing, alternative lending, direct lending, structured products including asset-backed securities and mortgage-backed securities, specialty financing, commercial real estate credit, and marketplace lending. Sound Point manages capital across a range of investment vehicles including collateralized loan obligations (CLOs), commingled funds, drawdown vehicles, and separately managed accounts, providing institutional investors with access to its credit expertise through multiple product structures suited to different investment objectives and liquidity needs.<br><br>The firm's CLO management activities represent a significant component of its business, as Sound Point has established itself as a substantial manager of broadly syndicated leveraged loan CLOs — the structured credit vehicles that have become a primary institutional investor access point for leveraged loan exposure and that generate management fees and equity distributions for their managers. Beyond CLOs, Sound Point's alternative and direct lending capabilities address the growing demand from institutional investors for privately negotiated credit investments that generate yield premium relative to public market credit instruments through complexity, illiquidity, and relationship-based origination advantages. The firm's commercial real estate credit and specialty finance activities further diversify its platform across asset classes that require specialized credit underwriting.<br><br>Sound Point Capital Management, LP manages Sound Point Meridian Capital, Inc. (NYSE: SPMC) through Sound Point Meridian Management Company, LLC, a majority-owned subsidiary. Sound Point Meridian Capital completed its NYSE initial public offering of 4,000,000 shares at $20.00 per share in June 2024, providing public market access to Sound Point's credit investment strategies through a listed closed-end fund structure. Sound Point Capital Management files periodic reports and disclosures with the Securities and Exchange Commission related to its registered investment company activities, and the launch of a publicly listed closed-end fund reflects the firm's expansion from its institutional-only roots toward a broader investor base for its credit management capabilities.