Opportunities in
High Yield Credit
Concise Capital is an SEC-registered investment adviser based in Miami, Florida. We invest in short-duration high yield credit, focusing on the inefficient niche of underfollowed issues to enhance risk-adjusted returns while seeking to reduce volatility and drawdowns. Our objective is to provide consistent, uncorrelated income across market environments.
Firm Inception
2004
Team
14 Professionals
AUM
$920M
Location
Miami, Florida
ABOUT THE FIRM
Built to Institutional Standards
Concise Capital Management, LP is a Miami-based investment firm and SEC-registered investment adviser founded in 2004.
For more than two decades, the firm has focused on consistently generating attractive risk-adjusted returns throughout different market cycles by investing in underfollowed short-term high yield credit, targeting opportunities in an inefficient segment of the market through rigorous fundamental research and disciplined portfolio construction.
Concise manages over $920 million in assets and offers its strategy through hedge fund vehicles, a UCITS fund, and separate account mandates for a global institutional client base.
The firm operates within a robust institutional framework aligned with industry best practices in governance, operations, and risk management.
INVESTMENT STRATEGY
How We Invest
Our strategy is driven by a disciplined research process designed to identify inefficiencies in credit markets and generate attractive risk-adjusted returns with lower volatility, limited market correlation, and inherent downside protection.
Inefficient Niche
Short Duration HY Corporate Bonds
- Reduced credit risk
- Less interest rate risk
- Lower Volatility
Under-Followed Issues
- Exploitation of market inefficiencies
- Less sell side research
- Overlooked by competitors
- Higher yields, better risk/reward profiles
Research Process
Bottom-up fundamental credit analysis
- Rigorous proprietary analysis framework
- Investing at the top of the capital structure
- Focus on strong underlying credit fundamentals
Reinvestment vehicle
- High natural liquidity from early calls and maturities
- Volatility management through market cycles
Hedging Strategy
Shorting the Russell 2000
- High correlation to high yield
- Cost efficient and liquid
- Higher relative volatility increases hedge effectiveness
Downside protection
- Protection against drawdowns and market-driven sell-offs
- Reduced volatility
- Lower market correlation
THE TEAM
Experience Across Different Market Environments
Our team brings together decades of experience across credit markets, fundamental research, risk management, and operations; developed through multiple market cycles and a wide range of market environments.
22
Years as a Firm
14
professionals
8
research team
Insights & Updates
Fundspeople Article: Concise Capital – The other side of high yield: lower volatility, greater flexibility.
The Spanish outlet, FundsPeople, recently interviewed our co-founder Glenn Koach on the less crowded side of high yield: why smaller issues and shorter duration can deliver competitive income with lower volatility and more flexibility across market cycles. Read the...
Private Credit vs Liquid HY Credit
Analyzing the opportunity sets of private credit vs. liquid high yield credit. Download the Full Report (PDF) →
Analyzing the Russell 2000 as a Hedge for High Yield
Analyzing the Russell 2000 as a hedge for high yield. Download the Full Report (PDF) →
Learn More About Our Strategies
Concise Capital partners with a select group of institutional investors, family offices, and qualified investors globally. If you are interested in learning more about our investment strategies or discussing a potential partnership, we invite you to contact us.