The Capra Ibex is one of the most sure-footed animals in the world, scaling great heights. It reflects our ability to achieve higher returns, but in a careful, risk-managed way.
Capra Ibex Advisors is a Registered Investment Advisor headquartered in New York City. The firm was founded in 2010 by a team of former Credit Suisse senior fixed income executives who average 36 years of experience in the financial industry. A focus on risk and risk management has been a hallmark of Capra Ibex since its inception.
Capra Ibex has for ten years served as an investment advisor to First Republic Bank on a $5.9 billion taxable fixed income portfolio.
The firm was the sole independent financial advisor to the board of J.P. Morgan, as they deconstructed the events that led to the London Whale incident. We were subsequently hired to review the risk management practices and reporting across the five main business units of the bank. J.P. Morgan implemented our recommendations after an extensive review.
Proprietary Internal Analytics
Real-time early warning detection system that spots and tracks potential credit problems
CLO Analyzer enables rapid responses to opportunities
Capable of identifying data and market anomalies
Risk Management Focus
We manage risk first, placing heavy focus on loan quality, over-collateralization, NAV coverage, loan tail risks, industry concentrations, etc.
We organize initiatives to improve cash flows by enforcing CLO equity rights to demand debt refinancing/restructuring
30 deals restructured in 2017-2018
Secondary Market Focus
Positioned to exploit attractive secondary-market prices and increase cash on cash return. Participate in primary market only when it is attractive relative to secondary
Portfolio Actively Managed and Diversified Across Strong Managers
Unlike CLO managers that only invest in their own CLO equity issuance, Capra is not married to any CLO manager
Capra has the flexibility to approach every manager independently and without conflict