CANYON CAPITAL ADVISORS LLC Profile
Canyon Capital Advisors LLC is an investment management firm based out of Los Angeles, California. The company was originally established in 1990 by cofounders Mitchell Ralph Julis and Joshua Stephan Friedman, both of whom are still with the company today acting as its co-CEOs and co-Chairmen. Canyon Capital Advisors has grown from its inception to now have additional offices in New York and London. The company now operates with 143 employees and manages over $20 billion in total assets under management spread across 27 accounts, all of which are discretionary. Both of the company’s total number of accounts and total assets under management have been increasing in recent years with its total assets under management growing significantly from under $10 billion back in 2010 to over twice that amount today. Canyon Capital Advisors has a value oriented and event drive investment methodology, focusing on locating market inefficiencies in the financial asset values due to the constantly evolving nature of the global capital market. The company invests most heavily in the consumer discretionary sector, which alone makes up over a third of its total asset allocations, and also invests in the health care, finance, energy, information technology, and real estate sectors, among others to a lesser degree, in order of decreasing allocation. Canyon Capital Advisors’s top 10 holdings together make up just over half of its total holdings and the company had a high turnover rate of approximately 49.3% in the last quarter. The company mainly caters to pooled investment vehicles, which alone makes up over three quarters of its entire client base, and also provides services to corporations and other businesses to a lesser degree. Canyon Capital Advisors is employee owned and was ranked 20th in the 2011’s 50 largest U.S. Hedge Fund Managers according to the Hedge Fund Journal.