|Halcyon Structured Asset Management|
10027, United States
About Steven Mandis
Steven G. Mandis Goldman Sachs Alum
Steven G. Mandis built his reputation over 12 years at Goldman Sachs. Steven Mandis was a portfolio manager in its special situations investing group, which he helped build into a multi-billion dollar investing area within the Goldman Sachs’ Fixed Income Commodities and Currencies (FICC) Division. In addition to being in FICC, Steven Mandis was in the Mergers & Acquisitions (M&A) Department and Principal Investment Area (PIA). During his time at Goldman Sachs, Steven Mandis worked with, and was mentored by, many senior partners, some of whom have been appointed to senior positions in government and some of whom have started successful investment funds.
In 2004 Steven Mandis left Goldman Sachs to become the co-founder, chief executive officer and chief investment officer of Halcyon Structured Asset Management (HSAM), which was affiliated with Halcyon Asset Management (HAM), an event-driven hedge fund. Steven Mandis was named a partner, board member and member of the risk management committee of HAM.
Several Goldman Sachs professionals joined Steven Mandis at Halcyon. Mandis maintained a close relationship with Goldman Sachs and continued to co-invest with different areas of the firm.
When Steven Mandis joined HAM at the end of 2004, HAM (which was founded in 1982) had over $2 billion of assets under management (AUM) and 19 investment professionals. Steven set out to start new asset-based and credit-related strategies and management companies, as well as source and invest capital for HAM. In February 2005, HSAM started to launch funds and strategies. Afterwards, Steven Mandis also co-founded other strategies and funds including Halcyon Asset-Backed Advisors (HAA) and Halcyon Loan Investors (HLI) (collectively with HAM and HSAM, Halcyon). After Steven Mandis joined, Halcyon grew significantly. By March 2008, Halcyon had over $10 billion of AUM in several strategies. Steven Mandis managed approximately $6 billion of AUM. Halcyon had 120 employees (50 investment professionals) and an office in London.
As of March 2008, HSAM had approximately $6 billion in assets under management. HSAM’s investors included leading public and private pension funds, endowments, foundations, financial institutions, insurance companies, and other alternative asset investors.
In March 2008, Halcyon announced it would access the public equity markets through an acquisition by Alternative Asset Management Acquisition Corporation (AAMAC) for over $1 billion in cash, stock and contingent consideration. Steven Mandis was to be a Vice Chairman of Halcyon. At the time, Steven Mandis managed over 50% of Halcyon’s AUM and 25% of the hedge funds’ AUM.
Steven Mandis is married to Alexandra Mandis.
In a New York Times article in 2005, Steven Mandis was mentioned as one of the many Goldman Sachs alums to successfully launch investments funds and have access to the secretive Goldman network. Steven Mandis is the youngest on the list.
Successful Goldman Sachs alums that started a hedge fund and manage over $5 billion each include:
Cliff Asness (AQR)
Pete Brigger (Fortress)
Leon Cooperman (Omega)
Eddie Lampert (ESL)
Steven Mandis (Halcyon Structured Asset Management)
Eric Mindich (Eton Park)
Ed Mule (Silverpoint)
Dan Och (Och-Ziff)
Richard Perry (Perry)
Dinanker Singh (TPG-Axon)
Tom Steyer (Farallon)
David Tepper (Appaloosa)
* As of beginning 2008