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Hildene Capital Management

7 statements across 1 episodes · 1 bullish · 0 bearish · 1 people on the record · first statement May 25, 2020 by Brett Jefferson · said 32 times in 1 episodes since 2020 · across every show →

Mentions by year

brought up most by Brett Jefferson (21), Ted Seides (4)

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2020 32 mentions in 1 episode

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Everything said about Hildene Capital Management, oldest first

May 25, 2020 positive
Assertion Not checkable as stated
Every active TruPS dealer sourced market information directly from Hildene
“Look, I can say with full confidence that every dealer that's in the space right now, and there's a lot more than just two Got their information from us. A lot of our competitors got their information from us.”
Brett Jefferson May 25, 2020 ▶ 40:27 Brett Jefferson – Inefficiencies in Structured Credit at Hildene Capital Management (First Meeting, EP.19)
May 25, 2020
Disclosure
Hildene defers half of its incentive fee until LP capital is returned
“We align our interest through a fee structure, which is unique. And we take half of our incentive fee when we give the money back.”
Brett Jefferson May 25, 2020 ▶ 57:46 Brett Jefferson – Inefficiencies in Structured Credit at Hildene Capital Management (First Meeting, EP.19)
May 25, 2020
Disclosure
Jefferson returned $1B to investors, deliberately shrinking Hildene's AUM by 40%
“I sold a billion dollars and I gave back. I went from a 2.4 billion dollar firm to a 1.4 billion dollar firm.”
Brett Jefferson May 25, 2020 ▶ 51:27 Brett Jefferson – Inefficiencies in Structured Credit at Hildene Capital Management (First Meeting, EP.19)
May 25, 2020
Disclosure
Hildene evaluates structured credit via asset, structure, and option value
“So I came up with this methodology, which we still use today, and it was basically the value of the assets, the value of the structure, the value of the option.”
Brett Jefferson May 25, 2020 ▶ 22:53 Brett Jefferson – Inefficiencies in Structured Credit at Hildene Capital Management (First Meeting, EP.19)
May 25, 2020 neutral
Disclosure
Hildene occasionally misidentified underlying banks in early TruPS portfolios
“There was a time for a while where we did not have a hundred percent of the actual banks. And I'm going to tell you that there's a lot of first national banks in this country. There's a lot of first Cherokees. There's a lot of bank ones. I mean, there's 8000 b…”
Brett Jefferson May 25, 2020 ▶ 41:58 Brett Jefferson – Inefficiencies in Structured Credit at Hildene Capital Management (First Meeting, EP.19)
May 25, 2020
Disclosure
Jefferson bought a $27M CDO tranche for less than a nice dinner
“I convinced him to sell me all twenty seven million dollars of that tranche. I paid less than what I probably pay for a nice bottle of wine when I go to a nice dinner.”
Brett Jefferson May 25, 2020 ▶ 47:25 Brett Jefferson – Inefficiencies in Structured Credit at Hildene Capital Management (First Meeting, EP.19)
May 25, 2020
Disclosure
Hildene runs on a single firm-wide P&L rather than individual trader books
“I think the other thing that we do, which is really, really different, is we have one P&L for the firm.”
Brett Jefferson May 25, 2020 ▶ 58:32 Brett Jefferson – Inefficiencies in Structured Credit at Hildene Capital Management (First Meeting, EP.19)
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