Beach Point Capital Management
| Company type | Private |
|---|---|
| Industry | Hedge fund management |
| Founded | 2009 |
| Founder | Carl Goldsmith, Scott Klein |
| Headquarters | Santa Monica , United States |
Area served | United States, United Kingdom, Ireland |
| Products | Credit investment strategies |
Beach Point Capital Management (commonly known as Beach Point) is a United States-based hedge fund management company located in Santa Monica, California, with a focus on credit investment strategies. The firm also operates offices in London and Dublin.
Background
Established in 2009 by Carl Goldsmith and Scott Klein, both previously affiliated with Post Advisory Group, Beach Point took over Post Advisory's hedge fund operations along with asset management agreements from Principal Financial Group. A significant number of Post Advisory staff, including its Chief investment officer, transitioned to the newly formed company.
Within its first year, Beach Point was ranked as the 83rd largest hedge fund worldwide, outpacing competitors such as Marshall Wace and Tiger Global Management.
In 2014, Beach Point emerged as a principal creditor to the real estate company Variant Holding, which owed the firm over $73 million during bankruptcy proceedings. The firm contested Variant’s leadership over accusations of fraudulent conduct, resulting in a 2015 agreement that granted Beach Point seats on Variant’s board. Subsequently, in 2016, Beach Point acquired upwards of 20 apartment complexes from Variant as part of the bankruptcy settlement.
The company broadened its presence in Ireland by purchasing a loan portfolio from BMS Finance Ireland, which included credit extended to Maximum Media and Irish Studio. In 2019, Beach Point provided financial support to the proprietors of the Sunday Business Post.
In May 2024, Beach Point acquired a $112 million note associated with Hotel Bossert and initiated negotiations with the Chetrit Group regarding the property's reopening. By September 2024, it had completed the acquisition of Metro Franchising, a prominent franchise operator of Dunkin' Donuts.