Firm founder Mark Shenkman remains president and majority shareholder for the time being, though CIO Justin Slatky now handles most day-to-day investment operations following Shenkman stepping down as co-CIO in 2020. The two had served together as co-CIOs in a four-year transitory period, and Slatky has emphasized his intention to keep the firm’s identity intact. In the nearly four decades since its 1985 founding, Shenkman Capital has established itself as a disciplined player in the leveraged finance niche; save for a 2014-19 foray into European high-yield credit via a team lift-out, the firm has rarely deviated from its core lineup of high-yield-, bank-loan-, and convertible-focused strategies. As of June 2022, 91% of its USD 28.3 billion in assets under management sat with institutional clients, while open-end vehicles accounted for the remaining 9%.
Most of the privately owned firm’s shares are held by investment staff employees, one of the factors that has helped keep retention high on the investment team. Long-term risk-adjusted performance informs the team members' compensation, encouraging them to stick with the defensive investment process the firm has long championed.