Canyon Capital Advisors, LLC is a fee-based firm in Los Angeles managing money for a number of hedge funds. It only manages these funds and does not provide traditional asset management serves to individuals or any other institutional clients. If you are looking for an advisor to manage your personal portfolio, consider finding one with SmartAsset’s free financial advisor matching service.
Canyon has more than $21 billion in assets under management.
Canyon Capital Advisors LLC Background
Canyon was founded in 1994. This company is actually the successor to another firm, Canyon Capital Management, L.P. The firm is owned by Joshua S. Friedman and Mitchell R. Julis, though family limited partnerships and/or trusts.
What Types of Clients Does Canyon Capital Advisors LLC Accept?
Canyon Capital Advisors only advises its own funds. It does not advise any individual clients. If you are interested in finding an advisor who works with individual portfolios, consider finding one with SmartAsset’s free financial advisor matching service.
Investors in the funds include individuals, trusts, pension plans, corporations and other public and private entities.
Canyon Capital Advisors LLC Minimum Account Sizes
Canyon generally manages investment advisory accounts with a minimum size of $50 million and will require that no withdrawal be made that makes the total amount less than $25 million.
Services Offered by Canyon Capital Advisors LLC
The main service offered by Canyon is the ability to invest in its various funds. It does not offer individual investment management services or financial planning services.
The investment strategy offered at Canyon varies based on the fund you choose to invest in. Some of the strategies include:
- Flagship: investing across industries and asset classes, targeting a wide universe of mispriced securities
- Opportunistic and closed-end: hybrid private equity style seeking to extract excess return premium
- Real estate: investing in commercial real estate debt and equity
- River Canyon and CLOs: income-oriented credit strategies
Fees Under Canyon Capital Advisors LLC
Generally investors in Canyon’s funds are charged an asset-based management fee and/or a performance-based fee. The asset-based fees generally fall between 1% and 2% each year. The performance-based fee is normally 20% of the yearly profit, subject to a loss carryforward adjustment and a “high water mark.”
What to Watch Out For
As noted above, this is not a traditional investment management firm. If you are looking for that type of service, find an advisor with SmartAsset’s free financial advisor matching service.
Also note that advisors at the firm are also broker-dealers, a potential conflict of interest. The performance fee may also represent a conflict of interest, as it could be an incentive for advisors to take more risks to get a higher return and, thus, a higher fee.
The firm has no disclosures on its record in the past 10 years.
Where Is Canyon Capital Advisors LLC Located?
Canyon’s headquarters are at 2000 Avenue of the Stars, 11th Fl, Los Angeles, California 90067. There are additional offices in London, New York, Shanghai and Tokyo.
Opening an Account With Canyon Capital Advisors LLC
To invest with Canyon, contact investor relations at (310) 272-1200 or IR@canyonpartners.com.
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