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Solus Alternative Asset Management Review

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Solus Alternative Asset Management LP

Overseeing more than $6.4 billion in assets, Solus Alternative Asset Management mainly provides advisory and sub-advisory services to pooled investment vehicles. The hedge fund company is based in New York and has a branch office in Summit, New Jersey.

If you’re looking for a personal financial advisor, this firm is likely not the right fit. To find someone who provides financial planning and portfolio management services to individuals, use our financial advisor matching tool, which links you with up to three advisors in your area. 

Read on for more about Solus. 

Solus Alternative Asset Management Background

Solus is a limited partnership organized in Delaware. It formed in 2007, when Christopher Pucillo spun off the hedge funds he managed at Stanfield Capital Partners. His investment team came with him. Today, Pucillo controls Solus and is the principal owner.

What Types of Clients Does Solus Alternative Asset Management Accept?

The firm generally provides investment management services to private funds available only to accredited investors. It may work with certain individual clients through its separately managed account service. 

Solus Alternative Asset Management Minimum Account Size

To invest in its funds, Solus generally requires minimum investments that span from $500,000 to $10 million. In addition, the firm extends access to these funds to only accredited investors, qualified purchasers or knowledgeable employees as defined under U.S. federal securities laws. 

Services Offered by Solus Alternative Asset Management

Solus manages pooled investment vehicles which are based on a master-feeder structure. They include: 

Sola Funds - primarily utilizes a credit and event-driven investment strategy, which aims to exploit a perceived temporary stock mispricing that may take place following a major corporate event such as a merger or acquisition  

Ultra Funds - utilize a credit and event-driven distressed investment strategy 

Solus Senior High Income Fund - employs a long credit-based strategy aiming for returns that meet or exceed the S&P Performing Loan Index  

Solus Long-Term Opportunities Funds - invests in longer-duration and less liquid event-driven investments 

The firm also oversees separately managed accounts (SMA) on behalf of individual clients. SMAs invest in individual securities such as stocks and bonds in order to help a client meet long-term investing goals. 

Solus Alternative Asset Management Investing Philosophy

Solus primarily focuses on credit-based and event-driven investment strategies. It relies heavily on extensive and complex market research in order to find opportunities where it can exploit market inefficiencies for risk-adjusted returns. For example, it uses fundamental analysis to exploit value throughout the capital structure. This research strategy involves diving into market research and the financial statements of specific entities to determine investing decisions. 

Fees Under Solus Alternative Asset Management

Solus generally collects management fees from pooled investment vehicles as a percentage of assets under management. In some cases, these may be charged as monthly fixed asset-based fees that range from an annual 1.5% to 2%. Full fee details would be available in agreements and fund offering and governing documents.

What to Watch Out For

The firm mainly works with institutional clients and accredited investors. If you are neither of these, or you want help with your personal finances, you may want to work with a different firm. To find a more suitable one, use our SmartAsset advisor matching tool. After you answer a few questions about your financial situation and goals, the tool links you to up to three advisors in your area. 

Disclosures

Solus had no disclosures to report in its most recent filings with the Securities Exchange Commission (SEC). For the latest details, you can access its publicly available Form ADV on the SEC website. 

Opening an Account With Solus Alternative Asset Management

To contact the firm, call (212) 284-4300 or email info@soluslp.com.

Where Is Solus Alternative Asset Management Located?

Solus is headquartered at 410 Park Avenue, 11th Floor, New York, New York 10022. As mentioned earlier, it also has an office in Summit, New Jersey.

Tips for Finding the Right Financial Advisor

  • Use SmartAsset’s pro matching tool to find an advisor who provides personalized financial advice. Within minutes of your answering brief questions about your financial goals, the tool links you to up to three advisors near you.
  • When interviewing prospective financial planners, ask if they have any financial certifications. They’re not required to work in the industry, so advisors who earn certifications wanted the specialized training. Many are also held to a higher standard. For example, certified financial planners (CFPs) have a fiduciary responsibility to provide advice solely in the best interests of the client. 

 

All information was accurate as of the writing of this article.

 

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research