Empyrean Capital Partners, LP is an event-oriented, multi-strategy investment manager headquartered in Los Angeles, with an office in New York. Empyrean seeks to identify companies going through transformative events and/or securities exhibiting price dislocations and strives to generate attractive absolute investment returns with moderate volatility and low beta to the S&P 500.
Amos Meron co-founded Empyrean Capital Partners, LP in 2004 with two objectives:
- preserve capital in a variety of market environments, and,
- provide our clients attractive risk-adjusted returns in event-oriented opportunities in which inefficiencies or mispricings exist.
Empyrean is a multi-billion dollar investment manager with over 18 years of experience and what it believes are some of the best investment minds in the country. Investors in our strategies include corporate and public pensions, endowments/ foundations, family offices/high-net worth persons, sovereign wealth funds, and other institutional investors.
Empyrean employs a fundamentally-oriented, fully integrated, multi-disciplinary approach to event-oriented investing, and aims to protect and grow investors’ assets by seeking to generate attractive risk-adjusted returns.
Empyrean seeks to invest in situations where identifiable catalysts exist which can unlock value and close the gap between market value and intrinsic value. We strive to find idiosyncratic opportunities, including those less-trafficked or exhibiting asymmetric returns. Potential sources of event opportunities include corporate transactions and complex market, regulatory, or legal events. Our investment process is characterized by rigorous “bottom-up” fundamental research and analysis.
CROSS-ASSET CLASS CAPABILITIES
Empyrean’s investment team has expertise in a variety of special situation strategies across asset classes, including equity, credit, and convertible securities. A flexible investing approach allows us to express an investment thesis through securities offering the best risk-reward in our assessment.
We maintain a low beta mandate, as we believe situation-specific risk is better for clients than directional risk.
MODERATELY CONCENTRATED PORTFOLIO
We focus risk through a moderately concentrated single portfolio with capital concentrated in our highest conviction ideas.
Risk management is an integral part of the investment process. The risk management process is intended to balance a “bottom-up” approach to security selection with portfolio level risk filters, and guidelines, and a variety of credit, equity, and volatility hedging strategies are utilized in an effort to reduce market exposure.
A STEWARD OF CAPITAL
The investors in our strategy include some of the world’s leading institutional investors, including corporate and public pensions, academic endowments, charitable foundations, and sovereign wealth funds. Our investment philosophy strives to preserve the capital that our investors rely on for the future, while growing investor assets to meet their goals.
Managing Partner & Chief Investment Officer
Amos Meron co-founded Empyrean Capital Partners in 2004. Mr. Meron has extensive experience spanning over a 30-year investment management career overseeing a wide variety of investments in the special situations strategy. Prior to founding Empyrean, Mr. Meron was a Partner at Goldman, Sachs & Co., where he was a member of the Arbitrage and Proprietary Equity Strategies Departments. In 1996, Mr. Meron was promoted to co-head of the U.S. group, and in 1997 to sole head. Beginning in late 2000, Mr. Meron founded and headed a new business initiative for the Equities Division focused on proprietary trading opportunities in the Technology and Telecom sectors. From 1989 to 1991, Mr. Meron was a member of Goldman Sachs’ Principal Investment Area (the firm’s private equity arm). Mr. Meron served on Goldman Sachs’ firm-wide Senior Trader Committee, the Technology Operating Committee, and as a member of the Advisory Board for Goldman Sachs Private Equity Partners (a multi-billion dollar fund-of-funds). Mr. Meron earned an A.B. in Economics from Harvard College, graduating summa cum laude.
Brian Joseph joined Empyrean in 2009. From 2003-2009, Mr. Joseph was a Research Analyst with GoldenTree Asset Management, L.P., a value-oriented hedge fund based in New York. From 2001-2003, Mr. Joseph was an Analyst in both the Private Equity Advisory Group and the Media Telecom Group at Dresdner Kleinwort Wasserstein. He earned an AB in Economics from Harvard College, graduating cum laude.
Andrew Reger joined Empyrean in January 2012. From 2007-2011, Mr. Reger was a Research Analyst and Portfolio Manager with GoldenTree Asset Management, L.P., a value-oriented hedge fund based in New York. From 2006-2007, he was an equity analyst at Chaplin Global covering the Technology, Media and Telecom sectors. Prior to Chaplin Global, he was an equity analyst at Bear, Stearns & Co. Inc. from 2004 through 2006. From 2002 through 2004, Mr. Reger was a capital markets analyst at Thomson Financial. Mr. Reger began his career as an auditor at KPMG LLP from 1999 through 2002. Mr. Reger is a CFA. Mr. Reger graduated from Catholic University of America with a BA in Accounting.
Armando Sistos joined Empyrean in 2009. From 2008-2009, he was an Associate at Canyon Capital Advisors LLC, a credit-focused hedge fund based in Los Angeles, in the Healthcare group. From 2005-2008, Mr. Sistos was an Associate at Perry Capital LLC, an event-driven multi-strategy hedge fund based in New York, where he was a member of the US Equities Healthcare team. From 2002-2004, he was an Analyst with Goldman Sachs & Co., first in the Investment Banking Division and then in the Principal Investment Area. Mr. Sistos earned a BA in Economics and Mathematics from Yale University, graduating cum laude.
Partner & Chief Financial Officer
Peter Bergren joined Empyrean in 2013. Mr. Bergren began his career in public accounting in 2004 at PriceWaterhouseCoopers, LLP, where he was employed until 2006. He joined Magnetar Capital LLC in 2006 as a Senior Product Accountant when the firm had approximately $3B in AUM. In 2010, when the firm had grown to $9B in AUM, Mr. Bergren became the Assistant Controller, reporting to the Chief Financial Officer, and managing the firm’s accounting, administration, reporting and year-end audit process for over forty multi-strategy private funds and registered products. Mr. Bergren is a Certified Public Accountant and a CFA charterholder. He received a BS in Finance and Accounting from Indiana University’s Kelley School of Business in 2003.
KATE F. BAUMANN
Partner & Head of Investor Relations
Kate Baumann joined Empyrean in May 2017. Prior to joining Empyrean, from 2010- 2017, Ms. Baumann was a member of the Investor Relations team at Eton Park Capital Management in New York. Ms. Baumann began her career at J.P. Morgan Private Bank in 2007, where she worked as a Banking Analyst until 2009, and as a Global Investment Analyst from 2009 to 2010. Ms. Baumann received a B.S. in Business Administration – Finance from Georgetown University’s McDonough School of Business, graduating with a minor in Spanish.
General Counsel & Chief Compliance Officer
Jennifer (Ginger) Norman joined Empyrean in 2022. Prior to joining Empyrean, she spent over 11 years at Canyon Partners, LLC in Los Angeles where she served as Managing Director and Deputy General Counsel. Ms. Norman has extensive experience over her nearly two-decade career spanning corporate and transactional activity, document negotiations, fund structuring and formation, human resources, and regulatory and compliance matters. She spent the first half of her career at leading law firms, most recently at Sidley Austin LLP. She began her career at Paul, Weiss, Rifkind, Wharton & Garrison LLP and was a member of the Private Funds group at Debevoise & Plimpton LLP. She received her JD from the Columbia University School of Law in 2003, where she was twice named a James Kent Scholar. Ms. Norman received her BA and BFA from Southern Methodist University in 1995.
At Empyrean Capital Partners, talent is critical to our success. We strive to attract the industry’s brightest individuals who are driven to be the best at what they do. Empyrean’s dedication to maintaining a culture of excellence, collegiality, and collaboration drive our selective hiring process across all areas of the firm. The ideal candidate possesses intelligence, an entrepreneurial and dedicated resolve, is team-oriented, and has demonstrated a proven track record in prior endeavors.
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