Firm
Founded in 1996
Radcliffe has always sought to identify and leverage market inefficiencies. Our long track record of delivering outperformance for our clients stems from the depth of our team’s experience, rigorous research process, and our discipline to only focus on strategies where we believe we will extract persistent alpha and where we want to invest heavily ourselves.
History
Since its 1996 inception, Radcliffe has been a responsible steward of capital. We are disciplined in selecting and maintaining strategies where we have identified market inefficiencies, have the expertise to capitalize on those inefficiencies, and want to invest heavily ourselves.
2009– Ultra Short Duration (“USD”) Strategy Launched
2014– BDC Bond Strategy is Launched
2022– Radcliffe Multi-Strategy is Launched
Leadership
Mr. Katznelson was the majority founder of the Radcliffe Group in 1996. He is a principal and the Chief Investment Officer of Radcliffe, and has managed large portfolios of fixed income securities since…
Mr. Hinkel is a principal and Director of Research. He supervises the analyst team, and also engages in credit analysis, due diligence and modeling of investment opportunities. Mr. Hinkel left the Master of…
Investment Philosophy
At Radcliffe, our investment philosophy is guided by a commitment to generating alpha-driven returns while aiming to minimize volatility and preserve capital. We seek to leverage our expertise to identify and exploit subsets of the market with persistent structural inefficiencies. We strive to create long-term value by carefully managing assets in alignment with limited capacity.
There is no guarantee the stated results will occur.
We believe that macroeconomic and interest rate forecasting are inherently unreliable, and bubbles are inevitable. So, Radcliffe’s investment process is centered on identifying, from the bottom up, mispriced securities using in-depth fundamental analysis. Through collaboration and a reliance on diverse perspectives, we share ideas, question consensus, and weigh both likely and unlikely scenarios.
We believe portfolios should be composed only of high conviction ideas and optimized through opportunistic rebalancing. As such, Radcliffe takes a comprehensive approach to risk, involving deep due diligence and meticulous portfolio management supported by rigorous compliance and operational controls.
Client Composition
Radcliffe’s client base includes some of the largest pensions, endowments, foundations, hospital systems, corporations, and family offices in the country.
The client type breakdown as of January 1, 2025 is:
- 53%Family Offices
- 12%Corporations
- 11%Pensions
- 9%Insurances
- 8%Endowments/ Foundations
- 4%Hospitals
- 3%Internal