Overview
Millstreet Capital Management LLC (“Millstreet”, “Investment Manager”, “we”, or “our”) is a Delaware
limited liability company formed on March 16, 2010. The principal owners of Millstreet are Craig M.
Kelleher and Brian D. Connolly. Jeffrey T. Growney and David T. Danforth are also shareholders of
Millstreet. Craig Kelleher and Brian Connolly together control 100% of the voting rights.
Millstreet provides investment management and administrative services on a discretionary basis to private
pooled investment vehicles and separately managed accounts (“SMAs”) of institutional qualified
purchasers. At this time, we serve as the investment manager to Millstreet Credit Fund LP, which is a
Delaware limited partnership (the “Fund”), and Millstreet Credit Offshore Fund Ltd., which is an offshore
feeder fund incorporated as a Cayman Islands exempted company (the “Offshore Fund”). The Offshore
Fund invests substantially all of its assets in the Fund (as a limited partner in the Fund), and the Fund is the
master fund in the mini-master structure. The Fund and Offshore Fund are referred to collectively herein as
the “Funds” or the “Partnership.” Millstreet also serves as sub-investment manager
to one separately
managed account.
Millstreet employs a long/short, fundamental, and value-driven investment strategy with an emphasis on
catalysts. The investment objectives and strategies applicable to the Funds are set forth in their respective
confidential private placement offering memorandum.
Millstreet can tailor its advisory services to the individual needs of clients in SMAs. Under certain
circumstances, investors in the SMAs may impose restrictions on investing in certain securities, types of
securities, amounts of securities, or types of investments. Any investing restrictions or limitations for an
SMA are established and agreed upon in the investment advisory agreement between Millstreet and the
investor. Our SMA clients generally follow the same strategy as the Fund’s core credit portfolio or invest
in a subset of the Fund’s core credit portfolio, but certain restrictions and other factors may result in
differences in investments compared to the Fund (see discussion in “Brokerage Practices” below).
As of December 31, 2023, Millstreet had approximately US $2.96 billion in regulatory assets under
management. Presently, all of our client assets are discretionary.