This week, we communicate with Thomas Wagner, CIO, co-chairman and co-founder of Knighthead Capital. The deep worth and particular state of affairs fund manages $10 billion in property. He’s a co-investor with Tom Brady in a number of sports activities property, together with a pickleball staff, the English Soccer League’s Birmingham Metropolis membership, and an endurance auto racing staff. Earlier than founding Knighthead Capital, Wagner was a managing director accountable for working the distressed and high-yield credit score buying and selling desks at Goldman Sachs & Co. Wagner started his profession doing hedge fund accounting at Ernst & Younger.

Among the particular conditions the fund is concerned with embrace shopping for Hertz out of chapter and taking a considerable stake in PG&E post-bankruptcy following California’s Camp Fireplace wildfire.

Wagner has additionally co-invested in a number of sports activities property with Tom Brady, together with a Pickleball staff, Birmingham Metropolis FC within the English Soccer League, and an endurance racing motorsport staff. There are alternatives past the Massive 4 skilled sports activities leagues which have the potential to be the subsequent nice leisure funding. He additionally explains why reaching nice success requires fund entrepreneurs to “put all of it on the road.” Founders must embrace danger in the event that they wish to obtain greatness, which is one thing we are likely to neglect about society’s largest risk-takers.

He additionally remembers his experiences on 9/11, watching papers with their edges singed blow by the home windows of his desk on the Goldman Sachs buying and selling flooring.

An inventory of his favourite books is right here; A transcript of our dialog is accessible right here Tuesday.

You possibly can stream and obtain our full dialog, together with any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts in your favourite pod hosts will be discovered right here.

Be sure you take a look at our Masters in Enterprise subsequent week with Jawad Mian, CFA and Chartered Market Technician, who runs the impartial world macro analysis and buying and selling advisory agency Stray Reflections. The agency’s focus is on main funding themes, and its purchasers embrace most of the world’s largest hedge funds and different asset managers.

Tom Wagner Present Studying

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