Middle East Report


Like this article?

Sign up to our free newsletter

Veteran distressed investment team launches Invictus Global Management

Experienced distressed investment specialists Amit Patel and Cindy Chen Delano, formerly of Whitebox Advisors, have launched Invictus, an alternative asset management firm built to employ a fundamental, event-driven approach to investing across distressed credit and related special situations opportunities.

Patel (pictured), who spent six-years with Whitebox, and Delano, three-years with the firm, will serve as the fCo-Chief Investment Officers of Invictus. They bring proven experience in distressed investing along with differentiated expertise in bankruptcy law and restructuring litigation. Patel’s background also includes working on investment and advisory teams at firms such as Avenue Capital Management, Wellspring Capital Management, and Jefferies Group. Delano’s background extends to working as a restructuring attorney at leading international law firms, including Kirkland & Ellis, Weil, Gotshal & Manges and Milbank, and serving as in-house counsel at AIG Investments.

“We are pleased to build on our experiences and success at Whitebox by launching a specialised investment management platform focused on distressed credit, bankruptcy trade claims and litigation finance,” says Patel. “Through our work together on a diverse set of complex situations, ranging from Puerto Rico’s multi-year restructuring to Westinghouse’s Chapter 11 bankruptcy, we’ve developed a unique approach that we’re excited to scale.”

“Looking ahead, we see a series of compelling opportunities materialising in the marketplace as the maturing economic cycle intersects with unbalanced global growth and tighter central bank policies,” noted Ms. Delano. “We believe Invictus is well-positioned to capitalise on this landscape thanks to our unique ability to combine value investing acumen, bankruptcy law and litigation expertise, and selective activism.”

Mark Strefling, Chief Executive Officer of Whitebox, adds: “We wish Amit and Cindy the best as they take the next step in their careers. In addition to being valued members of our credit team, they embodied the strong principles and values that remain essential to our business.”

In addition to Patel and Delano, the firm’s third founding partner is Aaron Goldberg who will serve as Chief Operating Officer. Goldberg has spent more than three decades in the alternative asset management industry, including in c-level roles at firms such as Halcyon Capital Management and BlueMountain Capital Management.

Like this article? Sign up to our free newsletter

Most Popular

Further Reading


Man Group

Talk to Us

What would you like to talk with us about? *