[Video] Message from Our President, David Breazzano

Posted on March 30, 2021

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DDJ Celebrates 25 Years!

This March marks a significant milestone for DDJ as the firm celebrates its 25th anniversary.  In 1996, using the insights that I honed in my previous roles as a portfolio manager at Fidelity Investments and portfolio manager and analyst at T. Rowe Price, I co-founded DDJ.  Since the inception of the firm, DDJ has consistently applied the investment process that we originally developed, which is premised upon fundamental analysis of each investment opportunity with an emphasis on exploiting the inefficiencies within the lower tier of the high yield credit market.

What began with me and fewer than a dozen other employees working from a small office in a Wellesley strip mall has evolved into a globally-recognized, 54-employee asset manager entrusted with overseeing more than $8 billion in capital on behalf of corporate and public defined benefit plans, Taft-Hartley plans, mutual fund sponsors, foundations, and other institutional investors in both North America and Europe. The firm’s sole focus remains investing in the high yield market.

I am so proud of what we have been able to build at DDJ over the past 25 years. During this time, I have had the privilege to work with and learn from great colleagues, as well as the opportunity to mentor young professionals and watch them flourish.  Our phenomenal clients, several of which have engaged DDJ as investment manager for over a decade, have entrusted us as stewards of their capital, and we believe that we have fulfilled that trust.  Over more than two decades, navigating multiple credit cycles that were impacted by three recessions, we have, on a net-of-fee basis, substantially outperformed the broad high yield index, while generating comparable performance to the S&P 500 with much less volatility.  While past performance is no guarantee of future results, I believe that this performance track record illustrates the soundness of our investment process, and we look forward to serving our clients for the next quarter century and beyond.

At DDJ, we recognize that achieving this milestone would not have been possible without the dedication and commitment from our clients. It has been our privilege to work with you and as we celebrate this 25th anniversary, we thank you for entrusting us with your capital and celebrating our continued partnership. 

Sincerely,

David Breazzano
President
DDJ Capital Management 

 

David Breazzano, DDJ’s President, CIO and Portfolio Manager, offers some perspective on 2020 and the Outlook for 2021..

 

DDJ Capital Management is a privately held investment manager for institutional clients that specializes in investments within the leveraged credit markets. Since our inception in 1996, DDJ has sought to generate attractive risk-adjusted returns for our clients by adhering to a value-oriented, bottom-up, fundamental investment philosophy.  DDJ has extensive experience investing in securities issued by non-investment grade companies within the lower tier of the credit markets, including high yield bonds, bank loans and other special situation investments.

The information and views expressed herein are provided for informational purposes only, and do not constitute investment advice, are not a guarantee of future performance, and are not intended as an offer or solicitation with respect to the purchase or sale of any security. The inclusion of particular investment(s) herein is not intended to represent, and should not be interpreted to imply, a past or current specific recommendation to purchase or sell an investment. Any projections, outlooks or estimates contained herein are forward-looking statements based upon specific assumptions and should not be construed as indicative of any actual events that have occurred or may occur. This material has been prepared using sources of information generally believed to be reliable; however, its accuracy is not guaranteed. Investing involves risk, including loss of principal. Investors should consider the investment objective, risks, charges and expenses carefully before investing with DDJ.
Past performance is no guarantee of future returns.