| Bracebridge Capital | |
| Type: | Private |
| Foundation: | 1994 |
| Founder: | Nancy Zimmerman Gabriel Sunshine |
| Location City: | Boston, Massachusetts |
| Location Country: | United States |
| Location: | 15th floor, 888 Boylston Street |
| Key People: | John Spinney (chief operating officer) Kirstan Barnett (general counsel & chief compliance officer) Geraldine Acuña-Sunshine (senior counsel) Wendy Sheu (Chief Compliance Officer) |
| Assets: | $26.6 billion (May 2019) |
| Num Employees: | 100+ |
| Homepage: | bracebridgecapital.com |
Bracebridge Capital is a hedge fund based in Boston, Massachusetts. It was co-founded by Nancy Zimmerman and Gabriel Sunshine.[1] It manages funds from the endowments of Yale University and Princeton University. It also made $1.5 billion from the Argentine debt restructuring. As of February 2016, it had $10.3 billion of assets under management, making it the largest hedge fund managed by a woman in the world. Sunshine owns a 5% stake in Bracebridge as of 2017.[2]
Bracebridge Capital was co-founded by Nancy Zimmerman and Gabriel Brendan Sunshine in 1994.[3] Zimmerman is a Brown alumna, former Goldman Sachs employee, and the wife of Harvard professor Andrei Shleifer.[4] [5]
Sunshine is a Harvard graduate, class of 1991, and the husband of Geraldine Acuña-Sunshine,[6] the co-chair of the Harvard College Fund,[7] who is also senior counsel to Bracebridge Capital.[8] [9] Its chief operating officer is John Spinney.
The fund had a 10% annual return from 1994 to 2016.[4] Initially, it received $50 million from Tom Steyer's Farallon Capital and David F. Swensen, who runs Yale University's endowment.[4] Later, Andrew K. Golden, the manager of Princeton University's endowment, also became a major investor in Bracebridge Capital.[4] By 2012, it had $5.8 billion of assets under management.[4]
By February 2016, it had assets of $10.3 billion,[10] making it the largest hedge fund managed by a woman in the world.[4] It also had more than 100 employees by February 2016.[4]
In March 2016, it was announced that the firm would receive $1.5 billion from the Argentine debt restructuring.[11] It was one of four hedge funds which former president Cristina Fernández de Kirchner called "vultures” and “financial terrorists."[12]