Tony Yoseloff is the Managing Partner of Davidson Kempner Capital Management, a forty-year-old, $40 billion multi-strategy hedge fund that specializes in opportunistic credit and event-driven investing. Tony joined DK twenty-five years ago out of business school and became its third Managing Partner in 2019. He also sits on the investment committees of Princeton University, Columbia-Presbyterian Hospital, and New York Public Library. Our conversation covers the early days of Davidson Kempner, growth over the last quarter century, team, investment philosophy, investment strategy, risk management, and ownership. We discuss Tony’s experience on investment committees, the role of opportunistic credit in institutional portfolios, and the future of Davidson Kempner over the next forty years. Show Notes: 03:38    Tony's background 09:06    Davidson Kempner's investment DNA 11:43    Milestones and growth of the business 16:55    International expansion 21:01    Medium duration investing 25:53    Evaluating and adopting new strategies 28:38    Structure of team 32:48    Management philosophy 34:51    Idea generation 41:02    Risk management 45:42    Importance of private partnership 47:53    Successful leadership transition 49:59    Experience on investment committees 53:23    Opportunistic credit in institutional portfolios 55:56    Davidson Kempner's next 40 years 59:08    Closing questions     Learn More  Follow Ted on Twitter at @tseides or LinkedIn  Subscribe to the mailing list  Access Transcript with Premium Membership