Brian Joseph Higgins

King Street Capital Management L.P.

Brian Joseph Higgins

Assets Under Management: $19.5 B
Net Worth: $1.6 B
Age: 53
Location: New York, NY
Education: Villanova University
 

Brian Joseph Higgins: King of Wall Street, Boss of King Street

An old adage says that everybody’s a genius during a bull market.  Hence, the real touchstone of a quality investment firm is how it performs when the markets are in free fall.  In America’s most turbulent times, Brian Higgins has demonstrated that when markets falter, he doesn’t.

At 53 years of age, Brian Joseph Higgins has amassed a personal net worth of $1.6 billion.  He is best known as a cofounder of King Street Capital Management, a New York-based, distressed-debt-focused hedge fund.  Founded in 1995 with Francis Biondi Jr., King Street manages $20 billion in assets and has offices in New York, London, Singapore, Tokyo, and Charlottesville, Virginia.

In 2018, King Street Capital Management stands as one of the world’s largest and most successful distressed-debt hedge-fund firms. They primarily invest in public equity and fixed income markets across the globe, with a concentration on distressed companies, equity, bonds, foreign exchange, warrants, and options.  

What sets Brian Higgins’ firm apart from the competition is its track record during the vicious market downturn America experienced with the Great Recession.  In fact, the King Street, LP hedge fund gained 2.5% in 2008 while most distressed-debt firms lost vast sums of capital. In 2009, also a painful year in the global equities markets, the fund returned 20%.  Stunningly, the fund has never had a down year since it started in 1995.

King’s Street’s trend-bucking performance during a time of crisis thrust co-founders Higgins and Biondi into the spotlight: thanks to their prescient investment in distressed securities, the fund raked in earnings of $375 million in 2009 while many financiers were just trying to survive.

Prior to co-founding King Street Capital Management, Brian Higgins started his career in 1987 at First Boston.  That’s where Mr. Higgins first met Francis Biondi, as the twain were part of the group that formed the First Boston Special Situation Fund in the early 1990s.  In the mid-nineties they left First Boston and join forces to establish King Street – and the rest, as they say, is history.

Thus, Higgins, Biondi, and King Street really did become the kings of Wall Street when others were running for cover.  Still high-profile and hugely profitable, King Street and its co-founders are living proof that the crucible of market turmoil can, on occasion, produce greatness. 

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