Jamie Dinan: Over the Speed Bumps
Achieving whale status is a rougher ride than you might think. For some, and particularly for Mr. Jamie Dinan, becoming a financial whale meant losing it all – only to make it back and much more.
Born in 1959 in Baltimore, Maryland, James Gerard Dinan is an American investor, hedge fund manager, and philanthropist. He founded York Capital Management in September of 1991 with the goal of generating consistent, risk-adjusted returns across business and market cycles.
Located primarily in New York, London, and Hong Kong, York Capital Management has sought to achieve Mr. Dinan’s vision through a combination of focused research and investment selection, coupled with disciplined risk management. With approximately $20.5 billion in assets under management, Jamie Dinan’s firm leverages its global research platform to employ a multi-strategy, event-driven investment approach emphasizing the fundamental analysis of industries and businesses.
Clearly, Mr. Dinan’s strategy for his firm has paid off: In 2010, he sold a 30% stake in York Capital to Credit Suisse for $425 million. And, as of December 2012, York Capital was ranked as the 20th largest hedge fund in the world by The Hedge Fund Journal.
Not too shabby, considering the bumps in the road Jamie Dinan had to overcome. After obtaining his B.S. degree in economics from the Wharton School and an M.B.A from Harvard Business School, Mr. Dinan began his career at merger arbitrage firm Kellner DiLeo & Company. Unfortunately for Jamie, in 1987 the market crashed and he lost his entire $600,000 in savings.
This didn’t stop him, though: in 1991, Jamie Dinan was able to raise $3.6 million from his former colleagues at Donaldson, Lufkin & Jenrette to start York Capital. Two years later, his new fund earned credibility with a 33.8% return; by 2000, York Capital Management had over $610 million in assets.
Today, Jamie Dinan’s estimated net worth is $2.2 billion. His wealth has enabled Jamie to pursue other financial interests, such as when he purchased a minority stake in the NBA’s Milwaukee Bucks in 2014 with fellow investors Marc Lasry and Wes Edens.
Jamie’s wealth has also enabled him and his wife Elizabeth to give back to the community through the Dinan Family Foundation, which gave around $3.8 million recently. The
From financial zero to world-renowned hero, James Gerard Dinan has gone farther than most could imagine: over life’s speed bumps, and on to continued success and prosperity.