Black Diamond Capital Management
Private equitySt. Thomas
Also known as BLACK DIAMOND CAPITAL MANAGEMENT I, LLLP
Investment thesis
Black Diamond Capital Management pursues credit-oriented and special situations investing across four platforms. Its hedge fund platform targets high-yielding senior performing debt, structured products, and stressed/distressed instruments and post-reorganization equities. Its control private equity platform gains control of sector-leading middle market companies by acquiring and restructuring senior secured debt plus selective equity investments and acquisitions. Its non-control platform invests in stressed and distressed bonds, leveraged loans, and reorganized equities of companies undergoing restructuring. Its CLO platform, launched in 1998 as one of the earliest market participants, invests in diversified pools of broadly syndicated performing senior secured loans. The firm applies a bottoms-up fundamental analysis approach and co-invests substantial capital alongside its investors.
Source: firm website, verified Aug 25, 2026.
What they invest in
from 8 of 36 portfolio companiesAdvanced Manufacturing ×4New Materials ×4Logistics & Supply Chain ×3Cleantech ×2Mobility & Transportation ×2Circular Economy ×1Enterprise Software ×1Hardware ×1
HQs:United States×3Canada×1
Investments · 36 tracked
founders shown can be your intro pathAir Methods is an air medical transport company that partners with EMS agencies and hospitals to handle patient logistics and provide critical care clinicians experienced in burns, cardiac, pediatric, respiratory, and trauma cases.
HealthtechLogistics & Supply ChainMedical Devices
Assembles, rents and refurbishes drywall taping and finishing tools under the Ames and TapeTech brands.
Bakelite is a chemistry company that develops and manufactures specialty resins, molding compounds, and related chemical products for industries including building and construction, transportation, consumer goods, electronics, and oil and gas.
Advanced ManufacturingCleantechNew MaterialsAtlanta, US
U.S. producer of steel long products for the non-residential and infrastructure construction industries.
U.S. manufacturer of welded OCTG used in oil and natural gas exploration and production.
One of the largest U.S. wholesale nurseries and the largest bedding plant producer in the West and Southwest.
Philadelphia-based global producer of PET plastic containers for food and beverages.
Nationwide provider of diagnostic imaging services including MRI, PET, CT and mammography.
Australia-based provider of heavy earthmoving and mining equipment rental and maintenance services.
Producer of polyurethane foam products for home, healthcare, electronics, industrial and transportation markets.
Hawaii's incumbent local exchange carrier providing integrated voice, video, internet and data services.
Producer, marketer and distributor of horticultural products including shrubs, plants and trees.
Provider of facilities management, contingency operations and technical services for the Department of Defense and U.S.
Interlink Maritime Corp. provides shipping tonnage to agricultural and industrial commodities companies, shipping firms, and end-users.
Logistics & Supply Chain
Co-investorsACE & Company
Television broadcasting company with a large U.S. broadcast network and station footprint.
Provider of outsourced manufacturing and packaging services to the U.S. health and beauty aid market.
Independent manufacturer of stock, semi-custom and custom kitchen and bath cabinets.
Formerly GST AutoLeather; designs and manufactures automotive leather interior trim solutions.
Global producer of unsaturated polyester resins and alkyd resins.
Global manufacturer of drawn-over-mandrel, cold-drawn seamless and ERW tubes and chrome-plated bars.
Luxury beachfront hotel with casino and spa in San Juan, Puerto Rico.
Card room with live harness horse racing, restaurant and simulcast wagering in Columbus, Minnesota.
Smarte Carte provides self-service concessions and services for travel and leisure venues, including luggage carts, secure lockers, wheelchairs, strollers, shopping carts, and massage chairs.
HardwareMobility & TransportationTravel & Hospitality
Co-investors3i Group
One of California's largest vertically integrated agricultural corporations growing and marketing fresh produce.
Global manufacturer of specialty chemicals for leather tanneries serving footwear, automotive, furniture and garment industries.
Formerly Arcosa Tank; Dallas-based maker of steel pressure vessels for energy and agricultural markets.
Installer of insulation, windows, doors and specialty products for residential and commercial construction.
Designer and manufacturer of steel joist and deck product systems.
Carveout from Sonoco; manufacturer of engineered molded foam components and protective packaging solutions.
Global provider of specialty chemicals for agriculture, nutrition, pharmaceutical, personal care and industrial markets.
Worldwide provider of printed circuit boards and electromechanical assembly services to OEMs.
Manufacturer of ladders and climbing products under the Werner, Keller, Green Bull and Stanley brands.
White Birch Paper manufactures newsprint, high-bright, directory, paperboard, 100% recycled kraft paper, and other specialty paper and paperboard products.
Advanced ManufacturingCircular EconomyNew Materials
Fund performance · per public LP disclosures · 4
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| BDCM Opportunity Fund IVLPs: Oregon Public Employees Retirement System, Los Angeles County Employees Retirement Association, Los Angeles City Employees' Retirement System | 2015 | — | 2.1% | 1.05x | 1.05x |
| BDCM Opportunity Fund IIILPs: Oregon Public Employees Retirement System, New York City Employees' Retirement System, New Mexico Educational Retirement Board +2 more | 2009 | — | 5.8% | 1.30x | 1.30x |
| BDCM Opportunity Fund IILPs: Oregon Public Employees Retirement System, New York City Employees' Retirement System, Teachers' Retirement System of the City of New York | 2005 | — | 18.3% | 2.80x | 2.74x |
| BDCM Opportunity FundLPs: Oregon Public Employees Retirement System, New York City Employees' Retirement System, Teachers' Retirement System of the City of New York | 2001 | — | 19.8% | 1.43x | 1.46x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has Black Diamond Capital Management made?
- Black Diamond Capital Management has 36 tracked investments.
- What sectors does Black Diamond Capital Management focus on?
- Black Diamond Capital Management focuses on Advanced Manufacturing, AgTech, Energy, Healthtech, Logistics & Supply Chain, Media & Entertainment, New Materials.
- Where is Black Diamond Capital Management located?
- Black Diamond Capital Management is headquartered in St. Thomas, US.
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