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 Sep 15, 2026.
What they invest in
from 8 of 36 portfolio companiesAdvanced Manufacturing ×4New Materials ×4Logistics & Supply Chain ×3Mobility & Transportation ×3Cleantech ×2Deep Tech ×2Retail Tech ×2AgTech ×1
HQs:United States×6Canada×1
Investments · 36 tracked
founders shown can be your intro pathAir Methods operates a fleet of helicopters and aircraft to conduct over 100,000 annual medical transports and emergency evacuations for hospitals and healthcare systems.
HealthtechLogistics & Supply ChainMedical DevicesMobility & TransportationBlairsville, US
Co-investorsAmerican Securities
Arclin is a materials and chemicals company producing performance polymers, engineered building solutions, and specialty fibers for construction, mining, agriculture, and defense applications.
Advanced ManufacturingAgTechCleantechConstruction TechDeep TechDefense TechNew MaterialsAlbany, US
Bakelite manufactures specialty chemicals and phenolic-based materials, including urea resins, aromatic polyols, formaldehyde, molding compounds, catalysts, and asphalt additives for industrial customers.
Advanced ManufacturingCleantechDeep TechNew MaterialsAtlanta, US
Leo Hendrik Baekeland
Hawaii's incumbent local exchange carrier providing integrated voice, video, internet and data services.
Interlink Maritime Corp. provides shipping tonnage to agricultural and industrial commodities companies, shipping firms, and end-users.
Logistics & Supply Chain
Co-investorsACE & Company
Smarte Carte manufactures and operates self-service luggage cart kiosks and related solutions in travel and leisure venues such as airports, rail stations, bus terminals, theme parks, and retail centers globally.
HardwareIoTMobility & TransportationRetail TechTravel & Hospitality
Drew Niemeyer(Chief Executive Officer)inScott Warren(Chief Financial Officer)inThor Osteboe(Chief Operations Officer)inSteven Wagner(Chief Commercial Officer)inGreg Schultz(Chief Legal Officer)inAnise Grajeda(Senior Director, Human Resources)in
Co-investors3i Group
A pulp and paper company that operates multiple mills in Québec, focusing on equipment improvements and process upgrades to maintain competitiveness in the pulp and paper industry.
Advanced ManufacturingCircular EconomyNew MaterialsGatineau, CA
Murray BrantDave Allenin
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AxiaBayou SteelBoomerangColor Spot NurseriesConstarDiagnostic Services HoldingsEmecoFXIHines GrowersIAPIONKolmarLegacy CabinetsPangeaPolynt-ReichholdPTC AllianceRitz Carlton San JuanRunning Aces Casino & RacetrackSun World InternationalTFLTRIARC TANKUSIValley JoistVentek SolutionsVertellusViasystemsWerner Ladder
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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