Where is Garda located?

Garda is headquartered in Wayzata, US.

Garda

Institutional investor

Wayzata · 8 people tracked

Also known as GARDA CAPITAL PARTNERS LP

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Investment thesis

Garda runs a single fixed income relative value strategy aimed at protecting and growing capital for institutional investors. It captures opportunities arising from disparities in global interest rates and sovereign debt instruments across developed markets, using proprietary analysis to exploit supply-and-demand imbalances in sovereign bonds, segmentation among interest rate futures, cash bonds and swaps, and divergent monetary policies. Portfolio construction relies on long/short relative value positions intended to deliver consistent returns uncorrelated to broader markets across cycles.

Invests inGlobal

Source: firm website, verified Sep 29, 2026.

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Wayzata, US

Founded

2016

AUM

$207.1B

Team · 8 people

from the firm's website

Jeff Drobny· Chairman of the Board & Chief Executive Officer

Co-founder and CEO of Garda, providing overall leadership. He launched the Fixed Income Relative Value Strategy at Black River in 2003 and previously worked in Cargill's Financial Markets Group. He holds an economics degree from Union College and an MBA from Kellogg.

Tim Magnusson· Chief Investment Officer· Greater Minneapolis-St. Paul Areain

Co-founder of Garda and CIO of its Fixed Income Relative Value Strategy, which he has managed since becoming senior portfolio manager at Black River in 2008. A CFA charterholder with a business degree from Central Michigan University and an MBA from Thunderbird.

Dan McCloskey· Deputy Chief Investment Officer· Genevain

Deputy CIO and head of the Geneva office leading the European government bond relative value team. Prior to Garda he spent over eight years at Barclays Capital as co-head of European government bond trading.

Gary Cameron· Deputy Chief Investment Officer· New Yorkin

Deputy CIO and head of the New York office, and member of the Office of the CIO and Investment Committee. He joined Garda in 2016 after more than 18 years at JP Morgan, most recently as global head of USD interest rate swaps.

Peter McGarry· Deputy Chief Investment Officer· Geneva

Deputy CIO based in Geneva leading the macro relative value team and a member of the Office of the CIO and Investment Committee. He has been with Garda since inception with over 25 years of macro relative value experience.

Frederic Vereecken· Chief Operating Officer

COO responsible for Garda's operational functions, previously Deputy COO and a portfolio manager for North American fixed income relative value trading. He joined Black River in 2002 and holds engineering and MBA degrees from Gent and Wharton.

Kris Kittiko· Chief Financial Officer

CFO overseeing Garda's finance, accounting, tax and reporting functions. She was previously Controller at Black River Asset Management and held operations roles at CarVal Investors.

Patrick Shane· General Counsel· New York, New York, United Statesin

General Counsel handling legal, regulatory and compliance matters, formerly Garda's Chief Compliance Officer. He previously worked at Wayzata Investment Partners and Faegre Baker Daniels and served as a U.S. Army attorney.

Fund performance · per public LP disclosures · 2

as of Dec 2024

Fund	Vintage	Committed	Net IRR	TVPI	DPI
Garda Fixed Income Relative Value Opportunity Fund (Onshore) LtdLPs: Florida State Board of Administration	2019	—	10.8%	1.69x	—
Garda FIRV Opportunity FundLPs: Florida State Board of Administration	2001	—	11.8%	—	—

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).