Veteran Distressed Investment Team Launches Invictus Global Management

Amit Patel and Cindy Chen Delano, Formerly of Whitebox Advisors, to Serve as Co-Chief Investment Officers

AUSTIN, Texas & NEW YORK--()--Invictus Global Management LLC, founded by partners Amit Patel and Cindy Chen Delano, formerly of Whitebox Advisors LLC, today announced its formation. Invictus is an alternative asset management firm built to employ a fundamental, event-driven approach to investing across distressed credit and related special situations opportunities.

Mr. Patel, a six-year veteran of Whitebox, and Ms. Delano, a three-year veteran of Whitebox, will serve as the firm’s Co-Chief Investment Officers. They bring proven experience in distressed investing along with differentiated expertise in bankruptcy law and restructuring litigation. Mr. Patel’s background also includes working on investment and advisory teams at firms such as Avenue Capital Management, Wellspring Capital Management, and Jefferies Group. Ms. Delano’s background extends to working as a restructuring attorney at leading international law firms, including Kirkland & Ellis LLP, Weil, Gotshal & Manges LLP and Milbank LLP, and serving as in-house counsel at AIG Investments.

“We are pleased to build on our experiences and success at Whitebox by launching a specialized investment management platform focused on distressed credit, bankruptcy trade claims and litigation finance,” said Mr. Patel. “Through our work together on a diverse set of complex situations, ranging from Puerto Rico’s multi-year restructuring to Westinghouse’s Chapter 11 bankruptcy, we’ve developed a unique approach that we’re excited to scale.”

“Looking ahead, we see a series of compelling opportunities materializing in the marketplace as the maturing economic cycle intersects with unbalanced global growth and tighter central bank policies,” noted Ms. Delano. “We believe Invictus is well-positioned to capitalize on this landscape thanks to our unique ability to combine value investing acumen, bankruptcy law and litigation expertise, and selective activism.”

Mark Strefling, Chief Executive Officer of Whitebox, added: “We wish Amit and Cindy the best as they take the next step in their careers. In addition to being valued members of our credit team, they embodied the strong principles and values that remain essential to our business.”

In addition to Mr. Patel and Ms. Delano, the firm’s third founding partner is Aaron Goldberg. Mr. Goldberg, who will serve as Chief Operating Officer, has spent more than three decades in the alternative asset management industry, including in c-level roles at firms such as Halcyon Capital Management and BlueMountain Capital Management.

Invictus is headquartered in Austin, Texas.

About Invictus Global Management

Invictus Global Management LLC is a privately-held alternative asset management firm that specializes in investing across distressed credit and related special situations opportunities. Based in Austin, Texas, the firm is built to produce optimal risk adjusted returns for public and private institutions as well as accredited individuals.


Aaron Goldberg


Aaron Goldberg