SERENGETI ASSET MANAGEMENT LP

Thesis

Serengeti Asset Management LP, founded in 2007, is a US-based investment firm that operates as an opportunistic value investment adviser. Their core strategy is to generate attractive absolute and risk-adjusted returns by identifying and exploiting market inefficiencies. They focus on complex situations, hard-to-source assets, non-traditional underwriting, and investment sizes often overlooked by larger credit players. The firm employs innovative structuring and creative approaches, with a particular emphasis on the technology and defense sectors. Their investment thesis centers on opportunities in liquidations, bankruptcies, misunderstood companies, fundamental deep value, secular shifts, turning points, dislocations, and out-of-favor asset classes. Serengeti provides sophisticated financing solutions to innovative private companies and their shareholders, often through bespoke financial engineering. Their investment activities span across debt and equity markets, encompassing a broad range of instruments including equities, bank loans, bonds, distressed companies, structured finance, private investment opportunities, derivatives, commodities, currency instruments, and litigation finance. They deploy capital across four key strategies: Private Stock Finance for late-stage growth companies, Rochefort & Direct Lending in partnership with Hayman Capital Management for businesses critical to national security, Litigation Finance for plaintiffs, and Special Situation Investments in sectors like financial services, software, defense-tech, and sports and media rights. As of December 31, 2025, Serengeti managed approximately $1.475 billion in regulatory assets under management. They operate globally, concentrating on market segments attractive based on size, complexity, or unique catalysts for value creation, with an inclination towards later-stage private equity and venture debt.

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