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Advent Capital Adds Investment Management Veteran to Business Development Team

NEW YORK, NY--(Marketwired - December 01, 2016) - Advent Capital Management LLC (Advent), an investment management firm with approximately $8.9 billion in assets under management, announced today that Michael Cavanaugh has joined the firm as managing director, reporting to Kris Haber, the firm's Chief Operating Officer. Michael will be responsible for business development in this new role, focused on institutional allocators across North America.

"Given low or negative interest rates globally, challenged GDP growth and a volatile geopolitical environment, institutional investors are searching for alternate fixed income and other novel investment solutions. In response to these challenges, we believe it's important to increase our client advisory presence to cater to global investors," said Haber. "Michael will greatly help us respond to this growing demand. His proven ability to collaborate with allocators and consultants makes him an important addition to our team."

Advent is expanding its footprint, building on more than two decades of consistently delivering competitive and innovative investment strategies. Cavanaugh said, "The industry is going through a profound shake-up, and with such a strong client-centric and solutions-driven mentality, Advent is well positioned to benefit."

Cavanaugh, who will divide his time between New York and Boston, brings more than 20 years of experience in the investment management industry. Prior to joining Advent, Cavanaugh was a managing director with Wellesley Investment Advisors in Wellesley, Massachusetts where he was responsible for launching the group's presence in the institutional market.

He spent the beginning of his career, from 1994-2005, on the sell side in equity research and sales in New York and Boston. During this period, he was affiliated with firms such as Salomon Brothers, Lazard, and Bear Stearns. He transitioned to investment management in 2005 and held senior positions at State Street Bank & Trust. Cavanaugh holds an MBA in finance from Vanderbilt University and a BA in economics from Trinity College.

About Advent Capital Management, LLC

Founded in 1995, Advent Capital Management LLC is a Registered Investment Advisor that manages $8.9 billion on behalf of institutional investors and private clients. Advent is headquartered in New York with an office in London, and manages capital across a variety of alternative, long-only and closed-end fund strategies. The firm's proven proficiency in investing across the entire capital structure is driven by a credit-first approach to bottom up, fundamental analysis and proprietary credit and equity research.

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