About
Carronade Capital Management is a hedge fund founded in 2017 by Dan Gropper and based in Darien, Connecticut. The firm manages approximately $3 billion and specializes in distressed debt and event-driven investing with an activist approach. Carronade focuses on non-traditional, undervalued debt instruments, combining fundamental business valuation with proprietary legal and capital structure analysis. The firm maintains a concentrated portfolio of 35-60 positions with typical gross long exposure of 65-85% and gross short exposure of 25-45%. Gropper has dedicated his career to corporate bankruptcy investing and restructurings, serving as lead activist for distressed situations and working constructively with management to implement restructuring strategies.
Investment Focus
Carronade pursues a distressed debt and event‑driven strategy, targeting undervalued debt in bankruptcy and restructurings. It blends fundamental analysis with proprietary legal and capital‑structure expertise to spot mispriced opportunities. Carronade takes activist positions to influence outcomes through engagement with management and boards, maintains concentrated positions, and leverages deep restructuring experience.