Michael Hintze

Born in Australia and educated at the University of Sydney, Imperial College London, and Harvard Business School, Sir Michael Hintze's career began with roles at Salomon Brothers and Credit Suisse First Boston. This foundational experience in fixed income and derivatives provided him with a deep understanding of complex credit structures, a crucial antecedent to his later success. He served as the global head of emerging markets and then European head of convertibles during his tenure at these institutions, positions that honed his ability to identify value and manage risk across diverse jurisdictions and asset classes. In 1999, Hintze founded CQS (Credit Quality Syndicate) with an initial capital commitment from his previous employer, Credit Suisse. This move exemplified a strategic leap: leveraging an established network and reputation to launch an independent venture. His vision was to create a specialist credit investment firm, differentiating from generalist hedge funds. CQS's early success was predicated on its deep expertise in complex credit instruments, including convertible bonds, asset-backed securities, and distressed debt, allowing it to navigate and capitalize on market dislocations. Hintze's investment philosophy is characterized by a rigorous, research-driven approach to credit analysis and a strong emphasis on risk management. During periods of market volatility, such as the 2008 financial crisis, CQS demonstrated resilience, which cemented its reputation. This was achieved through active portfolio hedging and a dynamic allocation across various credit strategies, from long/short credit to structured credit and loans. The firm's ability to pivot and adapt to changing market conditions, for instance, by capitalizing on opportunities in post-crisis deleveraging, underscores Hintze's leadership. Under Hintze's guidance, CQS expanded its product offerings to include multi-strategy funds, long-only funds, and customized mandates. This diversification strategy allowed the firm to attract a broader investor base and grow its assets under management significantly, peaking over $20 billion. The acquisition of parts of PIMCO's credit business in 2017 further showcased CQS's acquisitive growth strategy and its intent to expand its global footprint and product suite, particularly in collateralized loan obligations (CLOs) and bank loans. Hintze's enduring focus on talent development and institutionalizing intellectual capital has been key to CQS's longevity. He fostered a culture that combines quantitative analysis with qualitative fundamental research, creating a robust framework for investment decisions. His commitment to identifying mispriced credit opportunities and implementing disciplined risk controls has allowed CQS to consistently strive for uncorrelated returns for its investors, a hallmark of successful alternative asset management firms.