Black Diamond Capital Management

Black Diamond Capital Management is a registered investment adviser that manages credit, stressed and distressed debt, collateralized loan obligations, and private equity funds. The firm was founded in 1995 by Stephen Deckoff, who is its managing principal.¹²

Registration and offices

The firm has been registered with the U.S. Securities and Exchange Commission since August 10, 2010. Its state notice filings are dated August 10, 2010 for Connecticut and April 1, 2013 for the Virgin Islands. Its most recent Form ADV Part 1A was filed on July 13, 2026.³

The principal office in the filing is 5330 Yacht Haven Grande, Suite 100, in St. Thomas, U.S. Virgin Islands. The mailing address is in Stamford, Connecticut. Other offices listed in Schedule D Section 1.F are in London, Stamford (two entries), Addison, Windsor, Santa Clara, and Grand Cayman.⁴

Assets and ownership

Item 5.F of the filing reports total regulatory assets under management of 10,714,142,774 dollars.³ The firm's website, as archived in 2020, stated that it managed over 8 billion dollars.¹ Forbes reported in 2023 that the Stamford-based company managed some 9 billion dollars in assets.²

Schedule A lists Deckoff as managing principal and a control person with an ownership code of E, meaning 75 percent or more. It lists Mounir Nahas as chief operating officer with an ownership code of B, meaning 10 percent to less than 25 percent, and Mitchell Goldfarb as general counsel and chief compliance officer from May 2026.³

Schedule B lists SD Investments, LLC, a domestic entity, as a member of Black Diamond Capital Holdings with an ownership code of E, dated October 2006. It lists Deckoff as a member of SD Investments with an ownership code of E, dated February 1997.³ The filing's firm record also lists Black Diamond Holdings, LLLP and Black Diamond Advisors, LLLP among the names under which the firm and its relying advisers appear, and a Schedule D ownership table lists Black Diamond Advisors, LLLP as a member with an ownership code of E, dated November 2021, under CRD number 290531.³

Affiliates in the Virgin Islands

The Virgin Islands Economic Development Authority's fiscal 2016 annual report lists Black Diamond Advisors, LLLP and Black Diamond Holding, LLLP among site visits for beneficiaries of the Economic Development Commission program.⁵ The fiscal 2023 report lists certificate orientations on February 7, 2023 for Black Diamond Advisors, LLC and Black Diamond Holdings, LLC, both recorded as modifications on St. Thomas.⁵ Suzanne Carlson reported in February 2026 that the two companies had received tax-incentive benefits from the commission since 2012.⁶

PTC Alliance Acquisition, 2009

In October 2009, PTC Alliance filed for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. Funds managed by the firm, identified as the pre-petition term lenders, signed an asset purchase agreement to act as stalking horse bidder for substantially all of the company's assets under Section 363. Deckoff, as managing principal, described the proposed transaction as establishing "a new corporation with a stronger balance sheet and lower cost structure."⁷

Schedule 13D filings

The firm (CIK 0001282197) and Stephen Deckoff filed Amendment No. 3 to a Schedule 13D for Consumer Portfolio Services (event date March 10, 2022) reporting 4,647,042 shares, 22.05 percent of the class, and an Amendment No. 1 for KVH Industries (event date February 3, 2023) reporting 3,298,597 shares, 17.20 percent. The KVH filing states that the company's board agreed in a cooperation agreement to nominate Deckoff as a Class III director. The EDGAR index also lists Schedule 13G filings by the firm for Hawaiian Telcom Holdco, Viasystems Group, Saratoga Investment Corp and Canterbury Park Holding Corp, and Form D notices for its funds.⁸