Millstreet Capital Management LLC (“Millstreet” or the “Firm”) is a Boston based SEC-registered investment adviser with an objective to compound superior absolute returns that are uncorrelated to fixed income and equity indices. Millstreet invests in opportunistic and event-driven High Yield with a focus on the inefficient and overlooked small-to-mid capitalization (“SMID”) segment of the market. Millstreet has constructed its entire organization around exploiting the inefficiencies inherent in this niche of the market. To find outsized returns in investing, you generally have to go where others are not. The SMID cap niche of the market is the place to go. By having capabilities that range from new issue origination, stressed, distressed, restructuring and post-reorganization, Millstreet has the full suite of skills needed to capitalize on this inefficient segment of the market. The Firm was founded in 2010 and is 100% employee owned.
The origin of the Millstreet name is based on the town in County Cork, Ireland, where Craig Kelleher's late father Timothy "Ted" Kelleher grew up. The town has a population of less than 2,000 and sits at the foot of Clara Mountain. The Millstreet logo was designed to represent not only the "M" and "S" of the Millstreet name, but the "M" also represents Clara Mountain while the "S" symbolizes the Blackwater River which runs near the town of Millstreet.