Multi-Manager “First Loss” Model
First-loss, multi-manager and multi-strategy liquid securities platform.
Topwater Capital (“Topwater”) manages a multi-strategy, multi-manager fund wrapped in a unique structure commonly referred to as “first loss”, which seeks to mitigate drawdown risk for investors. The strategy is managed by Bryan Borgia and Travis Taylor, who pioneered the first-loss model of fund investments and have been sourcing, structuring, funding and risk monitoring first-loss managed accounts since 2004.