Raven Rock Capital was formed in 2009 as an investment company specializing in hedge funds. Its first product, Raven Rock Credit Fund, was launched in September 2009. Its founders Nate Brown, Guy Caplan and Bobby Richardson worked together at their previous firm for ten years. All six members of the Raven Rock team are founding partners of the company and have worked together continuously since 2005. Raven Rock specializes in the US corporate credit markets. The Raven Rock Credit Fund is a corporate credit hedge fund with two core components: Directional Credit and Relative Value. The Fund invests in a wide range of credit qualities across the issuer’s entire capital structure. Raven Rock focuses on fundamental analysis in identifying investment opportunities. The Directional Credit portfolio includes both long and short positions in individual credits and event-driven trades. The Relative Value portfolio includes convertible arbitrage, capital structure arbitrage, and industry pairs trades. As of January 2013, Raven Rock manages $450m of client assets in the Raven Rock Credit Fund and separately managed accounts.