History

Hudson’s origins trace back to a joint venture between a third party investment group and the Federal Deposit Insurance Corporation in 1993, called Brazos Partners, L.P. (“Brazos Partners”), in which nearly 1,300 “bad bank” assets that were impaired as a result of the U.S. savings and loan crisis of the early 1990s were acquired and resolved. As Chairman and CEO of the general partner of Brazos Partners, John Grayken led the operation. After the majority of the assets held by Brazos Partners had been liquidated, Mr. Grayken began organizing institutional capital to continue pursuing investment opportunities on a larger scale. Brazos Fund, L.P. (“Brazos Fund”) held its initial closing in 1995 with approximately $250 million of capital commitments and subsequently targeted investments primarily in debt and real estate in North America. Brazos Advisors, LLC was established in 1995 to carry out the day-to-day management and servicing of the assets acquired by Brazos Fund. Mr. Grayken next organized Lone Star Opportunity Fund, L.P. (“Lone Star Opportunity Fund”), which held its initial closing in November 1996 with $396 million of capital commitments. Brazos Advisors, LLC, which was subsequently renamed Hudson Advisors L.P., provided asset management and other support services to Lone Star Opportunity Fund. Since the establishment of the first Fund in 1995, Hudson has provided asset management and day-to-day support services for investments made by the Funds. Read more about Managed Assets.