SEC Filing Record

Offering Amount

$191.2M

Strategy

Hedge

Exemption

06b

Date Filed

May 19, 2026

0000950103-26-007432

View on SEC EDGAR →

37A Read

The dual GP structure—with Mudrick Capital Management, L.P. as the managing entity and Jason Mudrick plus Scott Bynum named individually—signals a formalized partnership arrangement where both principals carry personal liability and discretionary authority, a common pattern when co-founders or co-heads want to lock in governance alignment on a specialized strategy.

This is Mudrick's first stressed credit vehicle on EDGAR record, indicating the firm is either new to the SEC filing universe, has previously operated below the $150M AUM threshold that triggers registration, or is expanding into a distinct credit strategy separate from any earlier flagship funds—the stressed credit mandate itself is narrowly defined relative to broader credit or opportunistic credit funds.

A May 2026 filing for a stressed credit fund arrives during a period when interest rates have stabilized at elevated levels and credit spreads have compressed relative to 2024–2025 volatility, which typically narrows the opportunity set for traditional stressed trades but may signal conviction that specific sectors or dislocations remain exploitable.

Before committing, confirm whether this is a continuation of an existing Mudrick vehicle operating in side pockets or separately managed accounts, and verify the key-man definition tied to Jason Mudrick—stressed credit strategies often hinge on a single principal's sourcing and workout expertise, making succession and removal protections material to downside protection.

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Principals

General Partners & Executives

Mudrick Stressed Credit Fund GP, LLC Mudrick Capital Management, L.P. Jason Mudrick Scott Bynum

Mudrick Stressed Credit Fund, L.P.