Anchorage Capital Group is a New York credit and special-situations hedge fund founded in 2003 by Kevin Ulrich and Tony Davis. It became majority owner of J.Crew Group in September 2020, when the retailer's Chapter 11 restructuring converted roughly $1.7 billion of debt into equity; GSO Capital Partners (a Blackstone credit affiliate) and Davidson Kempner Capital Management also hold stakes from the same deal. J.Crew Group, in turn, owns both banners below. No primary source discloses the exact ownership split among the three creditors.
2 companies on Ferret
Madewell
Clothing · 160+ locations — Madewell sells itself on a 1937 workwear heritage. J.Crew bought that name in 2004 from a long-closed Massachusetts factory it had no connection to, then built the brand from scratch. Its parent now answers to the creditors who took it over in bankruptcy.
J.Crew
Clothing · 115+ locations — J.Crew reads as a preppy American catalog brand, but its 2020 bankruptcy handed control to hedge fund Anchorage Capital Group after $1.7 billion in debt converted to equity. A 2023 investigation found migrant children sewing its labels in a Los Angeles factory.
Firm data last updated August 2026