400 Capital Management is an alternative credit asset manager founded in 2008
by credit market veteran Chris Hentemann. Chris, with partners Alex Cha,
Todd Leih and Bill Sanders, have been investing, innovating and trading in credit and structured markets for over three decades.
Chris Hentemann organized and launched 400 Capital Management LLC (“400CM”) in October 2008. Chris is Chief Investment Officer and Chairs the Firm’s Operating and Investment Committees. Prior to 400CM, Chris was the Head of Global Structured Products at Banc of America Securities (“BAS”) where he led the strategy for lending, securitization, trading, sales, research and investment management of residential and commercial mortgage, asset-backed, CLO, tax and credit derivatives. Prior to joining BAS, Chris spent two years at Salomon Brothers Inc. as a Vice President and senior trader in residential mortgage securities, CMOs and derivatives. Chris began his career at CS First Boston where he was responsible for trading and structuring residential mortgage securities, CMOs and derivatives. Chris serves on the Board of Directors for the Boston College Wall Street Council, Domus Kids and the Henrik Lundqvist Foundation. Chris graduated from the Carroll School of Management at Boston College in 1990 with a Bachelor of Science in Finance.
Bill Sanders is Partner, President, Chief Operating Officer and Chief Risk Officer. He serves as a member of the Investment and Operating Committees and is responsible for investment policy, capital allocation, risk management, business development as well as general business operations. Prior to 400CM, Bill was a Founding Partner, Board Member and Co-Head of Trading for Amherst Holdings LLC, a privately held financial services firm specializing in structured credit investments. In his role at Amherst, Bill oversaw trading, capital allocation, risk management and compliance as well as general business operations. Bill has over thirty years of financial services experience and, in addition to 400CM and Amherst, has held senior trading and management positions at Freddie Mac, Banc of America Securities and First Boston. Bill earned a B.S. with honors in Business and Economics from the University of Delaware in 1986. Bill is a member of the Board of Trustees for The Jefferson Trust, a University of Virginia Alumni Association initiative, which makes grants to innovative ideas that enrich UVA and the student experience. He is currently an Advisor to In a Perfect World whose mission is to inspire and empower young people with the opportunity, tools and voice to make an impact on the world. Bill is the founding Chairman of The Wine Advocate Fund for Philanthropy whose focus was to raise money for various types of cancer research which has benefited the Dana Farber Cancer Institute and Johns Hopkins Medical Center. Bill previously served on the Board at PSI; a Washington, DC based nonprofit providing global health services in more than fifty countries (www.psi.org).
Alex Cha is a Partner and Head of Portfolio Management and Trading. He is a member of the Investment and Operating Committees. Alex is responsible for asset allocation, sector allocation, asset selection, trading and risk management. He joined 400CM from Banc of America Securities (“BAS”) where he was the Head of ABS Credit Trading responsible for a team of traders and quantitative analysts committing capital in private label RMBS, credit derivatives, whole loans and residuals. During his fourteen year tenure at BAS, Alex also spent two years in London developing the firm’s expertise in dollar and non-dollar denominated ABS as Head of European ABS trading and syndicate. Prior to London, Alex‘s previous trading responsibilities included Head of Structured Finance, CDO trading and syndicate, Agency CMO trading and ABS trading. Before joining the financial industry, Alex worked at Lockheed Martin where his primary responsibility was Naval Weapons Systems design for the U.S. Navy. Alex holds a Masters in Electrical Engineering from Johns Hopkins University and a MBA from the University of Chicago. Alex holds a B.S. in Computer Science from Rensselaer Polytechnic Institute.
Todd Leih is a Partner and Senior Portfolio Manager. In this capacity he is responsible for sector allocation, asset selection, trading and risk management. He serves as a member of the Investment and Operating Committees. Prior to joining 400CM, Todd was a senior portfolio manager for Jane Street. During his tenure at Jane Street, Todd developed, executed and managed the portfolio strategies for distressed structured credit products. Prior to Jane Street, Todd was a Principal at Banc of America Securities (“BAS”) where he was a senior market-maker for RMBS trading and helped develop the Firm’s early experience trading synthetic RMBS index products such as ABX. Todd joined BAS in 2002 as a research analyst covering consumer ABS strategies. Prior to BAS, Todd worked for i2 Technologies as a software engineer and Salomon Brothers as a MBS research analyst. Todd graduated from the Massachusetts Institute of Technology in 1997 with a Bachelor of Science in Mathematics.