Shorewood Management, LP is an investment manager based in Dallas, Texas. Shorewood is affiliated with Acis Capital Management, LP, an alternative credit manager and registered investment adviser founded in 2011 with approximately $2 billion of assets under management. Josh Terry acquired Acis in February 2019 and serves as Founder and President of Shorewood.
Joshua N. Terry, CFA
Josh is the Founder and President of Shorewood Management, LP and its affiliate Acis Capital Management, LP, an alternative credit manager and registered investment adviser with approximately $2 billion of assets under management.
Prior to forming Shorewood, Josh co-founded Acis in 2011, which he helped grow to $3.7 billion of assets under management across its hedge fund, CLOs and separately managed accounts before his departure in June 2016. Josh rejoined Acis as President in February 2019 after acquiring it.
In 2016, Josh formed The Garden Group to target control investments in small businesses, including a two-time member of the Inc. 5000 and SMU Dallas 100 lists of fastest-growing companies.
Josh currently serves on the boards of Uplift Education and Friends of the Katy Trail. He graduated summa cum laude from Baylor University, where he played on the men’s soccer team. He has earned the right to use the Chartered Financial Analyst designation.
February 20, 2019
Acis Capital Management, L.P. and Acis Capital Management GP, LLC (collectively Acis) announced that their Plan of Reorganization (Plan) became effective Feb. 15, 2019, and that they have emerged from Chapter 11 as a privately held company owned and operated by former partner, Joshua N. Terry. The United States Bankruptcy Court in Dallas, TX, confirmed Acis’ Plan on Jan. 31, 2019.
February 4, 2019
Acis Capital Management, L.P. and Acis Capital Management GP, LLC (collectively Acis), a Securities and Exchange Commission (SEC)-registered investment adviser and collateralized loan obligation (CLO) manager with approximately $2 billion in assets under management, announced today that the United States Bankruptcy Court in Dallas has confirmed Acis’ Chapter 11 restructuring plan. Prior to bankruptcy, Acis was owned and controlled by Highland Capital Management, L.P. and its affiliates (collectively, Highland).
Joshua N. Terry, former head of Highland’s structured products team and founder/former partner in Acis, and the holder of an $8 million judgment, successfully initiated and prosecuted an involuntary bankruptcy against Acis. The case was subsequently converted to Chapter 11.
Upon emergence from bankruptcy, Acis will be owned and operated by Mr. Terry. Acis’ plan of reorganization proposes to pay creditors in full. Brigade Capital Management, LP, a global investment management firm with over $20 billion in assets under management, is currently acting as sub-adviser for the Acis CLOs.