Decoding financial ecosystems.
Seeking to deliver risk-adjusted returns.

Marek Capital combines top-down thematic analysis with bottom-up fundamental research across mortgages, rates, securitized products, corporate credit, and related equities.

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A New Paradigm in
Alternative Investing

Marek Capital is an alternative asset management firm co-founded by Matthew Cherwin, former Chief Investment Officer of JP Morgan, and Derek Goodman, former Managing Partner of Autonomy Capital.

Launched during a period of evolving market conditions and structural shifts, Marek combines top-down thematic analysis with bottom-up fundamental research across mortgages, rates, securitized products, corporate credit, and related equities.

50+
Years Co-Founders Combined Experience
$60+
Trillion Estimated Addressable Global Fixed Income and Related Securities

The MCCLR Framework

Our proprietary analytic lens examines the fundamental elements of Money, Capital, Credit, Liquidity and Regulation which we believe drive economies, markets and prices.

M
Money
How it is created, how it is destroyed, and how it flows through financial systems.
C
Capital
Who has it, how it is measured, and how it can be and is deployed.
C
Credit
How it's formed, how it is extended and withdrawn and by whom.
L
Liquidity
Where it comes from, where it goes, what happens when it disappears.
R
Regulation
The impact of existing, changing and disconnected regulatory frameworks.

Core Markets

We operate across key fixed income and related markets, finding value in the gaps between traditional silos.

Mortgages

  • Agency TBAs & Pools
  • Mortgage Derivatives
  • Mortgage Options

Interest Rates

  • Government Bonds
  • Swaps
  • Futures
  • Listed & OTC Options

Securitized Products

  • Non-Agency RMBS
  • CMBS
  • Digital Infrastructure
  • CLOs
  • ABS

Corporate Credit

  • Investment Grade
  • High Yield & Crossover
  • Financials & Consumer
  • Related Equities

Why Marek Capital

We believe the following differentiate our approach — three structural advantages we believe may provide advantages over market cycles.

01

MCCLR Framework

A foundational analytical lens that examines the plumbing of the financial system — and aims to identify structural dislocations and regime shifts.

02

Deep Institutional Experience

Our CIO managed JPM's $1T+ portfolio as Chief Investment Officer. Our CEO scaled the firm from $300M to $7B+ AUM across multiple market cycles.

03

Cross-Asset Approach

Our flexible mandate allows us to monetize overlaps and bridge the gaps between asset classes — seeking to identify and capitalize on dislocations across mortgages, rates, securitized products, and corporates that siloed managers structurally cannot.

The Founders

Decades of institutional experience at the highest levels of global finance.

MC

Matthew Cherwin

Co-Founder & CIO

Former Chief Investment Officer and Treasurer of JP Morgan (2019–2022). Managed the firm's $1T+ investment portfolio and $600B+ liquid securities portfolio. Previously Co-Head of Global Spread Markets (2015–2019), and Global Securitized Products (2009–2015).

Wharton BS Economics
DG

Derek Goodman

Co-Founder & CEO

Former Managing Partner of Autonomy Capital (2009–2019). Scaled the firm from $300M to $7B+ AUM across multiple market cycles. Previously Managing Director at Millennium Partners.

Wharton BS Economics

From Thesis to Portfolio

A disciplined and repeatable investment process, which we believe translates macro insight into risk-managed positions.

01
MCCLR Analysis
Map money flows, capital, credit, liquidity, and regulation
02
Security Analysis
Bottom-up research on individual instruments and structures
03
Trade Expression
Identify optimal instruments and structures to express the thesis
04
Portfolio Construction
Size positions relative to conviction and correlation
05
Risk Management
Continuous monitoring, hedging, and dynamic rebalancing

Recent Appearances

Marek Capital leadership sharing perspectives on markets, the MCCLR framework, and navigating today's fixed income landscape. Media appearances are for informational purposes only and do not constitute endorsements.

PODCAST

Masters in Business with Barry Ritholtz

CIO Matt Cherwin joins Bloomberg's Barry Ritholtz to discuss the MCCLR framework, navigating today's fixed income markets, and the investment philosophy behind Marek Capital.

Bloomberg Radio · March 2026
PANEL

Bloomberg Hedge Fund & Alternative Manager Forum

Matt Cherwin joins an elite panel of emerging managers at the Bloomberg Hedge Fund Conference, discussing market structure, opportunity set, and the investment approach at Marek Capital.

Bloomberg · June 2025

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We welcome inquiries from qualified investors and institutional allocators seeking differentiated exposure to fixed income and credit markets.

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Office 100 Park Avenue, 28th Floor
New York, NY 10017