Overview
Andrew Downes is a co-founder at Catylex [1]. Downes maintains a presence on X at @mrdownes [2].
Career history
- Co-FounderApr 2019 to PresentCatylex
- Chief Operating Officer, Founding PartnerNov 2011 to Apr 2019Atreaus Capital, LP
- Managing Director, COO of Global Credit Business & COO FICC AmericasAug 2004 to Apr 2011UBS
- Director, Legal DepartmentMay 1998 to Aug 2004Credit Suisse First Boston
- AssociateFeb 1995 to Apr 1998Baker & Mckenzie
- Associate to Judge of ACT Supreme Court and Federal Court of AustraliaJan 1993 to Jan 1994ACT Supreme Court
Education
Bachelor of Commerce - BCom, Accounting and Finance1987 - 1992UNSW
Insights & ideas
Andrew Downes focuses on the practical, often overlooked difficulties of extracting usable data from side letters in private equity and hedge fund contexts [1]. Drawing on his own experience at a hedge fund, he argues that firms typically capture only a small fraction of the data they would ultimately need from these documents, and that the gap becomes apparent only once specific issues arise [1]. A recurring theme in his thinking is the cost-benefit tradeoff involved in side letter data extraction: because comprehensive extraction is expensive, organizations are often forced into a reactive posture, pulling only "must-have" data rather than building complete datasets upfront [1]. This reflects a broader concern with how limited data access constrains decision-making in PE and hedge fund operations [1].
Media & appearances
- Andrew Downes discusses the practical challenges of obtaining data from side letters in private equity and hedge fund contexts, explaining how limited data access from side letters constrains decision-making and creates cost-benefit tradeoffs when extracting must-have information.YouTubeThe side letter problem in PE that nobody talks about | Andrew Downes ...
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