Plainfield Asset Management

Plainfield Asset Management was a Greenwich, Connecticut-based hedge fund and investment firm that specialized in distressed debt and special situations. Founded in 2005 by Max Holmes, the firm was a significant financial player in the life sciences sector, providing debt financing and capital to various biotechnology and pharmaceutical companies. At its peak, Plainfield managed over $5 billion in assets, but it faced severe liquidity issues and high redemption requests following the 2008 financial crisis. The firm subsequently entered a wind-down phase and liquidated its portfolios in the early 2010s. While it was not a drug developer itself, its aggressive investment strategies made it a well-known entity in the biotech financing landscape.