Chapter 10

Josh Friedman and Mitch Julis

Doyens of Debt

JOSH FRIEDMAN AND MITCH JULIS have been friends since their days at Harvard University, where they both pursued dual graduate degrees in law and business. Almost thirty years have passed since their meeting in Aldrich Hall, where the two attended first-year business school classes, and almost two decades have gone by since they began running the now $17 billion Canyon Partners in Los Angeles. For most of the 1980s, Friedman, fifty-one, and Julis, fifty-two, worked for junk-bond king Michael Milken at Drexel Burnham Lambert in Los Angeles. Those years honed their understanding of debt markets, and that in-depth knowledge, combined with seventeen years of investing experience since, they say, ...

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