Pugh Capital was founded with the goals of making a positive difference for our clients, our team and our communities. We seek to achieve these objectives with strong risk-adjusted returns and downside risk management for our clients and by using our firm’s success to support our communities both locally and nationally.
Firm Profile
- POISED—Passion, Ownership, Integrity, Service, Excellence, and Diversity—defines who we are and how we show up.
- A diverse team of seasoned investment professionals specializing in fixed income solutions across the credit and maturity spectrum.
- An established and collaborative investment process that adapts to market shifts while maintaining a focus on risk management and long-term growth.
- A culture of ownership, accountability and integrity that fosters alignment with client goals and interests.
- A founder and employee-owned firm, deeply committed to inclusivity and supporting our community.
Mission
Vision
Although we’re growing steadily each year, our vision remains the same as it was when we started Pugh Capital in 1991. We’ve always looked to the future through several lenses: First, to be an independent fixed income firm that clients view as a strategic partner. Second, to remain rooted in our values. And third, to work with team members who share our values and who care about giving back.
Who We Serve
- Corporate Pension Plans
- Corporate Treasury Assets
- Public Pension Plans
- Endowments
- Foundations
- Taft-Hartley/Union Plans
- Insurance Companies
Our History
Pugh Capital Management, founded in Seattle in 1991 by Mary Pugh and Scott Greiwe, began with a single account and $5 million in assets under management. The firm was built on a foundation of deep fixed-income expertise. Pugh Capital manages $13 billion across Core, Long Duration, High Yield and Custom strategies for diverse institutional clients.
As a 100% employee- and founder-owned firm, our independence and long-term alignment with our clients remain central to who we are. Collaboration and diversity of thought are pillars of our decision-making and client service. These principles are embedded in our culture and reflected in the way we nurture talent, foster inclusive leadership, and make investment decisions. Pugh Capital’s core values, POISED: Passion, Ownership, Integrity, Service, Excellence, and Diversity, are at the heart of the firm’s mission to deliver solutions to our clients and to create long-term partnerships.
In April 2025, Pugh Capital acquired SKY Harbor Capital Management’s U.S. High Yield business. SKY Harbor was a women-led firm founded by high-yield specialists Hannah Strasser and Anne Yobage. This acquisition added approximately $2 billion in assets under management and expanded Pugh Capital’s fixed-income offerings to include high-yield strategies, enhancing our ability to serve clients across the full credit spectrum.
The integration also expanded Pugh Capital’s employee base, with an investment team of over 20 professionals, strengthening credit expertise and increasing scale for long-term growth. The combined organization’s enhanced resources will increase our impact in credit selection, launch new products, and enhance client engagement through expanded thought leadership and strategic insights, further positioning our firm’s goal to be a trusted partner in fixed income management.
*Past performance is not a guarantee or a reliable indicator of future results. Investing involves risk; principal loss is possible. Investors should carefully consider risk when investing in bonds, which include, but are not limited to, default, credit rating, interest rate, duration, prepayment, liquidity, and structural risks. There is no guarantee that investment strategies presented will work under all market conditions. Risk management processes cannot eliminate the risk of losses. Diversification does not assure a profit nor protect against loss in a declining market.