Leadership

A Conversation with Canyon Partners' Josh Friedman ’82

Harvard Law School
Harvard Law School•Mar 11, 2026

Why It Matters

Friedman’s story offers business students a blueprint for leveraging elite education, seizing emerging credit markets, and building entrepreneurial firms, reinforcing the strategic importance of adaptability in today’s finance landscape.

Key Takeaways

  • •Friedman leveraged dual JD/MBA to accelerate finance career.
  • •Left Goldman for Drexel, pioneering high‑yield financing for LBOs.
  • •Co‑founded Canyon Partners, focusing on deep‑value credit strategies.
  • •Emphasizes staying alert to unconventional opportunities and pivots.
  • •Highlights importance of exam mastery and disciplined investing mindset.

Summary

The event was a fireside chat at Harvard with Josh Friedman, co‑founder and co‑CEO of Canyon Partners, a $28 billion multi‑strategy alternative‑asset manager. Friedman’s academic pedigree—Harvard College, Oxford, Harvard Business School and Harvard Law School—set the stage for a discussion of his unconventional career trajectory.

Friedman explained why he pursued a joint JD/MBA, citing his father’s insistence on attending Harvard and eventually starting his own business. After a brief stint at Goldman Sachs, he left for Drexel’s bankruptcy group, where he helped pioneer the use of high‑yield bonds to finance leveraged buyouts, a practice that reshaped private‑equity financing in the 1980s.

He recalled a memorable anecdote about his roommate Mitch Julius, who mistakenly applied to a bankruptcy firm thinking it was entertainment law, only to discover a passion for restructuring. Friedman also highlighted his exam‑taking prowess, noting that mastering test strategies was as critical as raw intellect in his academic success.

The conversation underscored two lessons for aspiring financiers: stay alert to niche opportunities and be willing to pivot when market dynamics shift. Friedman’s journey from Wall Street analyst to founder of a deep‑value credit powerhouse illustrates how disciplined investing and a willingness to challenge conventional career paths can generate lasting value.

Original Description

The Harvard Association for Law and Business welcomed Josh Friedman ’82 for a fireside chat in February about leadership, markets, and his professional trajectory across law and finance. A graduate of Harvard College, Oxford University, Harvard Business School, and Harvard Law School, Friedman is co-founder, co-chairman, and co-CEO of Canyon Partners, an alternative asset management company based in Los Angeles.
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