Angelo Gordon Hires Blackstone Credit Specialist Baumgarten

Aug 26 2015 | 1:32pm ET

Alternative investment manager Angelo Gordon has hired Joshua Baumgarten as a senior managing director and head of credit.

Baumgarted, currently a senior managing director for Blackstone, will report directly to Angelo Gordon co-founder and CIO Michael Gordon. He will oversee the firm’s credit strategies, which include U.S. and European Distressed, Leveraged Loans, RMBS/ABS/Whole Loans, CMBS, Middle Market Lending and Energy Lending. The credit portfolio managers, and their investment teams, remain the same. 

Baumgarten will become a member of the Angelo Gordon’s senior management team, a member of the firm’s executive committee, and a partner. He will start in 2016.

“Over the past five years, we have grown and diversified our credit platform as our clients continue to use credit as an important part of their asset allocation,” Mr. Gordon noted in a statement. “We have intensified our distressed debt efforts in Europe and added new origination teams in middle market lending and energy lending. Josh’s role will be to continually enhance the success of our credit platform by working closely with each investment team and our clients to meet their return goals.”

John Angelo, co-founder of Angelo Gordon and CEO, added, “Michael and I will be as active as ever in the business. Michael will continue in his role as CIO and will continue to play a major role in all strategic decisions for the firm. Our intention is to make the company stronger. Josh helps us do that.”

At Blackstone, Baumgarten oversaw credit investing for Blackstone’s hedge fund solutions group. He has worked closely with some of the most well regarded credit investors around the globe, and played a key role in Blackstone’s global co-investment business. He joined Blackstone in 2007.

Beforehand, he was a portfolio manager and trader at BlackRock focusing on high-yield, and started his career at Jefferies 

Founded in 1988, Angelo, Gordon & Co. focuses on three core competencies - credit, real estate, and private equity. The company currently manages approximately $27 billion. 

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