Wednesday, 8 July 2015
Last updated 6 hours ago
Jan 19 2011 | 5:06am ET
Former D.E. Shaw Group distressed investing chief Daniel Posner is still launching his own hedge fund, but he isn’t doing it alone. Posner has joined credit investing firm Golub Capital and will launch a hedge fund joint venture alongside it.
The Posner/Golub fund will debut in the second half, the Financial Times reports, employing a long/short strategy. It will be Golub’s first-ever hedge fund.
Posner will serve as president and chief investment officer of the still-unnamed joint-venture, which will be separate from Golub. The firm plans to use its lending expertise to give it a leg up in the distressed markets.
Posner left D.E. Shaw in November, after the firm laid off some 10% of its staff in the wake of investor redemptions. A spokeman for D.E. Shaw said his departure was unrelated to the layoffs. During his nine years at the firm, he led the firm’s Portfolio Acquisitions Unit after a stint as global head of distressed and credit markets. Prior to joining D.E. Shaw, Posner worked at hedge fund Intermarket Corp. and in the distressed debt and special situations group at UBS Warburg Dillon Read.
May 27 2015 | 2:15pm ET
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