The founder of $500 million investment advisor Phoenix Investment Adviser has tapped a former colleague as a trader and senior research analyst.
Phoenix CIO Jeffrey Peskind has hired Dixon Yee, with whom he once worked at Banc of America Securities, to help with the day-to-day management of the firm’s JLP Institutional Credit Fund. The fund was recently seeded with $40 million by an unnamed European financial institution, part of the almost $200 million Phoenix has raised in the past 10 months..
Yee comes to Phoenix from Basso Capital Management where he was a portfolio manager. In addition to his time at Banc of America Securities, he has also worked as an analyst at Credit Suisse First Boston, Chase Securities and Oppenheimer & Co.
"We are excited to have someone with Dixon's investment acumen join our firm as we continue to see an increasing number of investment opportunities in our core markets," said Peskind in a statement."As Phoenix continues to raise assets, it is prudent to strategically grow our organization with best-in-class talent."
Phoenix has also tapped Erin Hubbard as senior associate of business development and investor relations for the firm. Hubbard brings more than eight years of experience in business development and marketing to her new post in which she will report to Phoenix President Michael Donaghue.
Phoenix is best known for its flagship JLP Credit Opportunity Fund, which has a nine-year track record investing in deeply discounted, stressed bonds it believes will avoid bankruptcy.