GoldenTree Asset Management co-founder Leon Wagner has come out of retirement to join hedge fund Trilogy Capital.
Wagner will serve as president of the Greenwich, Conn.-based credit hedge fund, according to a letter to investors. He will merge his LWPartners into the firm, which will be renamed TrilogyLWP and which will have about $450 million in assets under management.
The move comes just after Trilogy launched a new distressed assets fund, TFP II.
Trilogy founder Jonathan Rosenstein will remain the firm's chairman and CEO, and research chief Barry Kupferberg and chief operating officer Jeremy Garber will also stay in place. Wagner will be charged with business strategy and development.
Wagner co-founder GoldenTree in 2000 and retired from the firm as chairman in 2010.