Private equity firm Sun Capital Partners has added a debt-trading veteran to run its hedge fund unit.
Michael Satzberg was named managing director of the $1.3 billion Sun Capital Securities Fund, a hybrid hedge fund focusing on distressed investing. He will be responsible for the development and management of the fund’s distressed debt and loan portfolio.
“With almost 20 years of bond trading and investing experience, Mike’s background will be extremely valuable as we focus our efforts on expanding our investment activity in distressed debt and loans,” Rodger Krouse, co-CEO of Sun Capital, said.
Satzberg joins Sun Capital from Jefferies & Co., where he headed trading and principal debt investments for several industry sectors. Before joining Jefferies in 1992, he managed a high-yield distressed bond closed-end fund for 1838 Investment Advisors.