PENN Capital adds investor relations post for alternatives

Richard Griffith III joined PENN Capital Management Co.'s investor relations team, with primary responsibility for marketing the firm's alternative investment approaches.

Mr. Griffith's title is investor relations-alternatives, confirmed Reina S. Berlien, a company spokeswoman, in an e-mail.

It is a new position.

Mr. Griffith focuses on marketing the firm's event-driven hedge fund, PENN Capital Structure Opportunities fund. The strategy seeks to arbitrage pricing inefficiencies in long and short trades in credit and equity securities throughout the capital structure.

Mr. Griffith was most recently an associate vice president on the liquid markets sales trading desk at Barclays Capital, where he marketed to institutional and individual investors.

PENN Capital manages $7.2 billion primarily for institutional investors.