Christopher Allen was named a senior managing director and head of structured credit at Medley Management, spokeswoman Erin Clark said.
The position is new. Mr. Allen will be responsible for leading the firm's structured credit business, including investing in collateralized loan obligation equity and leading the expansion of Medley's CLO management business. He will report to Brook Taube, co-CEO of Medley.
Mr. Allen was a founding partner and chief operating officer at CVC Credit Partners. A spokeswoman declined to comment on his replacement.
Medley is a credit-focused asset management firm with $5.3 billion in assets under management as of Dec. 31.