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Angelo Gordon hires 2 for new long/short strategy

John Rudic and Michael Liebman were named managing directors at Angelo, Gordon & Co., said an internal memo obtained by Pensions & Investments.

These are new positions. Messrs. Rudic and Liebman will join the firm in the next few months and manage a new long/short strategy called Liquid Credit for the firm's multistrategy platform, the memo said.

Previously, Messrs. Rudic and Liebman were portfolio managers at Millennium Partners. A Millennium Partners spokeswoman declined to comment on the personnel changes.

Separately, Gavin Baiera, a managing director on Angelo Gordon's distressed debt team, is resigning at the end of July, according to the same memo.

An Angelo Gordon spokesman declined to comment on the personnel changes.

Angelo Gordon has $28 billion in assets under management.