Jim Walker has rejoined Black Diamond Capital Management, the alternative asset management firm he co-founded in 1995, as president and senior managing director.
The role is a new one at the firm, said Mr. Walker in an interview.
Steve Deckoff, founder and managing principal, in a news release said Mr. Walker is coming back to the firm at a pivotal time in Black Diamond's evolution, amid growing investment opportunities across all the firm's investment platforms.
Black Diamond focuses on performing and distressed credit, restructurings and business turnarounds.
Mr. Walker said he first left Black Diamond in 2003 but returned to the industry with Fir Tree Partners in early 2008 to build out that firm's distressed U.S. housing market business.
He left nine years later to pursue other interests, including mountain climbing. But just as the start of the global financial crisis in 2008 presented challenges that drew him back to the industry, Mr. Walker said the current moment in time — with tightening credit, real estate market stresses and geopolitical tensions — looks set to offer up another interesting cycle.
Black Diamond has over $10 billion in assets across four core platforms: control distressed and special situations private equity funds; hedge funds; noncontrol stressed and distressed closed-ended funds and collateralized loan obligations and structured products.