Jason New joined alternative investment manager Onex Credit as co-CEO on Monday.
In this new position, Mr. New joins current CEO and director Stuart Kovensky in managing the firm's investment platform. He also will be responsible for developing new opportunistic credit and special situations strategies, spokesman William Szczecinski said in an email.
He will work from the firm's offices in New York and Englewood Cliffs, N.J.
"Jason brings an important new dimension to Onex Credit and positions us for growth through a variety of cycles. With his background and skills complementing the already talented group, we feel our leadership team is essentially complete," said Gerald W. Schwartz, founder, chairman and CEO of Onex Corp., the credit unit's parent company, in a news release.
Mr. New was a senior managing director at Blackstone Group and co-head of distressed debt and special situation investing for the firm's GSO Capital Partners division. He was replaced by Daniel Oneglia last year.
Onex Credit managed $11.6 billion in non-investment grade debt.