David Cody was named managing director, capital formation and business development, at Easterly Capital, said a company spokesman.
The position is new. Mr. Cody will oversee the expansion of the Easterly's distribution capability and focus on new investment opportunities for institutional investors. He will report to Darrell Crate, president and CEO.
Mr. Cody was co-founder and CEO of MatlinPatterson Asset Management. It could not be learned by press time whether he was replaced. Representatives from MatlinPatterson did not respond to a request for comment.
Easterly is a private equity firm with $1 billion in assets under management.