Himanshu Gulati was named head of U.S. distressed credit at Man GLG.
It is a new position; Mr. Gulati will manage a strategy that is slated to launch later this year. He is based in Man GLG’s New York office, spokeswoman Megan Ingersoll said in an e-mail.
“There is significant potential for both asset growth and acquisitions in the U.S.” in distressed credit and special situations, said Mark Jones, co-CEO of Man GLG, in a news release. He added that Mr. Gulati’s expertise with these securities in the U.S. market is important to the firm’s growth in this area.
Mr. Gulati was the managing partner responsible for hedge fund manager Perry Capital’s special situations and distressed credit investments.
A call to Michael C. Neus, a Perry Capital managing partner and general counsel, seeking information about Mr. Gulati’s replacement was not returned.
Man GLG, a wholly owned subsidiary of Man Group, managed $32.2 billion as of Dec. 31.