Joshua S. Baumgarten will join Angelo, Gordon as senior managing director and head of credit.
The position is new, said Alex J. Stockham, a spokesman. A start date has not been set. Mr. Baumgarten will report to Michael Gordon, co-founder and chief investment officer, and will oversee the firm's credit strategies: U.S. and European distressed; leveraged loans; residential mortgage-backed securities; commercial mortgage-backed securities; asset-backed securities; whole loans; middle-market lending; and energy lending.
He also will serve on Angelo, Gordon's executive committee.
“The addition of Josh, an experienced credit investor, is intended to grow and enhance the vision, performance and capabilities of each of the firm's credit teams. The driver of this decision is that the firm has grown in size and complexity, thus necessitating the addition of senior leadership,” said Mr. Gordon in a news release.
Mr. Baumgarten is a senior managing director at Blackstone Alternative Asset Management, where he oversees the hedge funds-of-funds manager's credit strategies. He also has experience with global co-investment strategies at BAAM.
Peter Rose, a BAAM spokesman, did not respond by press time to a request for information about Mr. Baumgarten's successor.
Angelo, Gordon manages $27 billion, primarily in credit, real estate and private equity.