Greg Bassuk was named managing director and head of liquid alternative strategies at Franklin Square Capital Partners, spokeswoman Deborah Kostroun said.
The position is new. Mr. Bassuk will oversee the development and management of the firm's new liquid alternatives business. He will report to Michael Kelly, executive vice president and chief investment officer.
Mr. Bassuk was chief operating officer of IndexIQ, an ETF provider he co-founded and sold to New York Life Investment Management in December 2014.
Franklin Square Capital Partners managed $17 billion in assets as of Sept. 30.