Money Management

Tetragon Credit Income Partners adds CLO portfolio manager

Scott Snell joined Tetragon Credit Income Partners as a portfolio manager of collateralized-loan obligation strategies.

Mr. Snell started in the newly created position Sept. 13, spokeswoman Kate Sylvester said.

"The CLO market continues to be a dynamic space presenting many interesting investment opportunities, both near- and long-term," Dagmara Michalczuk, a portfolio manager on the TCIP team, said in a news release.

"As we look … to grow in this space, Scott's nearly two decades of experience navigating this sector will be crucial to our expansion and continued success," Ms. Michalczuk said.

Mr. Snell was managing director and head of BlackRock (BLK)'s U.S. CLO business within its credit unit. He left BlackRock in August and was replaced by Owen Butler, who was a managing director in BlackRock's financial markets advisory group, BlackRock spokeswoman Melissa Garville said. Mr. Butler's duties were assumed by others on his former team, Ms. Garville said.

TCIP manages $600 million in CLOs. The firm is part of Tetragon Financial Group whose investment units, including TCIP, manage a total of $2.2 billion in CLO equity.