Mark Kramer was named managing director at PPM America, where he will work with the firm's real estate debt team focusing on higher yielding debt, a PPM spokeswoman said.
The position is new, the spokeswoman said. He will report to Kent Born, senior managing director and head of commercial real estate.
Mr. Kramer was a director of commercial real estate debt at BlackRock. A BlackRock spokesman said Mr. Kramer's duties are being reassigned to others on the commercial real estate debt team.
PPM America had $111.6 billion in total assets under management as of June 30, including $8.1 billion in commercial mortgage lending assets, $2.7 billion in commercial mortgage-backed securities and $2.6 billion in real estate investment trust debt.
