Joshua Baumgarten will be leaving his role at The Blackstone Group to fill the newly created position of senior managing director and head of credit at Angelo, Gordon & Co.

The move is slated to take place in 2016, Alex Stockham, spokesman for New York-based Angelo Gordon said via email. Baumgarten will report to Michael Gordon, chief investment officer and co-founder at the firm.   

In Baumgarten’s new role at the alternative investment firm, he will oversee the leveraged loans, U.S. and European distressed debt, RMBS/ABS/whole loans, CMBS, middle market lending and energy lending strategies. Angelo Gordon manages approximately $27 billion across the investment vehicles.Currently, he is a senior manager director of the Blackstone Group and Blackstone Alternative Asset Management, the firm’s hedge fund solutions unit. He joined the firm in 2007.

Prior to this, he was with BlackRock, where he was a portfolio manager and trader, focused on high yield portfolios.

Meanwhile, Angelo Gordon has plans for continued growth at the firm, it said Aug. 26. Baumgarten joining the team is expected to enhance the success of the credit platform.

“Over the past five years, we have grown and diversified our credit platform as our clients continue to use credit as an important part of their asset allocation,” Gordon said in the statement. “We have intensified our distressed debt efforts in Europe and added new origination teams in middle market lending and energy lending.”

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