G2 Investment Group, a New York-based money manager, has scooped up a former Lehman Brothers’ private placement and illiquid credit trading team, the firm said yesterday.
The group, which was known as the “Esoteric Credit Trading” team at the now defunct company, will include new senior partners that are knowledgeable in the credit and research realm.
The team joins G2’s subsidiary G2 Capital Markets, the June 3 press release stated.
Collectively, Scott Best, a 14-year Lehman veteran, and James Gregorek, who has 21-years under his belt at the company, will help to lead the team expected to specialize in trading illiquid assets, private placements, credit tenant leases, project finance, emerging market corporate and multiple credit offerings, the statement explained.
“This team literally invented a business and we are excited to have them at G2,” Todd Morley, G2’s founder and chairman, said Thursday. “While at Lehman they simply dominated the market with a market share that was a multiple of the nearest competitor.”
The new additions supplement an already implemented group of former Lehman executives who have worked at G2 since its inception, the release said.
“We expect them to have an immediate impact on our trading franchise,” Morley stated.
Also joining the Lehman duo is Larry Taylor, a former 15-year specialist from DLJ and Credit Suisse. He will assist the team as it provides coverage to “every large investor in private placements,” the release said.
Currently, the independent investment management firm provides advisement and private capital raising for its clients in the U.S. and Hong Kong, its Web site said.