Golub Capital hired Daniel Posner to develop and lead new credit strategies later this year.
The new hire will oversee a new line of business for Golub Capital that will invest in long/short credit opportunities.
A focus of Posner's will be opportunistic and distressed credit assets, specifacally event-driven investment opportunities in the U.S. and Europe. Posner will be the new business' president and chief investment officer. The new unit will be based in New York and operate under its own brand name.
Posner joined Golub from D.E. Shaw, where he was a founder of the company's multi-billion credit opportunities investing business. He joined D. E. Shaw in 2002 and was a managing director and the global head of its distressed and credit markets investing unit and portfolio acquisition unit. He headed up a large team of investment professionals in the U.S., Europe and Asia that focused on opportunistic credit opportunities and distressed secondary trading investments.
"Daniel has one of the best reputations in the credit hedge fund industry, and given the opportunity set in the current economic environment, we are very excited about partnering with him to establish these new strategies," Golub Capital Vice Chairman David Golub said.
"Our investors have driven this initiative by asking Golub Capital to apply the firm's value and credit-driven culture to more liquid credit strategies," Golub Capital CEO Lawrence Golub said.
"Golub Capital, with its rich history in the credit space, provides an outstanding platform for our new endeavor," Posner said. " I am confident we can create synergistic long-short credit strategies that complement Golub's strengths in middle market lending and broadly syndicated loan management. I could not be more pleased to be joining the firm."
Before his nine-year stay at D.E. Shaw, Posner was a senior vice president for Intermarket Corp., a hedge fund focused on distressed and undervalued companies. He also had stint at UBS, Deloitte, and Goldman Sachs.