Hedge fund manager Halcyon Asset Management has appointed Ross Smead to head a new CLO business. Smead will seek to expand Halcyon's initiatives in the CLO market, constructing and managing multiple CLO vehicles.
Smead previously worked as a managing director and portfolio manager at Prudential Investment Management, where he was employed for 21 years. As head of Prudential's bank loan business, Smead was responsible for over $3.5 billion of assets under management, mostly in CLOs.
Meanwhile, Halcyon also announced that it has hired Aaron Goldberg as CFO. He replaces Jim Pasquarelli, who will continue to work at the firm as a senior consultant. Goldberg previously worked as a senior finance officer at hedge fund managers BlueMountain Capital Management, AQR Capital Management and Reservoir Capital Group.
Indeed, Smead's arrival at Halcyon follows the firm's prior hiring of Steven Mandis, managing principal and chief investment officer, from Goldman Sachs in October 2004. Mandis later recruited three specialists in distressed asset-backed securities, and last month, Halcyon hired Raj Kumar from Zais Group to create and manage CDO-squares, ABS CDOs and other securitized products.