New York City-based GSC Partners is planning to launch a new fund aimed at high yield debt and mezzanine debt backed by U.S. commercial real estate. At press time, GSC Partners had not named the fund, but it did recruit Alexander Zabik as senior managing director and head of high-yield real estate to oversee it. Zabik was a senior member of the Real Estate Debt Group at BlackRock, Inc., and a member of the investment committee and investment strategy group. He was also head of originations for high yield commercial real estate debt products, and was an officer of Anthracite Capital, a public CMBS REIT and CDO issuer.
Deutsche Bank has hired Alex Bernand as global head of credit correlation trading in London. The new hire will be reporting to Head of Credit Trading for North America and Europe Boaz Weinstein and Head of Complex Risk Wayne Felson. Bernard, who was formerly at Bank of America where he built up the firm's global structured credit business from scratch in the past six years, has replaced Mark Stainton who left Deutsche Bank at the end of last year.