Debt fund manager Angelo, Gordon has hired Steven Paget as a portfolio manager for its European performing credit business.
Paget joins the firm from PGIM Fixed Income, where he was a portfolio manager on its European leveraged finance team, which manages high-yield bonds and bank loans across European and global mandates. At PGIM he was specifically responsible for its European Dryden CLO platform.
At Angelo, Gordon, Paget will lead the build out of its European performing credit activities, with a focus on developing its European CLO platform and investing in debt and equity tranches of third party CLO managers.
Paget will report to Dan Pound, head of Europe, and Maureen D’Alleva, head of non-investment grade corporate credit.
Commenting on the appointment, Pound and D’Alleva released a statement, which said: “Steve is a seasoned structured credit executive, whose deep understanding of the high yield bond and leveraged loan markets, and significant experience structuring, managing and executing European CLO transactions, will add tremendous value to Angelo, Gordon as we seek to scale and strengthen our European performing credit business for our global clientele.”
Angelo, Gordon said development of European performing credit is its next step to grow and diversify its credit platform.