GSO builds out its distressed debt team with two key hires – exclusive

The firm hired Robert Carroll as a managing director and head of distressed trading, and Adam Maitin as a vice-president on the trading desk.

GSO Capital Partners has hired two distressed debt professionals as the firm looks to increase its focus in that area.

The New York-based credit manager has brought on Robert Carroll as a managing director and head of distressed trading, the firm said in a statement. GSO also hired Adam Maitin as a vice-president on the trading desk, according to the release.

Carroll will oversee the distressed debt trading activities across all of GSO’s distressed vehicles, according to a source familiar with the situation.

GSO, which declined to give additional comment, used to operate its distressed strategies through open-ended vehicles, mainly through its GSO Special Situations Fund. In 2017, the firm shuttered that hedge fund, moving the capital into closed-end vehicles. It most recently raised more than $7 billion for its distressed strategy through its GSO Capital Solutions Fund III.

Carroll was most recently a partner and the head trader at Smith Cove Capital Management, a Greenwich, Connecticut-based hedge fund, since 2016. Prior to that, he was the head of trading at Perry Capital for 10 years, where he helped the hedge fund reach a peak of $15 billion in trading capital, the source added.

“We are excited to welcome Robert Carroll and are confident his trading expertise and knowledge of the credit market will add great value to GSO,” Dwight Scott, the president of GSO, said in the press release. “We look forward to his engagement as we continue to grow our business and focus on distressed debt opportunities.”

Maitin, the vice-president hire, joins GSO from BlueMountain Capital where he traded high-yield, distressed and investment-grade debt for the last two years. Prior to that, he was an associate at AllianceBernstein, where he worked in high-yield trading.

GSO has more than $128 billion in assets under management and is the credit-focused branch of Blackstone, a global asset management firm that oversees $472 billion.