Intermediate Capital Group appoints portfolio manager

Booming appetite among investors for exposure to credit instruments is fuelling growth at Intermediate Capital Group, one of the largest CDO fund managers. It recruiting to cope with demand.

Intermediate Capital Group, an independent European sub-investment grade investor, has hired Garland Hansmann as portfolio manager for its fund management subsidiary Intermediate Capital Management.

Hansmann joins from Credit Suisse Asset Management in London, where he was a portfolio manager for corporate bonds and since 2003, also European Head of credit research.

Sara Halbard, a director of Intermediate Capital Management, said: “Our fund management business is experiencing a high level of investor demand and consequently we are growing rapidly.”

Its CDO business now has €4.5 billion under management across 12 different funds including CDOs and private client mandates.

The boom in CDO funds has driven the buyout mark by making credit ever more readilly available.