Angelo, Gordon & Co, a USD43 billion alternative investment firm focused on credit and real estate investing, has added two senior executives to its structured credit team.
Nicholas Smith, former Head of Non-Agency Residential Mortgage Trading and Asset-Backed Securities Trading at Bank of America Securities, has joined the Firm as Managing Director to lead the Firm’s whole loan business and expand the team’s capability across multiple asset classes. Rodney Hutter, former Managing Director and Head of Originations in the Structured Lending Group at Waterfall Asset Management, has joined the Firm as Managing Director responsible for private credit origination. Based in New York, Smith and Hutter report to TJ Durkin, Angelo Gordon’s co-Head of Structured Credit.
“We are pleased to welcome Nick and Rod to Angelo Gordon,” says Durkin. “Nick’s deep expertise in the residential mortgage ecosystem of origination, trading, underwriting and lending, coupled with Rod’s 25 years of experience originating, structuring and managing private specialty finance investments will be invaluable to our team as we continue to grow our residential and consumer debt business and related capabilities. We look forward to leveraging their collective skillsets and relationships across the asset class as we seek to capitalise on what we believe to be a strong pipeline of opportunities ahead.”
Smith says: “Since establishing its structured credit business over 15 years ago, Angelo Gordon has built an all-weather platform well-recognised for its proven, research-driven approach and substantial investment activity across collateral types. I am excited to work closely with TJ and the entire team to source and execute on unique investment opportunities that meet the needs of our investors.”
Hutter says: “I am excited to help Angelo Gordon build upon their deep roots in structured credit by bringing to bear my experience in this complex asset class at a time when there is a need for unique private asset-based financing solutions.”
The addition of Smith and Hutter to Angelo Gordon’s structured credit team follows the Firm’s December 2020 hiring of Robert Kennelley as Managing Director and the head of business development for Angelo Gordon’s structured credit investment strategies. Kennelley brings alternative credit investment, asset allocation and portfolio implementation experience to Angelo Gordon. Previously, he was a senior member of the Credit & Event Driven investment team within the Alternative Investments & Manager Selection Group at Goldman Sachs.
Josh Baumgarten, co-CEO, co-CIO and Head of the Firm’s Credit business, says: “We believe the expansion of top talent in our structured credit team is a testament to our commitment to continue seeking to generate strong risk-adjusted returns for our clients across the asset class. The additions of Nick, Rod and Robert build on an already best-in-class structured credit platform that is positioned to serve the markets and our investors with opportunities across the entire liquidity spectrum.”
