It was reported back in November that Daniel Posner was leaving Shaw to launch a new fund, but details were scarce and most expected it to be a standalone firm.
40-year-old Posner will be president and CIO of the fund, which is a totally new business Golub, a firm with $4.5 billion AUM, that has never ventured into the hedge funds universe before now.
The fund is yet to be named.
“Daniel has one of the best reputations in the credit hedge fund industry and given the opportunity set in the current economic environment, we are very excited about partnering with him to establish these new strategies.”
Posner will be looking for “short- and long-term credit investments, as well as opportunities that result from market events,” according to Dealbook.
The FT describes him as “well-known in industry circles as an astute distressed debt investor.” Under his guidance, the distressed securities unit at D.E Shaw was one of the firm’s “most successful and largest investment units.”
He joined the hedge fund in 2002, and founded the credit opportunities unit.
He began his career at Goldman Sachs and has an MBA from the University of Chicago.
Prior to that role he was a senior VP at Intermarket Corporation, a hedge fund focused on distressed companies, an associate in UBS Warburg Dillon Read’s distressed debt and special situations group, a consultant at Deloitte.
What else do we know about Posner?
And his investment manta? “Wall Street in not a sprint; it is a marathon.”