Ramius Creates Credit Trading Group
September 30, 2008
New York-based Ramius, a privately owned global alternative investment firm with approximately $11 billion in assets under management, has hired a chief of distressed investments and two other professionals to head up a new credit trading group.
Kenneth Grossman has been named managing director of distressed investments, joining the firm from Del Mar Asset Management, where he was a partner and portfolio manager.
Separately, Norman Milner and Rick Dowdle, both formerly of Arx Investment Management, join Ramius as co-portfolio managers of the firm’s newly formed credit trading business. At Arx, Milner served as partner, portfolio manager and head of trading, while Dowdle served as partner and portfolio manager.
“Their appointments will enable us to further take advantage of market opportunities and dislocations in the credit arena by building on to our existing capabilities in those areas,” Jeffrey Solomon, one of the founders and a managing member of Ramius, said in a release.
Ramius employs a series of strategies, with a focus on investments that offer low correlation to each other and to the return patterns of traditional assets such as equities and fixed income. The firm offers global macro trading, PIPES, options trading, merger arbitrage, distressed ABS, Asia invent-driven investments and risk management.
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