Black Diamond Capital Management has hired former GSC Group executive Philip Raygorodetsky as a managing director. Philip
Raygorodetsky will be responsible for overseeing companies acquired from the firm’s distressed investment funds.
Black Diamond is currently raising BDCM Opportunity Fund III, which held a first close on $206 million in January. Earlier this year, the Oregon Public Employees’ Retirement System committed $100 million to the fund.
Black Diamond’s second distressed fund closed on $982 million in 2007, surpassing its original target of $750 million. Established in 1995, Black Diamond focuses on investing in senior secured securities, and has over $5 billion in assets under management.