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.