Bloomberg News

Aladdin’s John D’Angelo Joins Valcour Capital to Run Loan Group

October 04, 2011

Oct. 4 (Bloomberg) -- John D’Angelo, a senior money manager in the loan group at Aladdin Capital Holdings LLC, has left to join Valcour Capital Management LLC.

D’Angelo will manage the bank debt group for the firm, said George Marshman, co-founder of Stamford, Connecticut-based Valcour.

“We have been waiting for a good opportunity to start up that business line at the new firm and were really happy when John became available,” Marshman said yesterday in a telephone interview. “We believe he is one of the best guys out there in the sector.”

Valcour was set up by Marshman, a founder of Aladdin, and Joseph Schlim, its former chief financial officer, in 2009. The firm, which has about $125 million in assets, had been primarily focused on managing the Valcour Opportunity Fund, a hedge fund invested in residential mortgage backed securities, Marshman said.

The leveraged-loan group will raise debt funds and possibly collateralized loan obligations as well, he said. The firm may also make some additional hires for the unit by the end of the year.

CLOs are a type of collateralized debt obligation that pool high-yield, high-risk loans and slice them into securities of varying risk and return. Leveraged loans are those rated below BBB- by Standard & Poor’s and less than Baa3 at Moody’s Investors Service.

D’Angelo, 43, joined Stamford-based Aladdin in 2004. Before that he worked at Harbinger Capital Partners.

Scott MacDonald, senior managing director and head of credit and economics research, at Aladdin confirmed D’Angelo’s departure. “He decided he wanted to do something different and his presence will be missed here,” MacDonald said in a telephone interview. “We were sad to see him go.”

Bill Lutkins and Angela Bozorgmir are expected to now jointly run the loan group at Aladdin, MacDonald said.

--Editors: Faris Khan, Chapin Wright

To contact the reporter on this story: Kristen Haunss in New York at khaunss@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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