Patriarch Partners, a New York-based distressed bond investment management boutique, is strengthening its structured finance effort and has hired three collateralized loan obligation analysts for this purpose. All new hires take newly created slots, according to Lynn Tilton, principal.
The new hires are Adam Tashman, a collateralized debt obligation analyst at Merrill Lynch, who was laid off in December (BW, 12/17) and Richard Kuonqui, an official in Lehman Brothers' structured finance group, and will also work as a CLO analyst. Tilton says a third analyst has been recruited and will join later this month, but declined to name the new hire.
Tashman says the distressed boutique is planning to do more business in the structured finance area, which is why the new jobs have been created. Patriarch Partners is the collateral manager for two CLOs, Ark 2000-1 and Ark 2001-1.
At Lehman, Kuonqui worked in structuring asset-backed securities transactions under the supervision of Khalil Kanaan, v.p. Kanaan declined to indicate whether the firm intended to replace Kuonqui. Kuonqui was unavailable for comment.