Jeff Aronson, the portfolio manager responsible for all of Angelo, Gordon & Co.'s distressed securities and leveraged loan efforts, has left the firm. He is reportedly leaving to start his own fund, according to market sources. There was some chatter among loan investors that Aronson left Angelo Gordon with a non-compete agreement that prevents him from raising capital or starting his own business for eight months, but that could not be confirmed. John Angelo and Michael Gordon did not return calls, and Aronson could not be reached.
Aronson headed Angelo Gordon's $2.5 billion distressed business. He was also portfolio manager of the firm's four leveraged loan funds. The New York firm may have lost one of the market's most experienced pros, but the famed vulture investor still has a deep bench of talent. John Fraser is the leveraged loan portfolio manager, Tom Fuller is responsible for the firm's distressed securities andJed Hart is chief portfolio manager.
A lawyer by training, prior to joining Angelo Gordon in 1989, Aronson worked as a senior corporate counsel at L. F. Rothschild & Co., the fund's predecessor.
