Old Hill Partners, an $800 million fixed-income hedge fund firm, has hired Hahn Kang and Gary Effman as portfolio managers. Kang and Effman joined the firm earlier this month to fill the new positions, which were created as the Darien, Conn.-based hedge fund seeks to expand into new areas, an Old Hill spokeswoman said. She declined further comment.
Prior to joining Old Hill, Kang was a fund manager at Metropolitan West Asset Management, a Los Angeles-based fixed-income firm. At Metropolitan West, he managed absolute return strategies, corporate bonds, and structured products. Effman joined Old Hill from asset manager Harbert Management Company, where he was director of asset-backed securities trading for a multi-asset fixed income hedge fund. Kang and Effman were not available for comment. Calls to a spokesman for Metropolitan West were not returned. A spokeswoman for Harbert confirmed Effman's departure, but declined further comment.