A New York fixed-income manager is looking to hire a researcher to meet its expectations for growth in the distressed world--and its portfolio--as a result of the recent surge in low-quality high-yield sales.
Kellner DiLeo Cohen & Co. seeks a professional with experience in the distressed market for a generalist position, said Kate Kutasi. She joined the distressed investor this month as a manager in distressed and high-income and formerly was head of high-yield, distressed and private securities at Alliance Capital Management. Kutasi left Alliance a year ago (BW, 1/12/04) and took a year off.
The credit manager runs $530 million in distressed/high-income, special situations merger arbitrage and convertible arbitrage investments and is currently growing its distressed portfolio, said Kutasi. She added the firm is currently focusing on distressed because she expects the market to turn and to soon provide distressed supply.