FrontPoint Partners' credit team is up and running, with assets in excess of $100 million already put to work and an additional four professionals on board. Jose Almonte, Chris Taggert, Sam Grier and Stanley Bastien all recently joined FrontPoint from the Clinton Group. The moves bring to six the number of professionals from Clinton Group who have recently left for FrontPoint. Previously, Robert Smalley, director of credit research, and Robert Wenzel, credit arbitrage portfolio manager at Clinton Group, joined FrontPoint this fall to head the manager's new credit team (BW, 10/25).
Paul Ghaffari, chief operating officer at FrontPoint, said it plans to grow its credit book prudently and has the long-term target of managing several hundred million dollars in assets. Edward Rowley, spokesman, and Gary Rugendorf, who is now responsible for credit research and analysis at Clinton, did not return calls by press time.