Stanfied Capital, a hedge fund that invests in distressed debt and collateralized debt obligations, has hired an internal risk manager from RiskMetrics Group to monitor its investments. Gordon Yeager starts this month at Stanfield as a managing director and head of risk management, a new position, according to Christie Kinney, a spokeswoman for the firm. Yeager reports to Dan Baldwin, managing director and cio. The hedge fund created the new role because its assets, which now stand at roughly $9 billion, have grown by about $1 billion over the last year and the firm felt it needed to have a dedicated risk manager, according to Kinney.
At RiskMetrics, Yeager created risk parameters for hedge funds. John Roderick, a spokesman for RiskMetrics, said the company wished Yeager well and that Gregg Berman, head of institutional business, had headed the firm's hedging platforms and will continue to do so.