Posner Exits DE Shaw to Start Hedge Fund at Golub Capital

Daniel Posner, the former head of hedge fund DE Shaw's distressed investment unit, has joined Golub Capital, a New York-based credit specialist. According to the Financial Times, he will launch a new hedge fund business at Golub.

The name of the new hedge fund has not been revealed to the press.

Famous as a savvy distressed debt investor, the 40-year-old Posner was a founder of DE Shaw's multi-billion credit and distressed debt operation. He departed the secretive $21 billion asset manager last week and his exit sparked rumors that he might be starting a hedge fund.

The FT reports that since 2009, Posner ran DE Shaw's Portfolio Acquisitions Unit, which sought out distressed holdings from competing hedge funds and vulnerable asset managers.

With Posner, Golub will launch a long/short credit fund in the second half of this year.

Golub Capital has an estimated $4.5 billion is assets under management and focuses on distressed debt investing and lending to small and medium-sized companies.

CORRECTION: In our original report, we mentioned media reports that said Posner left DE Shaw "late last year." A person who claims to work with the fund called Advanced Trading on background and says that Posner left the hedge fund last week. Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio