Angelo Gordon, an alternative investment firm focused on credit and real estate investing, bolstered its structured credit team with the addition of two senior executives.
Nicholas Smith, former head of non-agency residential mortgage trading and asset-backed securities trading at Bank of America Securities, joined Angelo Gordon as managing director to lead the firm’s whole loan business and expand the team’s capabilities across multiple asset classes. Rodney Hutter, former managing director and head of originations in the structured lending group at Waterfall Asset Management, joined the firm as managing director responsible for private credit origination. Smith and Hutter will report to T.J. Durkin, co-head of structured credit for Angelo Gordon.
“We are pleased to welcome Nick and Rod to Angelo Gordon,” Durkin said. “Nick’s deep expertise in the residential mortgage ecosystem of origination, trading, underwriting and lending, coupled with Rod’s 25 years of experience originating, structuring and managing private specialty finance investments will be invaluable to our team as we continue to grow our residential and consumer debt business and related capabilities. We look forward to leveraging their collective skill sets and relationships across the asset class as we seek to capitalize on what we believe to be a strong pipeline of opportunities ahead.”
“Since establishing its structured credit business over 15 years ago, Angelo Gordon has built an all-weather platform well-recognized for its proven, research-driven approach and substantial investment activity across collateral types,” Smith said. “I am excited to work closely with T.J. and the entire team to source and execute on unique investment opportunities that meet the needs of our investors.”
“I am excited to help Angelo Gordon build upon their deep roots in structured credit by bringing to bear my experience in this complex asset class at a time when there is a need for unique private asset-based financing solutions,” Hutter said.
The addition of Smith and Hutter to Angelo Gordon’s structured credit team follows the firm’s December 2020 hiring of Robert Kennelley as managing director and head of business development for the firm’s structured credit investment strategies. Kennelley has alternative credit investment, asset allocation and portfolio implementation experience. Previously, he was a senior member of the credit and event-driven investment team within the alternative investments and manager selection group at Goldman Sachs.
“We believe the expansion of top talent in our structured credit team is a testament to our commitment to continue seeking to generate strong risk-adjusted returns for our clients across the asset class. The additions of Nick, Rod and Robert build on an already best-in-class structured credit platform that is positioned to serve the markets and our investors with opportunities across the entire liquidity spectrum,” Josh Baumgarten, co-CEO, co-CIO and head of Angelo Gordon’s credit business, said.
