Hedge Funds People moves

Brownstone partner Doug Lowey leaves to run brokerage firm

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The $600 million New York credit shop has restructured its investment committee following the amicable departure of co-founder Lowey.

Doug Lowey, a co-founder of $600 million credit shop Brownstone Asset Management, is leaving his role of co-portfolio manager at the firm he helped build in order to focus on his long-running brokerage firm.

Lowey will remain at Brownstone while the firm transitions to a new management structure, and his partnership stake in the firm will decrease over time. Brownstone has formed a new investment committee headed by co-founder Oren Cohen as head portfolio manager, Curt Schade as portfolio manager, and recent hire Ed Galanek as portfolio manager and trader. Galanek recently joined from hedge fund Tricadia Capital