Hedge Funds

Sandell taps Goldman high-yield and distressed specialist

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Tom Sandell's Sandell Asset Management has lured to the firm Ken Glassman, portfolio manager and co-head of Goldman's 18-member high-yield and distressed investment group.

At Sandell, Glassman holds the title of senior managing director and portfolio manager of the firm's credit opportunities group. In this position, he'll oversee credit investments for the Castlerigg Fund, the firm's flagship multistrategy vehicle.

The hire is a huge coup for Sandell and comes at an important time: Over the last several months, three other senior credit specialists have left the firm. The most high profile was Sandell president Jim Cacioppo, who will be