Tudor Investment Corp. has hired a team of former Bear Stearns credit specialists to develop a new asset management business focused on credit-related strategies.
Gregory Hanley and Alan Mintz, both former senior managing directors and co-heads of Bear Stearns distressed-debt group, will head up the new effort. At Bear, Hanley was also co-head of the high-yield trading group.
The pair bring with them three senior members of their Bear Stearns team: Mitchell Sussman, Eric Friel and Howard Norowitz.
Initially, the new team will operate within Tudor. As the strategies mature, the group is expected to spin out as an independent investment