Phoenix Investment Adviser Adds to Investment Team Peter Hughes is Appointed as Senior Research Analyst

NEW YORK, Oct. 23, 2012 /PRNewswire/ -- Phoenix Investment Adviser, a private investment firm that specializes in high-yield corporate debt, today announced Peter Hughes has been hired as a Senior Research Analyst. As a part of the investment team, he will cover the technology, business services, retail, restaurant, and metals and mining sectors. Mr. Hughes is the most recent of several senior hires appointed in response to increasing interest from institutional allocators – including a recent $40 million seed investment into Phoenix's Institutional Credit Opportunity Fund. Mr. Hughes will report to Phoenix's founder and CIO, Jeffrey Peskind.

Founded nearly a decade ago, Phoenix focuses on bonds of highly leveraged US companies and manages more than $500 million. In the past year, the firm has raised about $200 million.

Prior to joining Phoenix, Mr. Hughes was a Director at Citi Capital Advisors, where he focused on identifying long and short investment opportunities in high yield and investment grade cash bonds, credit default swaps, and leveraged loans across various sectors, including technology, telecom, homebuilding, and transportation. He previously worked at Credit Suisse, where he recommended risk management strategies for the company's internal bank loan portfolio and actively invested in the group's proprietary CDS trading book. Mr. Hughes is a CFA charterholder and holds a Master of Science degree and Bachelor of Business Administration degree from the University of Wisconsin-Madison.

"As Phoenix continues to pursue investment opportunities across all sectors, it is critical we fortify our research capabilities. Peter's comprehensive knowledge of the US debt markets will complement and strengthen our investment team," said Mr. Peskind.

About Phoenix Investment Adviser
Phoenix Investment Adviser, LLC is an SEC-registered investment advisor focusing on inefficiencies across the capital structures of highly leveraged US companies. The firm was founded by Jeffrey L. Peskind in May 2003 and launched its first investment program in September 2003. After working for more than 15 years in the high yield and credit markets, Mr. Peskind believed an investment vehicle focused strictly on "stressed" companies offered an excellent risk/reward opportunity. Headquartered in New York, Phoenix has over $500 million in assets under management.

SOURCE Phoenix Investment Adviser



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