Mariner Investment Group Adds Event Credit Team To Mariner Incubation Program

NEW YORK, Sept. 12, 2014 /PRNewswire/ -- Mariner Investment Group, the global alternative asset manager, today announced that it has named Tal Gurion, formerly portfolio manager for credit at Allen Global Partners, to run an event credit portfolio as part of the Mariner Incubation Program, a multi-strategy mandate Mariner launched in April 2013 to be managed by leading investment talent sourced from the hedge fund industry.  This is the sixth addition to the investment team that is managing the current Incubation Program mandate.

The Mariner team will employ a global event credit strategy that capitalizes on Mr. Gurion's experience in structuring, analyzing and managing credit portfolios.  The strategy will identify and seek to exploit pricing dislocations in credit-related instruments of companies experiencing a degree of financial stress or distress, often where a pending discrete catalyst or specific event may affect the value of the company and its credit securities.  The Mariner team looks to produce strong risk-adjusted absolute returns by leveraging the investment team's private equity and corporate finance experience and by employing a fundamental value-oriented and research-intensive investment approach.

"Tal has distinguished himself by his ability to implement and manage credit strategies and generate differentiated, value-added returns for large credit portfolios and brings a proven European investment record, in particular," said Bracebridge Young, Mariner's Chief Executive Officer.  "With a focus on event credit opportunities as well as select middle market distressed and European credit situations, we believe that Tal's approach to the credit markets provides an effective way to achieve attractive risk-adjusted returns while mitigating overall high yield spread and interest rate correlation.  Tal and his team will be an excellent complement to Mariner's long and successful track record in credit, and we welcome them to the Mariner Incubation Program."

"The Mariner Incubation Program offers us the possibility to combine our experience in credit investing with Mariner's extensive institutional relationships and world-class operational infrastructure to build a scalable business," said Mr. Gurion.  "While general debt default rates have fallen dramatically since the economic crisis, given the persistent slow growth environment in the US and Europe, overall corporate leverage remains high, providing numerous opportunities for event-oriented credit strategies as firms address their liabilities.  In addition, we believe that an environment of reduced bank capital commitments to fixed income markets presents new opportunities to generate differentiated returns."

Mr. Gurion brings nearly 15 years of experience in trading credit securities.  Prior to joining Allen Global Partners in 2009, Mr. Gurion was portfolio manager at JD Capital Management from 2007-2008 where he launched the firm's credit strategy.  From 2001-2006, Mr. Gurion was assistant portfolio manager at EOS Partners where he co-founded and launched EOS Credit Opportunities L.P.  From 1999-2001 Mr. Gurion was a member of EOS Partners' private equity group.  Mr. Gurion began his career as an investment banker at Goldman, Sachs & Co. in 1996.  Mr. Gurion is a graduate of Harvard Law School and received his Bachelor of Arts from Duke University.

The Mariner Incubation Program allocates capital to industry-leading and established talent in areas that the firm considers investment opportunities primarily in the rate, equity and credit markets.  Mariner provides the portfolio managers with robust infrastructure support as well as the potential to create future stand-alone advisory relationships including hedge funds.  Managers on the platform oversee portfolios with initial investments ranging from $50 million to $100 million.

About Mariner Investment Group, LLC

Mariner Investment Group, LLC is an SEC registered investment adviser and manages approximately $11.3 billion of assets together with its associated advisers consisting of several direct and affiliated single and multi-strategy hedge funds, funds of funds and other alternative investments services.  Founded in 1992, Mariner and its associated advisers employ approximately 215 people in New York, Boston, London, Tokyo, Seoul, Philadelphia, Harrison (NY) and Rowayton (CT).

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SOURCE Mariner Investment Group