Sound Point Capital Management, LP, a credit-oriented investment manager overseeing approximately $32 billion in total assets, is pleased to announce it has hired Gunther Stein to become Head and Chief Investment Officer (CIO) of its U.S. Performing Credit and CLO platform. The move follows Sound Point’s recently announced agreement to acquire Assured Investment Management LLC (“Assured-IM”), the institutional asset management business of Assured Guaranty Ltd. (NYSE:AGO), formerly known as BlueMountain Capital Management, LLC. This acquisition will boost Sound Point’s assets under management to approximately $47 billion.
Mr. Stein is a longtime investor and veteran portfolio manager who previously served as Chairman, CEO and CIO of Symphony Asset Management, a San Francisco-based alternative asset manager that invested across the capital structure, primarily in credit. Symphony Asset Management was bought in 2001 by Nuveen Investments, Inc., which itself was acquired in 2014 by TIAA (Teachers Insurance and Annuity Association of America).
“The addition of Gunther as Head and CIO of our U.S. performing credit platform is a major win for our franchise,” said Stephen Ketchum, Sound Point’s Managing Partner and CEO. “His credibility is widely established in the markets where our firm is most active, and his track record of leadership is stellar. We look forward to his integration and adding his deep investment acumen to our existing brain trust.”
Mr. Stein will be joining Sound Point in June and his …
