Guggenheim Partners LLC, the debt manager with more than $180 billion in assets, hired Goldman Sachs Group Inc.’s co-head of U.S. leveraged finance capital markets Tom Stein.
Stein, who will start in September, will report to Michael Damaso and Anthony Minella, co-heads of corporate credit, according to Thomas Mulligan, a spokesman for Guggenheim at Sitrick and Co. Stein will will focus on the firm’s capital market business.
Michael DuVally, a Goldman Sachs spokesman, and Stein declined to comment.
Stein, who co-headed the leveraged finance unit at Goldman Sachs with Kevin Sterling and David Lischer, joined the firm in 2005 from Wachovia Corp. Stein previously served on the board of directors of the New York-based trade group, the Loan Syndications and Trading Association.
There have been $531.6 billion of leveraged loans arranged in the U.S. this year, an increase from $285 billion during the same time period in 2012, according to data compiled by Bloomberg.
Leveraged loans and high-yield bonds are rated below BBB-by Standard & Poor’s and less than Baa3 at Moody’s Investors Service.