Spectrum Group Management LLC, which focuses on investing in the distressed, special situations and secured lending credit markets, has hired Russell Diamond as a managing director. Previously, Diamond worked at Gates Capital Management where he was responsible for marketing and business development efforts.
NEW YORK, Feb. 26, 2015 /PRNewswire/ — Spectrum Group Management LLC, an opportunistic investor in the distressed, special situations and secured lending credit markets, announced the appointment of Russell Diamond as a Managing Director. Mr. Diamond will oversee all marketing and business development for Spectrum.
“We are pleased to add a business development leader with Russell’s breadth of experience to our team,” Spectrum’s founder and Managing Partner, Jeffrey A. Schaffer said. “He brings specific knowledge of credit markets and understands our investment strategy. Russell also brings a successful track record with investors and firm-building that complements Spectrum’s development plans.
Mr. Diamond joins Spectrum from Gates Capital Management, where he was responsible for all marketing and business development efforts. During his tenure, the firm grew from $500 million to $3 billion in assets. Previously Mr. Diamond spent eight years as a Managing Director at West Side Advisors, which grew from $50 million in assets under management to $750 million while Mr. Diamond was there. He began his career at Prudential Securities and later GEM Capital Management, a convertible/high yield asset management firm. Mr. Diamond also has extensive experience as a venture capital investor and entrepreneur. He is a graduate of Cornell University and Columbia Business School.
About Spectrum Group Management
Founded in 1999, Spectrum Group Management is an alternative asset management firm that focuses on event-driven investing in the distressed, high-yield, special situations, and asset-based credit markets. Spectrum assumes an active role in investments both for the purpose of controlling risk and impacting outcomes. The firm has developed an extensive network for sourcing proprietary investment opportunities in core industry groups. Spectrum’s investment portfolios span the breadth of its opportunity set, targeting both lower return/volatility and longer-dated/higher-return outcomes.