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Hotchkis and Wiley announces new portfolio manager Raymond Kennedy
By Devika Patel
Knoxville, Tenn., Feb. 13 - Hotchkis and Wiley Capital Management announced that Raymond G. Kennedy has joined the firm as a portfolio manager, leading the new high-yield bond business.
The firm expects to launch high-yield bond separate account and retail mutual fund strategies sometime in the first quarter.
Kennedy has more than 20 years of money management experience within the high-yield and corporate debt market.
He was managing director, portfolio manager and senior member of Pimco's investment strategy group where he headed the global high-yield business. He was responsible for the firm's high-yield, bank loan and collateralized loan obligations management business, which encompassed more than $50 billion in total firm assets.
Kennedy was also associated with the Prudential Insurance Co. of America as a private placement asset manager where he was responsible for investing and managing a portfolio of investment-grade and high-yield privately placed fixed income securities.
He earned a bachelor's from Stanford University and master's in business administration from the Anderson Graduate School of Management at the University of California, Los Angeles.
"We're delighted to have Ray Kennedy join us to lead this effort," Hotchkis and Wiley's chief executive officer, George Davis, said in a press release. "Investing in high-yield bond securities is a natural extension of value equity investing because in both cases, one is seeking mispriced investments and is often drawn to misunderstood or beaten-down securities."
Hotchkis and Wiley is an investment management firm in Los Angeles.
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