{"id":87763,"date":"2023-11-22T23:28:39","date_gmt":"2023-11-23T04:28:39","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/goldentree-partner-behind-firms-crypto-expansion-set-to-leave\/"},"modified":"2023-11-22T23:28:41","modified_gmt":"2023-11-23T04:28:41","slug":"goldentree-partner-behind-firms-crypto-expansion-set-to-leave","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87763","title":{"rendered":"GoldenTree Partner Behind Firm\u2019s Crypto Expansion Set to Leave"},"content":{"rendered":"<div>\n<figure id=\"attachment_135382\" aria-describedby=\"caption-attachment-135382\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-135382\" class=\"wp-caption-text\">Source: Pixabay<\/figcaption><\/figure>\n<p>Long-time partner Joseph Naggar, who was highly influential in GoldenTree Asset Management\u2019s expansion into crypto investments, is set to leave the company.<\/p>\n<p>The Block reported on Wednesday that Naggar\u2019s exit is set to leave GoldenTree\u2019s crypto unit in a period of uncertainty, with two anonymous sources quoted as being unsure as to whether the unit would still exist.<\/p>\n<p>GoldenTree notified investors about Naggar\u2019s forthcoming departure several weeks ago, as per one source. Both sources indicated that Naggar played a pivotal role in driving GoldenTree\u2019s foray into the crypto space, helping the company make investments in numerous crypto startups.<\/p>\n<p>GoldenTree is now exploring different options for the future of its crypto division, including the possibility of spinning it off, according to the same sources.<\/p>\n<p>Naggar\u2019s name is notably absent from a GoldenTree webpage that lists members of the Executive Committee, a position to which he was appointed back in 2011.<\/p>\n<p>GoldenTree is a prominent New York-based asset management company that manages a portfolio exceeding $51 billion in assets, according to its website. GoldenTree specializes in various credit opportunities, encompassing high yield bonds, leveraged loans, private credit, distressed debt, and more.<\/p>\n<p>Naggar became a part of GoldenTree in 2007, assuming the role of partner and head of structured products. Prior to joining GoldenTree, he spent a decade at Morgan Stanley, where he held the position of managing director in the bank\u2019s Global Principal Credit Group. <\/p>\n<p>GoldenTree made its first investment into the crypto space in 2021, and has currently participated in 26 deals, according to data from The Block Research. The company\u2019s crypto portfolio encompasses investments in various entities such as Ledn, Anchorage Digital, Stader Labs, Trust Machines, and Ondo Finance.<\/p>\n<p>In a March 2022 announcement, the firm announced that its partners had been individually involved in personal crypto investments for several years, and that the company saw \u201can attractive and increasing opportunity set that can be captured in GoldenTree\u2019s opportunistic strategies.\u201d<\/p>\n<p>Naggar said at the time that the digital asset ecosystem was becoming \u201cincreasingly relevant\u201d for institutional investors.<\/p>\n<p>\u201cHaving invested personally in the asset class for years, there is an increasingly well-developed infrastructure as well as a growing continuum of opportunities that lend itself to active management,\u201d Naggar said. \u201cI am confident GoldenTree\u2019s rigorous fundamental and relative value driven process, as well as our robust risk management infrastructure, will position the firm well to deliver differentiated returns in the asset class.\u201d<\/p>\n<p>\u00a0<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/goldentree-partner-behind-firms-crypto-expansion-set-to-leave-report.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Pixabay Long-time partner Joseph Naggar, who was highly influential in GoldenTree Asset Management\u2019s expansion into crypto investments, is set to leave the company. The Block reported on Wednesday that Naggar\u2019s exit is set to leave GoldenTree\u2019s crypto unit in a period of uncertainty, with two anonymous sources quoted as being unsure as to whether [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":87764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-87763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GoldenTree Partner Behind Firm\u2019s Crypto Expansion Set to Leave | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Pixabay Long-time partner Joseph Naggar, who was highly influential in GoldenTree Asset Management\u2019s expansion into crypto investments, is set to\" \/>\n<meta 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