Hudson Bay Capital Management has hired a team of former BlackRock executives to build a new private credit strategy at the $20bn investment firm, according to a report by Bloomberg citing people familiar with the matter.
The hires, who specialise in middle-market lending, joined Hudson Bay over recent months and include Raj Vig, Jon Hugo, Jeffrey Gordon, and Tim Morris. The private credit team reportedly now comprises around 10 professionals.
The group largely comes from BlackRock’s legacy private credit platform, including its former Tennenbaum Capital Partners business, which BlackRock acquired in 2018. The firm has been reshaping its private credit operations as it continues to integrate its acquisition of HPS Investment Partners.
