Larry Schloss (Art by Chris Buzelli)Former New York City pension chief Larry Schloss has left his position as president of alternatives firm Angelo, Gordon & Co.
A person familiar with the matter confirmed to CIO that Schloss departed at the end of last week after more than two years at the firm.
“Larry’s responsibilities, which were management, marketing, and strategic planning in nature, are being assumed by other executives at the firm,” Co-Founder Michael Gordon wrote in a client letter. “We have no plans to appoint a new president.”
Gordon added that Schloss’ exit will not affect Angelo, Gordon’s “investment process or the way we run the firm.” The co-founder will continue to lead the $25 billion firm focused on credit, real estate, and private equity as CEO and CIO.
Schloss left the New York City Retirement Systems in October 2013 to join Angelo, Gordon as an “important addition to the firm’s executive and investment talent,” the manager said in a statement upon Schloss’ hiring.
The former deputy comptroller for asset management also served as a member of the firm’s executive committee and a partner in the employee-owned firm.
Prior to his four-year tenure as New York City’s CIO, Schloss co-founded and led private equity firm Diamond Castle Holdings and served as global head of private equity at Credit Suisse.