Tim Tarpening, Executive Vice President and Senior Portfolio Strategist, said the Grandview team brings to PIA an audited 10-year high yield track record with consistent top quartile performance, according to a news release. The new PIA High Yield team will assist in the management of PIA Core Enhanced portfolios and be responsible for managing high yield separate accounts.
PIA said it expects to launch a High Yield mutual fund in 3Q10. Tarpening noted that the acquisition resulted from a multi-year search by PIA to obtain high-yield capabilities, rather than assets.
Grandview Capital Management, LLC will continue to exist solely as the adviser to its existing Waterfront CLO through maturity.
According to the announcement, the three senior portfolio managers of the newly-acquired team include:
- Robert Sydow, who has 22 years of high yield investment management experience, heads the PIA’s High Yield Dept. Before founding Grandview, Bob was a SVP and co-portfolio manager for SunAmerica Investments’ High Yield Bond Department. Previously, he served as Treasurer, Asset/Liability Manager, and High Yield Portfolio Manager at First Interstate Bancorp.
- Kevin Buckle, CFA, has over 19 years of investment management experience. Prior to joining Grandview Capital in 2002 as a Portfolio Manager, he was Managing Director at Willow Brook Capital, a private equity boutique, and before that was a SVP and Portfolio Manager of SunAmerica Investments, where he co-managed high yield bond, leveraged loan, and structured product portfolios.
- James Lisko has 16 years of experience managing high yield and distressed debt. Previously, he was a Senior Analyst and Portfolio Manager at JPBT Advisors and a Senior Analyst at both Western Asset Management and SunAmerica Investments, and Director of Research at Papillon Partners.
More about Pacific Income Advisors is at http://www.pacificincome.com.