(Bloomberg) -- John E. Kim, the former chief executive officer of Panagram Structured Asset Management, is launching a new credit manager with backing from investment firm RedBird Capital Partners, according to people with knowledge of the matter.
The new firm will be called Reckoner Capital Management. Kim is being joined by former Panagram colleagues including Ricky Li and Timothy Wickstrom, who will also be co-founders, as well as Cindy Wu, said the people, who asked not to be named because they’re not authorized to speak publicly.
Reckoner will focus on liquid credit markets and has ambitions to become a global credit platform, the people added.
Kim resigned last month from Panagram, which he’d joined when it was formed in 2021. A wholly—owned subsidiary of Todd Boehly-led investment firm Eldridge Industries, Panagram specializes in buying collateralized loan obligations, asset-backed securities and commercial real estate.
Kim was a portfolio manager for two of Panagram’s CLO-focused exchange-traded funds.
(Updates to include names of additional Panagram departures in second paragraph)
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