J. Douglas Kramer, a former managing principal and chief operating officer of Quadrangle Group, has joined Horizon Asset Management as chief executive officer. In the newly created role, Kramer will oversee all of Horizon’s non-investment functions and its strategic development, as the firm builds its asset management business and research team.
At Quadrangle, Kramer led the development of the infrastructure and systems of Quadrangle Asset Management, a new unit the firm launched in January 2008. One of the unit’s major mandates was managing the personal investments of New York City mayor Michael Bloomberg, along with the investments of the Bloomberg Family Foundation.
Before joining Quadrangle in 2008, Kramer lead Goldman Sachs’ global manager strategies group. Kramer also built and managed Goldman Sachs’ fiduciary management business.
Murray Stahl, chairman and co-founder of Horizon, said that the firm would seek to build on Kramer’s “significant relationships” with institutional and high net worth clients.
Before Quadrangle and Goldman Sachs, Kramer was a director of Columbia Energy Services in Houston, Texas, where he managed derivatives portfolios. Previously he was a portfolio manager at Fischer Francis Trees and Watts in New York.