NEW YORK--(BUSINESS WIRE)--Gracie Asset Management, a long/short credit manager founded in 2004, today announced that Kyle Fitzgerald has been promoted to the role of Portfolio Manager for Gracie’s credit funds, effective January 15, 2020. With this appointment, Mr. Fitzgerald will help oversee the fund’s investment activities with emphasis on the energy, basic material, and industrial sectors. Mr. Fitzgerald will report to Chief Investment Officer James Palmisciano and will join the firm’s Investment Committee.

Mr. Fitzgerald joined Gracie in 2008 as an analyst and holds a master’s degree in accounting with honors from the McCombs Business School at the University of Texas. He previously served as an analyst on the mortgage-backed securities derivatives trading desk of Credit Suisse Group in New York. Over his 13-year career at Gracie, Mr. Fitzgerald has been deeply involved in investment operations, portfolio management decisions and investor activities related to a range of investment vehicles and strategies. He has also contributed effectively in support of the firm’s management, investment, and valuation committees.

“With his demonstrated expertise investing across a variety of corporate sectors and in varying market conditions over time, Kyle is a valuable addition to the fund’s portfolio management team,” stated Mr. Palmisciano.

About Gracie Asset Management

Founded in 2004, Gracie manages a growing family of multi-strategy credit hedge funds focused on identifying opportunities in global credit markets including hybrid and capital securities. Gracie is a wholly owned subsidiary of Moelis Asset Management, LP, the parent company for alternative asset management firms with approximately $6.6bn in AUM