Redding Ridge Asset Management

Redding Ridge Asset Management

About

Redding Ridge’s primary business consists of acting as collateral manager for CLO transactions and related warehouse facilities and as holder of CLO Retention interests in both U.S. and Europe.

Strategically positioned with access to significant CLO management and structuring expertise, industry contacts and investor relationships. Supported by top tier credit research, credit risk management, credit trading platform and other corporate / administrative services through various service contracts.

We are situated to maximize the CLO arbitrage opportunity with permanent capital affording Redding Ridge the ability to remain patient and tactical.

Redding Ridge was established and seeded by Apollo Global Management in response to risk retention regulations.

clo management philosophy

Redding Ridge has a strong focus on execution and structuring in addition to consistent portfolio management. We believe this generates the best performance for all investors.

Venn diagram depicting CLO Management Philosophy

Consistent Portfolio Management: Maintain a disciplined investing approach through all markets. We invest on a bottom-up basis, allowing us to build a portfolio of investments in which we have a deep understanding of each individual name.

Execution: Strategic and selective on timing when ramping assets and issuing a deal, aiming to create attractive investment vehicles.

Structuring: Each deal is structured to fit our credit investment style.

Redding Ridge has a strong focus on execution and structuring in addition to portfolio management. We believe this generates the best performance for all investors.

Market Accessibility and Experience

Redding Ridge Asset Management has been formed with key features allowing for successful execution and management of CLOs:

Warehousing

Long-tenor warehousing

Access

Significant access to assets, deal flow, management teams, industry insights and the investment banking community

Experience

CLO Management Experience with a dedicated team of professionals with an average of 22 years of experience in leveraged loans and CLOs

Systems

Access to systems supporting trading & operations, as well as monitoring of CLO compliance tests

Redding Ridge has entered into contracts with Apollo Global Management to provide:

Administrative Services Agreement

Apollo Global Management provides corporate and operational services to Redding Ridge, including human resources, trade operations/settlements, administration, vendor contracts and information technology

Employee Sharing Agreement

Employee arrangements with Apollo Global Management pursuant to which certain key U.S. and European credit professionals are shared

Credit Research Services Agreement

Apollo provides both initial and ongoing credit research and analytics for Collateral Obligations being considered for or held by CLOs managed by Redding Ridge

Our People

Investment Professionals

Bret Leas - Managing Director

Mr. Leas serves as a Managing Director and member of the Board of Directors of Redding Ridge. He is also a Senior Partner at Apollo and currently serves as Head of Global Structured Finance and ABS. Prior to joining Apollo in 2009, Mr. Leas was a Director at Barclays Capital with primary responsibility for the loan structuring and advisory team. Prior to Barclays Capital, he was an associate at Weil, Gotshal & Manges LLP, primarily focusing on asset-backed securities, CDOs and credit derivatives. Mr. Leas is the former Chairman of the Board of Directors of the Make-A-Wish Foundation of Metro New York and Western New York. Mr. Leas graduated cum laude from the University of Maryland with a B.A. in History and received his J.D., cum laude, from Georgetown University Law Center.
Joseph Moroney - Managing Director

Mr. Moroney serves as a Managing Director of Redding Ridge. Mr. Moroney joined Apollo in 2008 and concurrently serves as a Partner and Co-Head of the Global Corporate Credit business. Prior to joining Apollo, Mr. Moroney was with Aladdin Capital Management where he served as the Senior Managing Director of its Leveraged Loan Group. Mr. Moroney's investment management career spans 25 years, with experience at various leading financial services firms including Merrill Lynch Investment Managers and MetLife Insurance. Mr. Moroney graduated from Rutgers University with a B.S. in Ceramic Engineering and serves on the Board of Overseers of the Rutgers Foundation. He is a Chartered Financial Analyst and a member of the NYSSA.

Stephen M. Riddell, CFA – Chief Investment Officer

Mr. Riddell joined Redding Ridge as Chief Investment Officer and a Managing Director. Prior to Redding Ridge, Mr. Riddell served as Senior Portfolio Manager at Capitala Group. From 2011-2014, Mr. Riddell served as a Managing Director and Portfolio Manager in the Performing Credit group at Apollo Global Management. Prior to joining Apollo, Mr. Riddell was a founding partner of Gulf Stream Asset Management. Mr. Riddell led the capital formation and portfolio management efforts as well as the structuring and execution of many of Gulf Stream’s credit funds. Mr. Riddell worked in leveraged finance and loan syndications with First Union Securities Inc. and Chase Securities Inc. early in his career. Mr. Riddell graduated magna cum laude from Furman University with a B.A. degree in Economics and received his M.B.A. from Vanderbilt University.

Albert Huntington – Head of Capital Markets and Banking

Mr. Huntington joined Redding Ridge as Head of Capital Markets and Banking and a Managing Director. Prior to Redding Ridge, Mr. Huntington joined Apollo’s Corporate Structured Credit Group in 2014. Mr. Huntington was also a Director in the CLO Structuring & Origination Group at Bank of America Merrill Lynch. He has structured over $45 Billion of CLOs, CLO Refinancings and CLO repackaging across over 75 transactions. Amongst his many innovations in structured finance is the CLO “Reset” (the amendment and extension refinancing of a CLO). Mr. Huntington graduated from The University of Virginia with a B.S. in Chemical Engineering and received his M.B.A from The College of William & Mary, where he graduated Beta Gamma Sigma.

John J. D'Angelo

Mr. D’Angelo is a Portfolio Manager and Managing Director of the Management Company.  Prior to joining Redding Ridge, Mr. D’Angelo was a Senior Portfolio Manager and Managing Director at Pretium Credit Management LLC in New York where he managed a portfolio of high yield and distressed bank loans for six CLOs, one Total Return Fund and one public Mutual Fund, representing over $2.5 billion in total assets.  Prior to joining Pretium, Mr. D'Angelo was the Senior Portfolio Manager for the High Yield Loan Group at Aladdin. He was a key man and primary portfolio manager on all of Aladdin's CLO transactions and total return loan funds, which totaled over $3.5 billion in assets. Prior to joining Aladdin, Mr. D'Angelo was a Director of Investments at Harbinger Capital Partners, focusing on distressed credits across several industries. Before Harbinger, he was a Vice President, Senior Credit Analyst at ING Capital Advisors, LLC. Mr. D'Angelo also worked in the leverage banking divisions at CIBC World Markets, Royal Bank of Canada and Credit Lyonnais. Previously, he spent five years at The Chase Manhattan Bank in the Real Estate and Emerging Markets restructuring groups. Mr. D'Angelo received his MBA from New York University, Leonard Stern School of Business and BS from SUNY Albany.

Jim Galowski

Mr. Galowski serves as Chairman of the Board of Directors of Redding Ridge. He joined Apollo in 2012 and concurrently serves as a Partner based in London. Prior to joining Apollo, Mr. Galowski spent six years at Stone Tower Capital where he was a Partner and responsible for overseeing all investment activities in structured credit. He has over thirty years of experience in the financial services industry. Previous to Stone Tower, Mr. Galowski spent 15 years with WestLB and its subsidiaries in New York, London and Singapore. He was a Managing Director and served on the Board and Executive Committee of WestLB Asset Management (U.S.) LLC. In Singapore, Mr. Galowski was initially the Regional Treasurer and ultimately assumed responsibility for the bank’s Financial Markets activities in the APAC region overseeing the bank's Rates, Derivatives and Capital Markets operations with trading rooms in Hong Kong, Singapore, Tokyo, Sydney and Shanghai. While in London, Mr. Galowski focused on the re-organization of the bank's European Treasury operations and served as the Group Treasurer of the Thomas Cook Group. While in New York, Mr. Galowski was responsible for WestLB's Asset Liability management of the bank's North American balance sheet. Prior to WestLB, Mr. Galowski spent five years with the Canadian Imperial Bank of Commerce in both New York and Toronto trading interest rate products. Mr. Galowski is the Co-Portfolio Manager of the Apollo Structured Credit Recovery Funds, a board member of Apollo Asset Management Europe and a member of the board of directors of the Make a Wish Foundation of Metro New York and Western New York. Mr. Galowski holds a B.S. in Finance from St. John's University and an M.B.A. from Fordham University's School of Business.

Alan Kelly

Mr. Kelly is a member of the Credit Investment Committees for Redding Ridge UK. He joined Apollo in 2012 and concurrently serves as a managing director in the Structured Finance & ABS Business based in London. Prior to joining Apollo, Mr. Kelly was responsible for seeking investment opportunities and marketing Stone Tower Capital's services in Europe. Previously Mr. Kelly spent ten years as a Senior Portfolio Manager with LBBW in its Irish Asset Management subsidiary managing CDO, CLO and ABS portfolios. Mr Kelly was also responsible for structuring off balance sheet vehicles on behalf of LBBW Ireland. Prior to joining the credit team in LBBW Ireland, Mr Kelly spent five years as an interest rate trader. Mr Kelly holds a B. Comm degree and an MBS in Financial Services from University College Dublin.

Tristam Leach

Mr. Leach is a member of the Credit Investment Committees for Redding Ridge UK. He joined Apollo in 2015 and concurrently serves as a portfolio manager in the Corporate Credit Group based in London. Prior to joining Apollo, Mr. Leach spent eight years at Cheyne Capital, initially working on the Total Return Credit Fund, and latterly as Portfolio Manager of the Cheyne Long Short Credit Fund, which he managed since late 2011. Mr. Leach graduated from the London School of Economics with a first class honours degree in Economics and Government.

Michael Paniwozik

Mr. Paniwozik is a member of the Structured Credit Investment Committee of Redding Ridge. Mr. Paniwozik is a Partner in Credit and is co-head of Corporate Structured Credit Investing at Apollo. Prior to joining Apollo in 2015, Mike was a managing director and the Senior Product Strategist for US Corporate Credit at Napier Park Global Capital. Mr. Paniwozik began his career in credit structuring at Credit Suisse First Boston. Mr. Paniwozik received a B.A. in economics, with honors, from the University of Chicago.

Bhavin Patel

Mr. Patel is a member of the Credit Investment Committees for Redding Ridge UK. He joined Apollo in 2008 and concurrently serves as a portfolio manager in the Corporate Credit Group based in London. Mr. Patel has 19 years of experience in the financial markets and serves as lead Portfolio Manager on Apollo and Redding Ridge CLOs. Mr. Patel has been Apollo’s senior trader in London since he joined and has played an integral role in sourcing assets for all of Apollo’s European CLOs since their inception in 2013. He was central in rebuilding the European Credit platform across distressed and liquid products. Prior to working at Apollo, Mr. Patel was a trader at Morgan Stanley in London from 2006 to 2008, trading high yield bonds, loans, credit default swaps (CDS) and loan CDS (LCDS). In 1999 he joined the Barclays graduate program and worked on the market risk desk in New York, and from 2001 to 2006, traded high yield bonds and CDS for the European Credit team at Barclays Capital in London. He graduated from Kings College London (University of London) with a BSc (Hons). He is also a Chartered Financial Analyst holder (CFA) from the CFA Institute.

James Vanek

Mr. Vanek is a shared employee of Redding Ridge. He joined Apollo in 2008 and concurrently serves as a portfolio manager within the Global Corporate Credit Group. Since joining Apollo, Mr. Vanek has been responsible for trading leveraged loan assets for all funds involved in the product at Apollo. Prior to joining Apollo, Mr. Vanek was with Bear Stearns where he was a Vice President in the Leveraged Finance group with primary responsibility for trading bank loans for that firm’s loan trading desk and on behalf of the portfolio group. Previously, Mr. Vanek worked at Thomas Weisel in investment banking. Mr. Vanek graduated from Duke University with a B.S. in Economics and a B.A. in Computer Science, and holds an M.B.A. from the Graduate School of Business at Columbia University.

Business Professionals

Obinna Eke - Head of Investor Relations
Mr. Eke serves as Head of Investor Relations at Redding Ridge. Mr. Eke joined Apollo in 2020 as a Principal in the Client and Product Solutions Group. Prior to that, Mr. Eke was the Head of the US CLO Syndicate Desk at BNP Paribas CIB where he was responsible for managing the marketing and distribution process for BNP Paribas' US CLO business. Prior to BNP Paribas, Mr. Eke was an Analyst in the Equity Finance Group at Goldman Sachs International. Mr. Eke graduated from University of Lagos, Nigeria with a B.S. degree in Systems (Industrial) Engineering and received his M.S. in Financial Engineering from the Haas School of Business in University of California, Berkeley.
Joseph Glatt – Chief Legal Officer

Mr. Glatt is the Chief Legal Officer of Redding Ridge. He joined Apollo in 2007 and concurrently serves as General Counsel for Apollo Credit. Prior to that time, Mr. Glatt was associated with the law firms of Simpson Thacher & Bartlett LLP from 1998 to 2003 and Schulte Roth & Zabel LLP from 2003 to 2007, in each case, primarily focusing on mergers and acquisitions, leveraged buyouts and capital markets activities. Mr. Glatt serves on the Board of Trustees for FamilyConnections, a community based counseling and family service agency, and also serves on the Board of Advisors for the Institute of Law and Economics, a joint research center of the Law School, Wharton and the Department of Economics at the University of Pennsylvania. Mr. Glatt received his J.D. from University of Pennsylvania Law School and graduated Phi Beta Kappa summa cum laude from Rutgers College with a B.A. in Political Science, Psychology and Hebraic Studies.

Isabelle Gold - Chief Compliance Officer

Ms. Gold is the Chief Compliance Officer of Redding Ridge. She joined Apollo in 2016 and concurrently serves as a Senior Compliance Manager for the Credit platform. Prior to joining Apollo, Ms. Gold was a counsel in the Litigation Group at Akin Gump Strauss Hauer & Feld LLP, where she represented investment management firms and individuals in relation to civil litigation, regulatory investigations and enforcement proceedings. Ms. Gold graduated from Cornell University with a BA in English and received her JD from the University of Michigan Law School.

Andria Trinidad – Chief Financial Officer

Ms. Trinidad is the Chief Financial Officer of Redding Ridge. She joined Apollo in 2011 and concurrently serves as Controller for Apollo’s Performing Credit business. She is responsible for accounting and financial reporting for all U.S. and European CLOs. Prior to joining Apollo, Ms. Trinidad was responsible for credit funds and CLOs within the Global Market Strategies of The Carlyle Group. Ms. Trinidad started her career in public accounting within the Investment Management Services practice at PricewaterhouseCoopers, specializing in alternative investments, including CLOs and hedge funds. Ms. Trinidad graduated cum laude from Rutgers University with a B.S. in Accounting.

For Investors

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Redding Ridge Asset Management
126 East 56th Street / 22nd Floor / New York, NY 10022
Phone: 877 CLO RRAM / Email: info@rram.com