Prior to joining Quadrangle in 2008, he lead Goldman Sachs’ global manager strategies group and oversaw the evaluation, selection and monitoring of managers across all traditional asset classes. Mr. Kramer was also responsible for building and managing Goldman Sachs’ fiduciary management business.

In this newly created role, Mr Kramer will oversee all of Horizon’s non-investment functions and its strategic development, as the firm continues to build its asset management business and research team.

Murray Stahl, chairman and co-founder of Horizon, said: “Mr Kramer’s proven leadership skills and broad operating experience, coupled with his integrity and commitment to clients, make him the ideal leader for Horizon.

“We look forward to leveraging his significant relationships with institutional and high net worth clients as we continue to expand our suite of innovative investment solutions and products.”

Mr Kramer said: “I have known the Horizon team for many years and believe that their ability to generate superior long-term performance through their exceptional research professionals and process is unmatched. I look forward to collaborating with this talented group which includes my former Goldman Sachs colleague, Hugh Ross, to continue to grow the firm.”