Alternative asset management firm Black Diamond Capital management has appointed a new managing director and structured product portfolio manager as it looks to expand its capabilities in the latter area.

Alternative asset management firm Black Diamond Capital Management has appointed a new managing director and structured product portfolio manager as it looks to expand its capabilities in the latter area.

Jerome Shapiro will be based in Black Diamond’s Greenwich, CT office, and will take responsibility for growing structured investment opportunities across the firm’s platform.

His hire reflects Black Diamond’s view that “structured investment opportunities are an attractive asset class for generating returns for clients,” Black Diamond said in a statement.

Shapiro moves from alternative investment firm One William Street, where he served as senior vice president. There he managed an asset-backed portfolio across multiple commercial and consumer sectors. Prior to this he held posts at Merrill Lynch’s principal investment group and Bear, Stearns & Co, where he traded and structured CMBS and other mortgage products.

Black Diamond has over $8 billion in assets under management across three investment platforms: control distressed/private equity funds; a hedge fund; and CLOs and other structured vehicles.