Blackstone’s GSO Capital Partners unit has hired David Flannery as a senior managing director focusing on distressed strategies in both private and public markets.

Flannery will be based in New York, according to a statement, and brings extensive experience in leveraged finance to Blackstone. He joins the company from Anchorage Capital Group, where he focused on illiquid credit opportunities and CLOs. Prior to joining Anchorage, he worked at Bank of America Merrill Lynch for five years where he held several global group head roles including chief risk officer of global banking & markets and global head of leveraged finance. Beforehand, he was the global head of leveraged finance at Deutsche Bank, and began his career at Bankers Trust Company.

“We are thrilled to welcome David to our team,” said Bennett Goodman, senior managing director and co-founder of GSO, in the statement. “As we continue to see expanding opportunities in the distressed arena, David’s deep industry knowledge and proven leadership in leveraged finance will be a meaningful addition to the team.”

GSO Capital Partners LP is the global credit investment platform of global alternative investment manager Blackstone. With approximately $79 billion of assets under management, GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. The company invests in a wide array of strategies, including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies.