Beach Point Hires Baumgarten as CIO, Storch as Head

Beach Point Capital Management, a company that manages a lot of money, has hired some new leaders!

Joshua Baumgarten, who used to work at TPG Angelo Gordon and Blackstone, is now the boss of investments.

Eric Storch, with experience from Oak Hill Advisors and Blackstone, will lead the team that works with clients.

The company manages about $20 billion and invests in credit, like loans.

Baumgarten and Storch are starting their new roles this week.

The original leaders, Scott Klein and Carl Goldsmith, will continue to be the co-chairmen and co-CEOs.