GSC Partners is in the early stages of launching a new fund that will focus on commercial real estate debt and to this end has hired Alexander Zabik from BlackRock as a senior managing director and head of high yield real estate, a new position. Zabik will be the portfolio manager of a planned fund that will focus on U.S. commercial real estate-backed high-yield debt and mezzanine investments.
At BlackRock, Zabik was a senior member of the real estate debt group and a member of the firm's investment committee and investment strategy group. He was also in charge of originations for high-yield commercial real estate debt and part of Anthracite Capital, a public CMBS REIT and CDO issuer. Calls to BlackRock were not returned by press time.
Earlier this year, GSC announced the formation of a hedge fund designed to make debt and equity investments in distressed markets.