NEW YORK — Steve Gidumal, 48. has joined Resurgence Asset Management’s distressed security investment team as Managing Director and Co-Chief Investment Officer of the M.D. Sass Corporate Resurgenceprivate equity funds and M.D. Sass Re/Enterprise hedge funds. 
            Gidumal will share portfolio management responsibilities with Byron Haney, who has successfully led the investment team since June2004.  With involvement in over 50 bankruptcy restructurings and corporate reorganizations, Gidumal’s last 10 years have been dedicated to generating superior returns in distressed securitiesinvesting. 
            According to Martin D. Sass, Chairman and Chief Investment Officer, “We are pleased to welcome Steve to the firm.  For severalyears, he has worked with our distressed security investment team on successful distressed deals including Caldor, Musicland and Southeast Banking. 

            “Before joining our distressed securities team,” he added, “Steve was a Founder, Managing Director and Portfolio Manager of Virtus Capital LP; a New York based hedge fund, from February 2004 to the present.  Prior to launching his own company, Steve had served as portfolio manager of Citigroup’s distressed securities operation, Tribeca Investments, was head of distressed research for Trilogy Capital and a distressed securities specialist at Bear Stearns. Steve’s initial position on Wall Street was as an investment banker with the international banking firm of Rothschild Inc.”

Gidumal has a Bachelor of Science degree cum laude from the University of Pennsylvania’s Wharton undergraduate School (1979), and a Masters of Business Administration with highest distinction from Harvard Business School (1989).

            MD Sass has been a leading name in investment management since 1972. Today MD Sass and its affiliates have $8 billion in assetsunder management and employ over 100 people. MD Sass offers both traditional and alternative investment strategies in the form of private equity funds, hedge funds and substantial separately managedaccounts. Its clients include major corporations, financial institutions, state and local governments, endowment funds, foundations, Taft Hartley funds and high net worth individuals. For moreinformation, visit www.mdsass.com