RYE, N.Y. (HedgeWorld.com)–Gabelli Asset Management Inc. announced that Thomas H. Mahoney IV was named the new chief operating officer and managing director of its alternative investments unit, Gabelli & Partners LLC, which primarily includes the firm’s hedge fund products.

The new post involves day-to-day responsibility for running Gabelli & Partners.

“I’m excited by the opportunity to work with one of the great investing franchises in the world at a time when it is moving ahead with a global rollout,” Mr. Mahoney said. “Given my experience, I can’t imagine a more perfect fit for me at this time in my career.”

Mr. Mahoney received his MBA from the Wharton School at the University of Pennsylvania and began his investment career in the late 1970s. He has developed, structured and marketed alternative investment products at Merrill Lynch & Co., Deutsche Bank, CDC and Paine Webber Inc.

CFaille@HedgeWorld.com