As Executive Chairman of Preston Capital, Mr. Posnick oversees business development, capital formation, and investor relations for the firm.

Prior to joining Preston Capital, Mr. Posnick was the Co-Head of Distressed Investing for Blackstone Credit. Mr. Posnick had been with Blackstone Credit (previously known as GSO Capital Partners) since 2007. He sat on the investment committees for Blackstone Credit’s alternative funds and was a Portfolio Manager for each of Blackstone Credit's distressed/opportunistic credit funds. Prior to joining Blackstone Credit, Mr. Posnick was a Managing Director and Vice Chairman of the Corporate and Investment Banking Division of Credit Suisse, and prior to that was a Managing Director in the Investment Banking Division of DLJ. Mr. Posnick began his career in investment banking at Drexel Burnham Lambert.

Mr. Posnick received a B.S. in Economics from the Wharton School at the University of Pennsylvania and an MBA from UCLA.  He remains an Executive Advisor to Blackstone and teaches at UCLA.