There was a major personnel move in the fund-of-funds world this week, as Maria Boyazny left Siguler Guff in order to launch a new firm called MB Global Partners. The New York-based effort is being done in partnership with G2 Investment Group, and will focus on credit-related funds.

Her most recent distressed fund at Siguler Guff closed last year on nearly $2.5 billion (unlevered), and I hear that she’ll target around the same amount for her debut effort at MB.

Pretty heady ambition, but Boyazny has lots of champions in the institutional investor community (particularly among Australian LPs, which provided around 25% of that last Siguler Guff fund).

Only question is if those past backers will be upset that Boyazny decided to hang her shingle so soon after raising a new vehicle at Siguler Guff. My best guess is that they’ll forgive…

Last year, Siguler Guff sold a 20% ownership stake to BNY Asset Management BK .