In early 2009, Goldsmith and Klein struck a deal to buy Post Advisory's hedge fund business from Principal and added asset management contracts.

The independent business was renamed to Beach Point Capital Management and a significant number of Post Advisory's employees left to join it including its Chief investment officer.

[2][3] Within a year of its founding, Beach Point became the 83rd biggest hedge fund firm in the world, ahead of Marshall Wace and Tiger Global Management.

Beach Point which was owed more than $73 million tried to oust the management of the firm and presented to the court it had amassed evidence of "rampant fraud" by the company to "line the pockets of insiders."

In 2015, a settlement was reached where the chief restructuring officer took control of the firm and Beach Point was allowed to select a third member to the board.