Carlyle and Oppenheimer JV on private credit; CIT recruits financial sponsors group executives - Middle Market Players - Debtwire

Carlyle and Oppenheimer JV on private credit; CIT recruits financial sponsors group executives – Middle Market Players

20 October 2017 - 12:00 am

Debtwire’s weekly Middle Market Players round-up highlights people moves and new business formations in the leveraged loan, high-yield and distressed markets. Please send any submission ideas to: [email protected].

 

The Carlyle Group and OppenheimerFunds have announced a new joint venture fund focused on providing high net worth investors and advisors with access to global private credit opportunities, according to sister news service Creditflux. The JV, set to begin operating in 2018, is aimed at non-institutional investors and will be led by Kaml Bhatia, head of investment solutions for Oppenheimer Funds, and Mark Jenkins, head of global credit for Carlyle. Its initial focus will be on opportunistic credit, direct lending, distressed transactions and structured credit assets in the US, Europe & Asia.

 

Elsewhere, Goldpoint Partners, launched a USD 100m credit fund, GoldPoint Private Credit, according to SEC filings. The New York-based Goldpoint, a spinoff of New York Life, has USD 11.6bn in assets under management.

 

CIT hired Kenneth Caffrey and Michael Cavounis as managing directors in its sponsor finance group, according to a company press release. Caffrey joins CIT from HSBC where he was a director for middle market financial sponsors group and helped establish the bank’s US middle market leveraged credit platform. Cavounis joins CIT from American Capital where he was a principal in capital market activities.

 

Elsewhere, CIT retained Nicholas Nunnari as a vice president and business development officer in its commercial services team, according to a press release Wednesday. Before starting with CIT, Nunnari was an account executive with Merchant Factors Corp, and previously worked for Fox Sports and the NFL Network. Within his new role, Nunnari will focus on developing west coast business and establishing new lines of credit for consumer product companies.

 

Crayhill Capital tapped Shamafa Khan to be a managing director and head of marketing and investor relations, according to a Reuters report. Khan’s previous experience includes time at UBS’s capital introduction group, and prior to joining Crayhill, Khan was with Barings as a global business development group director.

 

Citibank is looking to bolster some of its regional offices as well, bringing on Joseph Lehrer as a senior vice-president in the bank’s asset based finance group. Lehrer will source new mid-western business opportunities, and will be work out of Citibank’s Chicago office. He joins with more than 25 years of experience and will focus on companies with minimum revenues of USD 150m.