Sector developments and company hires

Firm launch

AGL Credit Management has launched, with Peter Gleysteen serving as ceo and cio, and Thomas Lee serving as non-executive chairman. AGL is a private credit investment firm specialising in innovative actively managed credit solutions based on bank loans and aims to build a leading CLO franchise. The firm’s institutional investment partners include a subsidiary of the Abu Dhabi Investment Authority and a large US state pension fund, which together committed equity investments totaling US$650m. In addition, the family office of Thomas Lee made an investment in AGL. Gleysteen previously founded and was ceo of CIFC Asset Management and before that was responsible for JPMorgan’s global corporate loan portfolio. Lee is chairman at Lee Equity Partners.

US

Holland & Knight has hired Ashley Shively as a partner in its San Francisco office. Shively was previously a partner at Reed Smith.  Shively represents financial institutions and businesses in consumer class and individual actions, including fair lending, privacy, credit reporting, debt collection, false advertising and unfair business practices and she will work with clients from a range of practice groups including structured finance.

Wealth firm expands

Kingswood has appointed Najib Canaan as US ceo as the firm aims to expand into the US and grow its investment distribution channels. Canaan, who will join the newly restructured Kingswood investment committee, has more than 30 years of experience and joins from Marinus Capital Advisor, an alternative investment management firm where he was the founding partner and cio. Prior to that, Canaan was md and head of structured finance at GSO Capital.