Sector developments and company hires

Antares succession revealed
Timothy Lyne, founding partner and current coo of Antares Capital, is set to succeed David Brackett as ceo. Brackett will be retiring from his role as ceo on 31 December 2021 and will remain with Antares in an advisory capacity.

Lyne brings to the role more than three decades of leadership experience in the financial services, investment and private credit spaces. As part of a planned transition, he assumed the role of coo in April 2020, overseeing the firm’s sponsor coverage, capital markets activities, operations and technology functions, as well as marketing and enterprise risk. He is also a member of Antares’ investment committee.

EMEA
Crestbridge has appointed Conor O’Brien as head of accounting and transfer agency, based in Dublin. In his new role, O’Brien is responsible for establishing, leading and promoting the accounting, valuations and transfer agency functions of the fund administration business of Crestbridge Ireland.

He brings over 25 years of experience working in the funds industry, with particular expertise in developing services for clients in private equity, real estate funds and structured credit. Most recently, O’Brien was head of operations, fund valuation services at Societe Generale Securities Services, which he joined in July 2014.

Triparty collateral service extended
BNP Paribas Securities Services has extended its triparty collateral management service to synthetic securitisation and collateralised notes programmes. Launched in 2017, the service connects financial market participants, facilitating the circulation of assets and expanding the range of securities that can be used to back up securities financing and derivatives trades. This innovative use of triparty collateral management is already being used to manage the collateral aspects of the repo associated with BNP Paribas’ Resonance 5 synthetic transaction.

As a neutral triparty collateral agent, BNP Paribas Securities Services can manage the collateral management process on behalf of the two parties to a transaction and protect the interests of SPVs throughout the collateral management process. Services include selecting collateral in accordance with eligibility rules, transferring collateral on a near real-time basis and valuing collateral assets. The bank can also manage margin calls, substitution in the case of a recall of the securities and corporate actions.