Sector developments and company hires

Onex has established a new platform focused on investing in transportation-related assets used for land, air, marine and industrial applications. The strategy will involve investments in hard assets with long lives, contractual cashflows and an element of inflation protection.

The firm has recruited Wes Dick to lead the strategy as md and head of Onex Transportation Partners, based in San Francisco. Dick was previously head of capital markets, corporate finance and business development at BBAM, which he joined in 2006. Before that, he worked in transportation investment banking at Credit Suisse.

Keith Allman also joins the Onex Transportation Partners team as md, based in New York. Allman was previously md, head of esoteric ABS at MUFG and vp, senior securitised asset analyst at Loomis Sayles. Prior to that, he worked at Deutsche Bank, Bamboo Capital Partners, Pearl Street Capital, NSM Capital, Citi and MBIA.

In other news..

EMEA

Fidelity International has appointed several new members to its direct lending team as a part of its move into private credit. The 12 new hires include several senior roles in private credit and follows the firm’s commitment to build a new and separate unit for alternative investment last year. The hires include the former Bank of Ireland’s ceo of France operations, Raphael Charon, who will work on the launch of Fidelity’s direct lending origination initiative. As well, Pierluigi Volini, will join the firm to lead its credit risk management and portfolio oversight from Credit Suisse. Alongside the senior hires, the firm also welcomes Marc Preiser as a portfolio manager from Apollo Global Management, Tim Johnston as md from Beechbrook Capital, Ben Forman as director from Mizhuo Bank, and Mikko Iso-Kulmala as an investment director from Barings.

North America

US Bank has appointed Bill Orr md, ABS syndicate, based in Charlotte, North Carolina. He was previously an md at Wells Fargo, which he joined in January 1998.