Sector developments and company hires

AlbaCore, FSI strategic partnership inked
Australian asset manager First Sentier Investors (FSI) has acquired a majority stake in UK-headquartered private debt firm AlbaCore Capital Group. The move is intended to diversify FSI’s portfolio across new asset classes and geographies. Completion of the strategic partnership is targeted for 3Q23, pending regulatory approvals.

The deal is the latest in a trend that has seen large asset managers and private equity houses acquire European private debt managers. Since the start of 2022, Franklin Templeton Investments has acquired Alcentra (SCI 31 May 2022), Nuveen has acquired Arcmont Asset Management (SCI 28 October 2022) and TPG Capital has signalled its intention to buy its way back into private debt. TPG demerged from Sixth Street Partners three years ago.

In other news…

North America
CIFC Asset Management has appointed Anna Kunz as an md in its investor solutions group. In this role, she will cultivate relationships with current and prospective clients and support capital raising efforts across CIFC’s multi-strategy credit platform.
Based in New York and Miami, Kunz reports to James Boothby and T. Michael Johnson, global co-heads of business development. She has 17 years of experience working in the financial markets and most recently served as head of business development at BlockTower Capital.

Eagle Point Credit Management has announced a raft of senior team promotions, including five new senior principals and 16 new principals. Among the new senior principles is Dan Ko, portfolio manager responsible for strategic investment opportunities in the primary and secondary CLO markets.
Also focused on CLO investments are new principals Patricia Antonios, Daniel Wohlberg and Sam Yoon. Recent hire Karan Chabba, portfolio manager and head of specialty finance, SRT, ABS/MBS and European structured products (SCI 19 July 2022), joins them as principal.

Greystone Commercial Capital has added three senior executives to its CMBS and subordinated debt team, based in New York. The moves follow the appointments of senior mds Jeffrey Lavine and Matt Zisler in September 2022, as the firm pursues the “rapid expansion” of its team.
Mike Casavant, formerly director and head of underwriting at Bank of America Securities, has been appointed md and head of credit and underwriting. Casavant left his position at BofA in April 2021 after nearly nine years with the bank and previously had spells at Ladder Capital Finance and Lehman Brothers.
Greystone has also added former Amherst Capital Management vp of origination Ryan Carlin as director of capital markets and syndications, while JP Chisholm – previously investment officer at Philips Academy (Andover) Endowment – has been named director of originations.