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MVC Capital hires mezzanine lending team from Fifth Third

MVC Capital hired a team of four from Fifth Third to expand mezzanine lending, reflecting the bank’s move away from that business.

The hires include David J. Williams, who co-founded Fifth Third’s Mezzanine Finance Group in 1999. He joins the company as managing director.

Harrison S. Mullin also joins as a managing director. David R. Gardner and Scott D. Foote are also part of the new team.

The team will join Tokarz Group Advisers, the external manager of MVC, and will be based in Cincinnati.

MVC Capital, a BDC that trades on NYSE as MVC, targets small and middle-market companies for growth investments, acquisitions and recapitalizations. The fund typically invests $3-25 million for control and non-control stakes in Midwestern U.S. companies generating annual revenue of $10-200 million and EBITDA of $3-25 million. – Abby Latour

 

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Medley Capital hires Lehman veteran Howard Liao

medley-capital-squarelogo-1383072407374Howard Liao has joined Medley Capital as a managing director.

Liao spent 14 years at Lehman Brothers, where his career spanned mezzanine financing, leveraged finance, and global M&A.

Medley Capital Corporation, an externally managed BDC that trades on the NYSE as MCC, lends to privately held small- and middle market companies, mainly in North America. The portfolio largely comprises first-lien and second-lien loans, but also warrants and equity. It is managed by MCC Advisors, a subsidiary of Medley Management, which trades on NYSE as MDLY. –Abby Latour

 

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Balance Point Capital adds hire, Nathan Elliott, for middle-market deal execution

balanceBalance Point Capital Partners hired Nathan Elliott for underwriting and execution of debt financing to middle-market companies.

He joins the Westport, Conn.-based company as a vice president. He will report to managing partner Seth Alvord and partner Justin Kaplan.

Previously, he was a vice president at Jefferies Finance, where he was responsible for due diligence and underwriting of loans and bridge financings for sponsor-led buyouts. Prior to that, he worked at GE Capital.

Balance Point Capital Partners invests mezzanine and equity capital into U.S. lower-middle-market companies generating revenue of $10-150 million, and EBITDA of at least $2 million.

Among the firm’s investments are game and toymaker Patch Products; New Jersey-based regional dental-management company Brighter Dental Care; Sacramento, Calif.-based security-alarm-monitoring company GHS Interactive Security; and radio broadcasters Digity Media and Connoisseur Media. – Abby Latour

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Sikich hires growth-company specialist Hampton for capital markets team

sikich_logoMiddle-market investment bank Sikich has hired Ryan Hampton to join its capital market team.

Hampton joins as a director.

He has specialist experience in raising capital for emerging growth companies across industries.

Previously, Hampton was a vice president of investment banking at Clark Dodge & Company/Advanced Equities. He was also a vice president at Bank of America Merrill Lynch, where he completed numerous mergers and acquisitions and raised capital for a range of companies. – Abby Latour

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Gladstone Capital expands middle-market debt origination team with LA hire, Zoltan Berty

gladstoneGladstone Capital Corp., a BDC that trades on Nasdaq under the ticker symbol GLAD, has announced Zoltan Berty is joining the company to lead West Coast debt origination efforts of privately held middle-market companies.

Berty was hired as a managing director and will be based in Los Angeles.

He joins Gladstone from Caltius Mezzanine, a mezzanine fund investing in junior capital and minority equity investments in middle-market companies, where he was a principal.

Previously, he was a vice president at D. E. Shaw Direct Capital, where he originated investments across the capital structure, including senior debt, mezzanine, and equity. He was also a director at CapitalSource focused on senior and subordinated debt investments for buyouts and recapitalization deals.

Berty has also held credit management and debt underwriting positions at Transamerica Technology Finance and Fleet Capital.

GLAD invests in senior, second-lien, and subordinated term loans and equity of small- to mid-sized U.S. companies. – Abby Latour

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Citizens Commercial taps Eldridge, Case for middle market debt originations, healthcare

Citizens Commercial Banking expanded its debt originations team with two new hires focused on healthcare.

Ross Eldridge and Tom Case, based in Atlanta, will report to Russ Herakovich, head of Citizens’ Healthcare Finance team. They will focus on originating senior debt to middle market private equity sponsors and companies across the healthcare sector.

Eldridge joins as a director. Previously, he worked at GE Capital Healthcare Financial Services, where he originated and structured debt financing for healthcare clients. Case joins as a Vice President. Prior to Citizens, he was at CIT Healthcare, where he focused on underwriting leveraged buyouts with private equity sponsors.

They will focus on cash flow financings of $60 million to $1 billion in size for companies generating EBITDA of $15 million to over $300 million.

Citizens Commercial Banking has hired bankers in its traditional New England, Mid-Atlantic, and Midwestern markets, as well as in Atlanta, Washington, DC, Charlotte, Dallas, and Los Angeles, as part of a drive to expand its commercial banking operations, a plan announced in August.

Citizens Commercial Banking, formerly known as RBS Citizens, is the commercial banking unit of Providence, RI-based Citizens Financial Group. – Abby Latour

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Onex Credit Partners launches European platform with Baker hire

ONEXOnex Corporation announced today that Stephen Baker will join the Onex Credit Partners team as it establishes a London office to expand the platform to Europe. Initially, the platform will focus on placement of European CLOs.

Onex Credit manages approximately $4.7 billion through several debt strategies. Onex Credit recently completed its largest CLO to date, offering approximately $1 billion in securities and loans in a private-placement transaction believed to be the first broadly syndicated U.S.-dollar CLO structured to comply with European risk-retention requirements.

Prior to joining Onex Credit, Baker was based in London as a senior portfolio manager with CQS, and has also held senior leadership roles in leveraged credit, syndications, and corporate finance with Scotia Capital, Bank of America, Barclays, and Canadian Imperial Bank of Commerce.

Private equity firm Onex Corporation has offices in Toronto, New York, and London. At Onex Credit Partners, Onex manages and invests in leveraged loans, CLOs, and other credit securities. The company has roughly $22 billion of assets under management, including $6 billion of Onex capital, in private equity and credit securities. Onex invests its capital directly and as the largest limited partner in each of its funds. – Sarah Husband

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Europe: Rabobank hires Perl for loan syndications team

rabobankRabobank has announced the hire of Jeremy Perl to its international loan syndications team, as an executive director. Perl will report to Herald Top, and will focus on origination across Europe.

Perl joins from Lloyds, where he worked for more than 20 years in a variety of roles in Lloyds Acquisition Finance, Lloyds Development Capital, Lloyds Capital Markets, and relationship roles in the U.K. and Netherlands. – Staff reports

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Ervin Pilku joins Cantor to trade CLOs, CDOs, and TruPS

Cantor_Fitzgerald_logoCantor Fitzgerald has appointed Ervin Pilku as a managing director with a focus on trading CLOs, CDOs and TruPS, according to market sources. Based in New York, he started his new role last month.

Pilku was previously head of fixed income trading at White, Weld & Co. Prior to that, he worked at Tejas Securities Group trading CLOs, CDOs and ABS. – Staff reports

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Europe: Lloyds appoints Fontana to run combined high yield and leveraged loan team

lloydsLloyds has created a combined high-yield and leveraged loan team under its capital markets platform, and appointed Carlo Fontana to run the team. Fontana will report to Simon Allocca, managing director, head of loan markets at Lloyds Bank Commercial Banking.

Following these changes, David Whiteley has left the business. – Staff reports