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Obituary: Keith Barnish, 58, was loan market pioneer

Keith Barnish, a loan market pioneer, died on April 20 at the age of 58. Over his distinguished, 30-plus-year career, Barnish held senior positions at Toronto-Dominion Bank, Security Pacific Bank, Bank of America, and Bear Stearns, where he held the title of Co-head of Global Acquisition Finance and Financial Sponsors. Most recently, Keith was Senior Managing Director and Head of Leveraged Asset Management at Doral Financial Corp.

Over his long tenure in the loan market, Barnish was a mentor and great friend to legions of leveraged finance and capital markets professionals, many of whom credit him with being an original thinker who played an important role in propelling a nascent loan syndications business to the global investment capital market that it is today.

Barnish is survived by his loving wife, Joyce White Barnish, and their beloved children, Ashley, Keith, and Justin. In lieu of flowers, the family would appreciate donations to the Delbarton School, for the renovation of Old Main, 230 Mendham Rd., Morristown, N.J., 07960.

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CCMP Capital adds Rose as advisor, focused on industrial, consumer sectors

urlCCMP Capital Advisors said today Nick Rose would become an advisor to the firm, which specializes in middle market buyouts and equity investments.

Rose was most recently chairman of Edwards Group, a manufacturer of vacuum pumps, and a previous portfolio company of CCMP Capital Advisors. He was also CFO at drinks company Diageo.

Rose will focus on industrial and consumer investments in Europe and North America.

CCMP Capital Advisors Investments include ARAMARK, Chaparral Energy, Infogroup, Jetro Holdings, LHP Hospital Group, Medpace, Milacron, Newark Energy, Ollie’s Bargain Outlet, and Pure Gym. – Abby Latour

Follow Abby on Twitter @abbynyhk for middle-market deals, leveraged M&A, distressed debt, private equity, and more

 

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Ruitenberg appointed head of Leveraged Finance Germany at NIBC

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Victor Ruitenberg has been appointed as head of Leveraged Finance Germany at NIBC Bank, according to market sources. He will report into Jean Spanjersberg, global head of leveraged finance.

Ruitenberg has been with the bank since 2001, and was responsible for starting its Frankfurt branch in 2005. More recently, he has been responsible for NIBC’s entire leveraged finance portfolio. – Sarah Husband

 

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Gilday joins MS as co-head of Euro lev. & acquisition finance

Ian Gilday is expected to start a new role this summer at Morgan Stanley as co-head of European leveraged and acquisition finance, alongside Matt Naber, according to market sources. Gilday brings 12 years’ experience in risk management, team building, and origination across the leveraged finance markets.

The hire further builds Morgan Stanley’s leveraged financing platform, and follows the hire of Yannick Perreve last year to spearhead the bank’s leveraged finance sponsor business in Europe. Emanuela Cisini also joined the leveraged finance team last July as executive director, while Richard Stiens was promoted to managing director within the team.

LCD reported earlier this week that Gilday had left his previous role at Goldman Sachs, having spent nine years at the bank. Most recently, Ian worked as head of EMEA CLO origination for the bank, a role he started last June, and prior to that he was head of syndicate and leveraged capital markets for the EMEA region. Before joining Goldman, Gilday spent five years in Merrill Lynch’s European leveraged finance team. –Sarah Husband

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Europe: Ian Gilday heads to new role at Morgan Stanley

Ian Gilday has resigned from Goldman Sachs, and is understood to be heading to Morgan Stanley, according to market sources.

Gilday joined Goldman Sachs from Merrill Lynch in 2005, and most recently was head of EMEA CLO origination, a role he started last June. Prior to that he was head of syndicate and leveraged capital markets for the EMEA region. – Sarah Husband

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Middle-market PE firm Watermill hires John N. Carr from Lionheart

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Middle-market deal maker John N. Carr has joined Watermill Group to evaluate new investments and support strategic initiatives for the private equity firm’s portfolio companies.

He joins from Philadelphia-based Lionheart Ventures, a private equity firm focusing on industrial companies. Carr has also worked at Goldman Sachs, Gomez Inc., J.P. Morgan, and Stroud Consulting.

Carr will be a principal at Lexington, Mass.-based Watermill, joining principals Michael Fuller and Julia Karol, as well as a team of six partners.

Watermill’s portfolio includes C&M Corporation, recycled-paper manufacturer FutureMark Paper Group, stainless-steel tubing maker Fine Tubes, Polaroid filmmaker MultiLayer Coating Technologies, component manufacturer Tenere, and Superior Tube Company. The firm targets companies generating annual revenue of $40-500 million, including distressed situations, challenged industries, complex transactions, and companies at turning points.

In February, Watermill invested in The Plastics Group, which manufactures blow-molded plastics, including large items such as bed frames and portable toilets, and plastic products with complex chemical properties such as the fuel tanks in lawn tractors and generators. Cole Taylor Bank and Medley Capital provided financing for the investment. – Abby Latour

Follow Abby on Twitter @abbynyhk for middle-market deals, leveraged M&A, distressed debt, private equity, and more

 

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Hanslin departs Nebula as firm puts CLO business on hold

Mark Hanslin has decided to leave his role as senior portfolio manager at Nebula Capital to seek other opportunities, according to market sources. The decision follows the firm’s decision to put its loan and CLO business on hold, sources add.

Hanslin joined the Stamford, CT-based firm a year ago to launch a loan management platform centered on CLOs and separate accounts. The manager had been working with Nomura on its first CLO, sources said.

Prior to joining Nebula Capital, Hanslin, who has over 28 years of experience in the U.S. loan markets, worked at Mizuho and Mountain Capital. – Sarah Husband

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BAML taps Sarang Gadkari to head US Leveraged Finance

bankofamericamerrilllynchlogojpg_optBank of America Merrill Lynch has appointed Sarang Gadkari to be the head of its U.S. Leveraged Finance effort, sources said.

Gadkari, a 20-year veteran of the bank and most recently head of healthcare leverage finance, will have sector coverage responsibilities for capital commitments and will partner with Global Leveraged Finance head Robert Schleusner to manage all aspects of the U.S. Leveraged Finance business, according to sources.

Gadkari’s appointment on the origination side of the business comes alongside an announcement that BAML has tapped Deutsche Bank’s Kevin Sherlock to become co-head of Leveraged Finance Capital Markets along with Stephan Jaeger, who has been with the bank since 1997.

Gadkari, Jaeger, and Sherlock will all report to Schleusner. – Staff reports

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DB’s Kevin Sherlock to join BAML as co-head Lev Fin Capital Markets

BofA02_optDeutsche Bank’s Kevin Sherlock is joining Bank of America Merrill Lynch as co-head of Leveraged Finance Capital Markets, according to an internal memo obtained by LCD. A spokesperson confirmed the move.

Sherlock will work alongside co-head Stephan Jaeger, who has been with the bank since 1997. Both will report to Robert Schleusner, head of Global Leveraged Finance.

Sherlock and Jaeger will head up all underwritten and best efforts loan and bond financings in leveraged finance coverage areas, according to the memo.

At Deutsche Bank, Sherlock was a managing director and head of U.S. Loan and High-Yield Capital Markets. On March 17, Deutsche Bank announced internally some changes to its high yield and leveraged loan capital markets group.

Alexandra Barth and Robert Miller were promoted to co-heads of U.S. High Yield Capital Markets, while Sandeep Desai and William Wiltshire were promoted as co-heads of U.S. Leveraged Loan Capital Markets. All four will report to Sean Murphy, head of Leveraged Finance and Debt Capital Markets Americas.

Murphy reports to Mark Fedorcik, who continues in his role as Global Head of Leveraged Finance and Debt Capital Markets at Deutsche Bank. He is also co-head of Corporate Finance Americas. – Staff reports