Monday, July 15, 2024

AFI people moves round-up: Week ending 24 March

The week’s top people move headlines in alternative asset management, from public sources and AFI analysis of regulatory filings. (Pro and Executive members can get daily updates here).

Ares and Mubadala forge credit secondaries JV

Ares Management and Mubadala Investment Company, the $284bn U.A.E sovereign wealth fund, formed a joint venture to invest in global credit secondaries opportunities.

Dave Schwartz will serve as partner and head of the credit secondaries strategy and sit on the Ares Secondaries Executive Committee. He most recently served as co-head of Ares’ US direct lending strategy.

The senior leadership team also includes Sebastien Burdel and Luca Salvato, both partners in the Ares Secondaries Group, and Nate Walton, partner and head of the private equity secondaries strategy.

Anchored by Mubadala, it will initially aim to deploy approximately $1bn as it seeks to capitalise on the anticipated growth and substantial demand from GPs and LPs for customised liquidity solutions for the credit secondaries asset class.

See recent moves by Mubadala:

KKR and Mubadala make $1bn private credit bet in APAC
Mubadala Capital strikes $2.1bn private equity deal with Ardian
Mubadala signs $2.5bn private credit deal with Alpha Dhabi

Strategic Value Partners names investing chiefs

Strategic Value Partners, a $17bn private credit firm based in Greenwich, CT, has hired Dave Richards from Advent International as managing director and co-head of its investment-operating team in North America.

Sergei Spiridonov has joined from Sun Capital to serve in the same role in Europe.

New head for GAM Systematic

Chris Longworth has been appointed head of GAM Systematic, 13 years after joining the firm, and Danny Dhingra, a senior investment analyst, will join the Systematic Core Macro team, reporting to Chris, after seven years with the firm.

King Street hires new Dubai head from BlackRock

New York-based King Street Capital Management has hired Reda Zebdi from BlackRock as managing director, tasked with leading operations in the Middle-East and North Africa.

Zebdi spent 11 years at BlackRock, most recently as head of institutional clients in the Middle-East, based in Dubai. The $22bn credit manager has become the latest hedge fund to set up there. Read more on AFI.

See all the regulatory changes from this week on the AFI Decision-Makers Tracker