Fidelity makes 12 new hires to strengthen private credit and direct lending

Fidelity International has expanded its private credit team with 12 new hires, including senior appointments in direct lending.

The new hires are part of a major push by asset managers into broader private assets, which follows the creation of Fidelity’s private credit team in early 2021 to launch a full range of lending strategies and private credit.

These latest hires also follow the launch of the company’s first Secured Loan Obligation (CLO), the Fidelity Grand Harbor 2021, last November, which is aligned with SFDR Article 8 requirements.

According to a Fidelity spokesperson, future launches will focus on expanding the European lending and CLO platform, as well as European structured credit and direct lending.

Among the latest key senior recruits is Marc Preiser, who will take up the position of portfolio manager within direct lending. He was most recently at Apollo Global Management where he worked for five years and developed and managed its direct lending business in Europe.

Raphael Charon, who was at Bank of Ireland, joined as Head of Origination within Direct Lending. He worked for 10 years in his previous group where he served as Deputy Global Head of Leveraged and Acquisition Finance and Managing Director France.

Additionally, Pierluigi Volini has joined as Head of Credit and Performance Management. Volini has over 20 years of experience deploying capital in sub-investment grade European corporate debt in special situations, distressed debt, high yield and leveraged loans.

Also within the framework of direct loans, Tim Johnston is appointed managing director. Coming from Beechbrook Capital, where he was a partner, Johnston brings 15 years’ experience originating, executing and monitoring transactions in the UK direct lending market.

Ben Forman is named director within direct lending, having most recently served as director of the leveraged finance and acquisition team at Mizuho Bank, where he led complex financings for mid-market private equity sponsors. and large cap across Europe.

Also among the 12 new hires is former Barings high-yield and leveraged loan specialist Mikko Iso-Kulmala. Iso-Kulmala, who joins as director of private credit investments, most recently oversaw the management aspects of the investment business at Barings.

Commenting on the hires, Michael Curtis, Head of Private Credit Strategies, Fidelity International, said: “We have invested heavily in growing the team to ensure we have the right level of support and technical expertise for us. help drive our ambitious expansion plans as we diversify. in new areas such as direct lending.