GoldenTree Asset Administration has expanded its non-public credit score workforce with the appointment of Avineet Punhani as principal.
The $55bn (£42.4bn) asset supervisor mentioned that Punhani (pictured) can be primarily based within the agency’s New York workplace and can report back to Grady Frank, companion and head of personal credit score origination.
He has practically 15 years of credit score experience and robust non-public fairness relationships, GoldenTree mentioned.
Learn extra: GoldenTree raises $1.35bn in first non-public credit score fund
He joins from PNC Monetary Providers, the place he served as a managing director with duties that included main their world origination efforts within the know-how trade.
“All through our 25-year historical past, GoldenTree has been a frontrunner in growing revolutionary non-public credit score options, constantly delivering worth to issuers and personal fairness sponsors,” mentioned Frank. “This success has created compelling investments for our funds. We’re excited to welcome Avi to our workforce, and are assured that his experience will improve {our relationships} with non-public credit score issuers.”
Learn extra: UBS identifies higher center market as non-public credit score candy spot
Punhani mentioned: “GoldenTree’s numerous trade experience, expansive capital base and skill to construction distinctive transactions swiftly and at scale create a very differentiated worth proposition. I’m thrilled to affix GoldenTree’s main non-public credit score platform and collaborate with Grady, Lee and this proficient workforce to additional improve our market presence, deepen {our relationships} with key stakeholders and create enticing funding alternatives that may proceed to drive differentiated returns for our buyers.”
GoldenTree was based in 2000 by Steve Tananbaum and specialises in credit score alternatives reminiscent of excessive yield bonds, leveraged loans, non-public credit score, distressed debt, structured credit score, rising markets, actual property, and personal fairness and credit-themed equities.
Learn extra: Non-public credit score “golden age” to proceed