Man Group Hires Bridge Lane Capital Founders in Private Credit Push

Sep 1 2016 | 9:32pm ET

Global hedge fund manager Man Group has hired Brian Broesder and Westin Lovy, co-founders of private debt specialist Bridge Lane Capital, as Man continues to diversify into less liquid, longer-duration credit strategies.

The two executives will be based out of Man’s Connecticut offices, where they will continue managing Bridge Lane portfolios of private debt transactions with small and lower middle market companies in North America, according to the company. 

The move comes as Man continues to diversify its strategy portfolio and expands further in the United States. 

Broesder and Lovy founded Bridge Lane in 2012 and currently manage approximately $125 million in committed capital, Man said in a statement. Beforehand, both men were at Whitecap Advisors, where Broesder was a portfolio manager and Lovy head of risk management.

Man Group has been focused on increasing exposure to longer duration capital products, such as private debt, as well as growing operations in the US. In the past two years, the company has also acquired Numeric Investors, Silvermine Capital Management and Pine Grove.

“I am delighted to welcome Brian and Westin to Man Group,” said Jonathan Sorrell, President of Man Group, in the statement. “As proven managers in the private debt space, their deep experience and understanding of the market will be of great value to the firm as we continue to develop and broaden our business, enhancing our offering for clients.”

London-based Man Group, which traces its heritage back to the 1783 founding of a sugar coop and brokerage company by James Man, managed $76 billion as of June 30 and is the largest listed hedge fund manager in the world. 

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