Ares Capital Management has added two new investment professionals to its team as part of its expansion of its middle market sponsor coverage strategy. Joining Ares as Managing Directors are Grant Haggard and Brian Moncrief. The two new professionals will be based in Chicago and will focus on senior and subordinated financing opportunities with an emphasis on middle and lower middle market transactions.
“Adding Grant and Brian to our team reflects the growing demand for flexible capital by middle market companies and their sponsors,” said Kipp deVeer, President of Ares Capital. “This enhancement in the depth and breadth of our sponsor coverage reflects the attractiveness of potential returns across the middle market and the changing landscape as participants seek capital from non-bank sources, such as Ares.”
Messrs. Haggard and Moncrief have more than 35 years of combined experience in the leveraged finance industry, primarily focused on covering middle and lower middle market private equity firms nationally. Both most recently served as senior members of the business development team at Madison Capital Funding and they also worked together for eight years at GE Antares Capital.
“We believe we will be able to broaden Ares’ private equity relationships and capitalize on the progressive and seamless financing solutions that Ares can offer. With the universe of lenders in the middle market continuing to consolidate, we believe that Ares will continue to establish itself as a leader in the industry,” said Mr. Moncrief.
Ares Capital provides debt and equity to the US middle-market companies primarily in first- and second-lien loans and mezzanine debt, which in some cases includes an equity component. The firm has offices in Los Angeles, Chicago, New York, Atlanta, Menlo Park and Washington, DC (www.arescapitalcorp.com).
“We are excited to be joining a powerful platform like Ares and look forward to building upon the extensive success that the direct lending team has created,” said Mr. Haggard.
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-28-14