Siguler Guff has hired Michael Apfel as a managing director and head of credit, a newly created position.
Siguler Guff is a multi-strategy private equity firm with over $14 billion of assets under management. The firm’s credit-related strategies have been active for more than 20 years and have raised over $6 billion of committed capital.
Mr. Apfel will oversee Siguler Guff’s credit-related strategies, which include special situations, distressed, and other niche credit strategies. Mr. Apfel has more than 30 years of credit-related portfolio management, origination and underwriting experience. Most recently, he was a founding member of MidOcean Credit Partners, an alternative credit firm with over $8 billion of assets under management.
While at MidOcean, Mr. Apfel was a senior portfolio manager and the head of opportunistic credit strategies. He also served as the chief investment officer, overseeing the investment business, including portfolio management, research and trading. As a founding member of MidOcean’s credit business – he joined the firm in 2009 – Mr. Apfel was actively involved in leading business strategy, product development and capital raising initiatives, driving the firm’s growth from a single fund at inception into a broad-based credit platform with various investment strategies.
“We are pleased to welcome Michael to the Siguler Guff team as the firm invests and strategically expands its credit business,” said Drew Guff, a managing director and founding partner of Siguler Guff. “Michael is a highly-regarded investment professional with an exceptional track record of building and managing opportunistic credit investment businesses. His skillset and vision are a perfect fit for our firm, as we leverage our existing platform to capitalize on attractive investment opportunities and expand into new credit-related market segments.”
“Siguler Guff is a truly differentiated firm and I am honored to lead its credit platform into this next phase of growth,” said Mr. Apfel. “I look forward to working closely with my colleagues to successfully build upon and manage the firm’s diversified investment business, which is expanding and experiencing increasing investor demand for its offerings. Siguler Guff’s global scale, resources and integrated investment model present an ideal platform for capitalizing on a broad universe of credit opportunities.”
Prior to his time at MidOcean, Mr. Apfel was a managing director and senior portfolio manager at Deerfield Capital Management, a credit investment management firm with over $12 billion of assets under management.
Siguler Guff is headquartered in New York City with additional offices in Boston, London, Moscow, Mumbai, São Paulo, Shanghai, Seoul, Tokyo, Hong Kong and Houston.
© 2019 Private Equity Professional | December 13, 2019
