RLPC-EQT hires leveraged loan banker Slade-sources
LONDON, Sept 8 |
LONDON, Sept 8 (Reuters) - Former leveraged loan banker David Slade has joined Swedish private equity firm EQT Partners, working with senior partner Paul de Rome in London, banking sources said on Wednesday.
Slade was previously at Credit Suisse (CSGN.VX) for 12 years, latterly as co-head of European credit and head of European leveraged finance before taking early retirement in January 2009. He was also chairman of the Loan Market Association for just under two years from July 2007.
EQT could not immediately be reached for comment.
Slade's move to Europe's buyside of institutional investors is part of a bigger structural shift in Europe's leveraged loan market, as larger money managers such as pension funds and insurance companies gear up to help tackle a looming refinancing cliff in 2015.
Collateralised Loan Obligation funds (CLOs), previously the biggest buyers of leveraged loans, have deployed their funds and are unable to structure new vehicles, while banks are less able to commit funds to the increasingly capital-intensive market.
Slade started in his new role last week, a banker said.
EQT Partners is the investment advisor to all EQT funds which invest in northern and eastern European companies. EQT has raised 13 billion euros ($16.5 billion) since its establishment and invested 8.5 billion euros in more than 75 companies. (Reporting by Tessa Walsh; Editing by David Holmes) ($1=.7867 Euro)
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