REAL ESTATE INVESTING

PRIVATE CREDIT INVESTORS

AB Private Credit Investors is AB’s middle market direct lending platform. We provide financing to middle market companies across various industry sectors.



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A FLEXIBLE, CREATIVE, SOLUTIONS-ORIENTED LENDER

AB Private Credit Investors provides financing to middle market companies for acquisitions, including leveraged buyouts; recapitalizations; refinancings; and growth investments.  We offer a range of financing solutions customized for the needs of our borrowers.  We provide secured loans including first lien, unitranche, and second lien loans.  We also selectively consider investments in mezzanine debt, structured preferred stock, and minority equity co-investments.

We are relationship-focused, with a long history of supporting the growth needs of our borrowers.  We partner with leading financial sponsors but also lend to non-sponsored companies, including family-owned businesses and public companies in need of a private debt solution.

While we lend to a broad set of industries, our professionals have a deep understanding of certain targeted industry sectors. This sector knowledge allows us to tailor financings to a company's specific needs and ensure quick and efficient transaction execution.

We manage approximately $4.3 billion in investable capital (as of June 30, 2017), and can make sizable commitments to facilitate new and repeat transactions to support the growth needs of our borrowers.

INVESTMENT MANAGEMENT

INVESTMENT PHILOSOPHY

AB Private Credit Investors (AB-PCI) provides investment advisory services with respect to private credit investment portfolios for institutional and high net worth investors.  Our investment focus is secured lending with target, unlevered, asset-level returns of 7%–10%+. 

We focus on midsize companies with EBITDA of $7–$50 million and enterprise values of $75–$500 million.  We look for high-quality businesses with strong management teams.  We are fundamental investors and employ a rigorous approach to credit analysis that enables us to properly assess credit risks and underwrite the underlying value of the businesses we support. 

We have a seasoned, cohesive senior team of investment professionals with a demonstrated track record of deal execution and portfolio management. As an integral part of AB, a global asset manager, AB-PCI has a scalable and stable platform that benefits from AB’s infrastructure, operational resources and global investment research perspective.

DIFFERENTIATED FINANCING SOLUTIONS

We offer the right mix of capital flexibility and experience to partner with middle market companies.

  • Flexible, creative capital
  • Sizable, fully committed, long-term financing
  • Ability to lead, club or participate
  • Dedicated middle market focus
  • Deep sector experience
  • Strong track record of facilitating growth
  • Strategic access to AB's global resources
  • Partnership approach with relationship-driven mindset
  • Straightforward, efficient and transparent process

Our customized financing solutions and efficient transaction process provide greater certainty for middle market companies..

INDUSTRY SECTOR EXPERIENCE

We have a broad investing mandate centered on resilient and diversified business models. Our deep industry experience enhances our ability to be creative and efficient while delivering certainty to our partners and borrowers. Our industry sector experience includes:

  • Alarm Monitoring
  • Business Services (including Tech-Enabled)
  • Communications/IT Infrastructure and Services
  • Consumer Staples
  • Energy
  • Franchising
  • Healthcare/HCIT
  • Industrial
  • Restaurants
  • Software (including SaaS)
  • Specialty Finance
  • Transportation and Logistics

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PRIVATE CREDIT INVESTORS TEAM

STRATEGY, OPERATIONS AND ADMINISTRATION

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  • Brent Humphries
    Brent Humphries
    President—AB Private Credit Investors
    Brent Humphries joined AB in 2014 as a founding member and President of AB Private Credit Investors, where he has primary responsibility for overseeing all aspects of the business, including investor relations, investment originations, structuring and underwriting, as well as ongoing portfolio management and compliance. He previously held the same position with Barclays Private Credit Partners. Prior to joining Barclays, Humphries served as group head of generalist financial sponsor coverage for the Goldman Sachs Specialty Lending Group, and later led its structured private equity initiative. Before that, he served as a partner and managing director of the Texas Growth Fund, a middle-market private equity firm. Humphries previously worked in leveraged finance with NationsBank and J.P. Morgan, and as a financial analyst with Exxon. He holds a BBA in finance with an emphasis in accounting from the University of Oklahoma and an MBA from the Harvard Business School. Location: Austin
  • Wesley Raper
    Wesley Raper
    Chief Operating Officer—AB Private Credit Investors
    Wesley Raper joined AB in 2014 as a founding member and Chief Operating Officer of AB Private Credit Investors, where he is involved in strategy and planning, operations, equity fund-raising and debt financing, accounting, portfolio analysis, cash management and compliance. He formerly held the same role at Barclays Private Credit Partners. Prior to that, Raper was a vice president in the Information Technology Group at Barclays, where he was responsible for building the technology platform for the leveraged-finance business. He holds an MEng from the University of Bristol and an MS in finance from the Zicklin School of Business at Baruch College. Location: Austin
  • Virginia Kocher
    Virginia Kocher
    Chief of Staff—AB Private Credit Investors
    Virginia Kocher joined AB in 2016 as the Chief of Staff for AB Private Credit Investors, where she is involved in various strategic, operational and administrative aspects of the business. Before joining AB, she was the chief operating officer and head of operational due diligence at Gapstow Capital Partners, an alternative investment advisor. Prior to that, Kocher was an operational due diligence analyst at Barclays Wealth Americas and Barclays Global Investors. She began her career as an auditor at Ernst & Young. Kocher holds a BBA and MPA from the University of Texas at Austin. She is a CPA charterholder. Location: Austin

ORIGINATIONS

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  • Jay Ramakrishnan
    Jay Ramakrishnan
    Managing Director—AB Private Credit Investors
    Jay Ramakrishnan joined AB in 2014 as a founding member and Managing Director for AB Private Credit Investors, where she is responsible for originations, asset selection and structuring across a variety of industries, as well as execution, portfolio management and broader business development. In addition to her general coverage and investment responsibilities, she leads the team’s investments in healthcare and healthcare IT. Ramakrishnan was previously a managing director with Barclays Private Credit Partners, where she held a similar role and, as a founding member of the business, was involved in various initiatives, including fund-raising and business launch. Prior to joining Barclays in 2007, she was a vice president at Goldman Sachs and worked in the Specialty Lending Group, where she was responsible for originations, execution, portfolio management and helping to develop the healthcare investing franchise. Prior to that, Ramakrishnan was at Goldman Sachs in London, where she oversaw a European leveraged-loan portfolio and gained experience in managing restructurings. She was previously in investment banking at Goldman Sachs and Bear Stearns, and started her career as an associate consultant for Bain & Company. Ramakrishnan holds a BA (Hons) in economics from Cambridge University and an MBA from the University of Pennsylvania’s Wharton School of Business. Location: New York
  • Patrick Fear
    Patrick Fear
    Managing Director—AB Private Credit Investors
    Patrick Fear joined AB in 2014 as a founding member and Managing Director at AB Private Credit Investors, where he is responsible for originations, asset selection and structuring across a variety of industries, as well as execution, portfolio management and broader business development. In addition to his general coverage and investment responsibilities, he leads the team’s investments in communications/IT infrastructure and services. Fear was previously a director at Barclays Private Credit Partners, where he held a similar role. Prior to that, he was a director with CapitalSource in the US and Europe. Fear was a founding member of the senior management team of CapitalSource Europe, responsible for sourcing, executing and monitoring a $500 million portfolio of middle-market mezzanine and other leveraged loans in a variety of industries. Before that, he was a vice president focused on M&A advisory at Robert W. Baird in London and Chicago. Fear began his career in transaction services at PricewaterhouseCoopers. He holds a BBA in accounting from the University of Notre Dame and is a CPA. Location: Austin
  • Robert Bielinski
    Robert Bielinski
    Managing Director—AB Private Credit Investors
    Robert.Bielinski@abglobal.com
    312.696.7828
    Bob Bielinski joined AB in 2015 as a Managing Director of AB Private Credit Investors, where he leads the team’s investments in the restaurant, retail and franchising industries. Bielinski was previously a managing director with CIT Group where he led the restaurant industry practice within Corporate Finance for seven years. At CIT, he focused on middle-market lending to restaurant and retail companies, with an emphasis on private equity owned businesses. Prior to CIT, he was a managing director with Challenger Capital Group, a middle-market investment bank. Before that, Bielinski was a managing director with Richard C. Breeden & Co., an advisory firm headed by a former chairman of the U.S. Securities and Exchange Commission. His investment banking experience includes seven years at Lehman Brothers where he began his career. In the restaurant and retail industries, Bielinski has held a variety of senior financial positions, including Senior Vice President – Finance and Treasurer at Boston Chicken Inc. and Vice President – Financial Operations at The Limited. Bielinski holds BS degrees in electrical engineering and management from Massachusetts Institute of Technology (MIT) and an MBA from the Kellogg School of Management at Northwestern University. Location: Chicago.
  • Michael Cassetta
    Michael Cassetta
    Managing Director—AB Private Credit Investors
    Michael Cassetta joined AB in 2017 as a Managing Director of AB Private Credit Investors, where he is responsible for non-sponsor originations, asset selection and structuring across a variety of industries, as well as execution and portfolio management. Previously, he was managing director at Gordon Brothers Finance Company, where he sourced, structured and executed middle market financings with a generalist orientation. Before that, Cassetta was a portfolio manager at Citadel Investment Group, where he managed a multi-strategy portfolio. And prior to that, he was an associate at both Davidson Kempner and Heartland Industrial Partners. Cassetta began his career as an analyst at JPMorgan Chase in the Financial Sponsors Group. He holds a BS (summa cum laude) in accounting from Bentley University and an MBA (with honors) from Harvard Business School. Location: New York
  • Patrick Gimlett
    Patrick Gimlett
    Director—AB Private Credit Investors
    Patrick Gimlett joined AB in 2015 and is a Director at AB Private Credit Investors, where he is responsible for originations, asset selection and structuring across a variety of industries, as well as execution and portfolio management. In addition, he leads the team’s investments in energy. Gimlett was previously a vice president with GE Capital’s Energy Financial Services Group, where he originated investments in the oil and gas and midstream industries. His experience at GE Capital also included several years of underwriting and portfolio management. Gimlett holds a BBA in finance from the University of Notre Dame. Location: Houston
  • Leon Han
    Leon Han
    Director—AB Private Credit Investors
    Leon Han joined AB in 2016 as a Director with AB Private Credit Investors, where he is responsible for originations, asset selection and structuring across a variety of industries, as well as execution and portfolio management. He was previously a managing director with Fifth Street Asset Management’s Technology & Venture Lending Group, where he originated investments in venture debt and middle-market commitments. Han’s experience at prior firms, such as ORIX, included several years of underwriting and portfolio management. He holds a BA in economics from Washington University in St. Louis and an MBA from the Kellogg School of Management at Northwestern University. Location: San Francisco
  • Glenn Kim
    Glenn Kim
    Managing Director—AB Private Credit Investors
    Glenn Kim joined AB in 2017 as a Managing Director of AB Private Credit Investors, where he is responsible for sponsor originations, asset selection and structuring across a variety of industries. Previously, he was managing director at Fifth Street Asset Management, where he invested in sponsor-led middle market financings, primarily in the technology and tech-enabled business services sector. Before that, Kim was a senior advisor to TPG Specialty Lending Group and a principal at York Street Capital Partners, where he invested in senior notes, mezzanine and equity co-investments in support of buyouts and acquisitions. He began his career as an associate at Prudential Capital Group and at Cherokee Investment Partners. Kim also served as a Captain in the United States Army, where he held a variety of leadership positions and was deployed on numerous training and humanitarian relief missions. He holds a BS (Dean’s List) in mathematical economics from the United States Military Academy at West Point and an MBA from Duke University. Location: New York
  • Drew Miller
    Drew Miller
    Director—AB Private Credit Investors
    Drew Miller joined AB in 2015 as a Director at AB Private Credit Investors, where he is responsible for originations, asset selection and structuring across a variety of industries, as well as execution and portfolio management. He was previously a VP in GE Capital’s Sponsor Finance Group, where he originated investments in the technology and media industries. Miller’s experience at GE Capital also included several years of underwriting, portfolio management and debt restructuring. Prior to joining GE Capital in 2004, he worked for KPMG. Miller holds a BA in international relations from the University of Memphis and a MAcc from the University of Southern California. Location: Austin
  • Hardeep Saini
    Hardeep Saini
    Managing Director—AB Private Credit Investors
    Hardeep Saini joined AB in 2015 as a Managing Director for AB Private Credit Investors, where he is responsible for originations, asset selection and structuring across a variety of industries, including the equipment loans and leases space, as well as for execution and portfolio management. He was previously a managing director at ICON, where he held a similar role. Prior to joining ICON in 2008, Saini worked for SMBC Capital Markets. He holds a BEng in computer science from the University of Mumbai and an MBA in finance from the Zicklin School of Business at Baruch College. Location: New York
  • Daniel Weiss
    Daniel Weiss
    Director—AB Private Credit Investors
    Daniel Weiss joined AB in 2016 as a Director of AB Private Credit Investors, responsible for originations, asset selection and structuring across a variety of industries, as well as execution and portfolio management. Previously, he was a vice president at Cerberus Capital Management, responsible for origination, underwriting and portfolio management for a broad range of private finance transactions. Prior to that, Weiss was a managing director at MFC Capital Funding, where he was a member of the firm’s investment committee and responsible for sourcing and executing debt investments. Before that, he worked in private equity for the State of Wisconsin Investment Board and for Pfingsten Partners. Weiss began his career as an analyst at NationsBank. He holds a BS in business from Tulane University and an MBA from the Kellogg School of Management at Northwestern University. Location: Chicago

UNDERWRITING AND EXECUTION

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  • Shishir Agrawal
    Shishir Agrawal
    Managing Director—AB Private Credit Investors
    Shishir Agrawal joined AB in 2014 as a founding member and Director at AB Private Credit Investors, where he leads the structuring, underwriting and execution, and portfolio management of the firm’s investments in software, software as a service and other related sectors. He previously held the same role with Barclays Private Credit Partners, having first joined Barclays as an associate in the US Leveraged Finance Group. Prior to that, Agrawal was a group marketing manager and head of product management for clustering and high-availability products at Sun Microsystems. He holds a BTech in computer science and engineering from the Indian Institute of Technology Bombay, an MS in computer science from The Ohio State University, and an MBA in finance and accounting from the University of Chicago Booth School of Business. Location: Austin
  • Kevin Alexander
    Kevin Alexander
    Managing Director—AB Private Credit Investors
    Kevin Alexander is a Managing Director for AB Private Credit Investors, responsible for leading structuring, underwriting and execution, and portfolio management. Before joining AB in 2015, he was a director at ORIX, where he held a similar role. Prior to that, Alexander was a senior research analyst with Plainfield Asset Management, and an analyst with both The D.E. Shaw Group and Merrill Lynch. He holds a BBA (Hons) in financial consulting from Southern Methodist University, and an MBA in finance and economics from the University of Chicago Booth School of Business. Location: Austin
  • Evan Cohen
    Evan Cohen
    Managing Director—AB Private Credit Investors
    Evan Cohen joined AB in 2015 as a Director at AB Private Credit Investors, where he is a leader in structuring, underwriting and execution, and portfolio management. He was previously a vice president in Goldman Sachs’ Specialty Lending Group, where he held a similar role. Prior to that, Cohen was a financial analyst in the Investment Management division at Goldman Sachs. He holds a BBA (Hons) in finance from the University of Texas at Austin, and is a CFA charterholder. Location: Austin
  • Justin Grimm
    Justin Grimm
    Managing Director—AB Private Credit Investors
    Justin Grimm joined AB in 2015 as a Director of AB Private Credit Investors, where he is a leader in structuring, underwriting and execution, and portfolio management. Grimm was previously a VP with GE Capital, where he held a similar role. Prior to that, he was a senior mechanical design engineer with Motorola, Inc. He holds a BS in mechanical engineering from Tulane University, and an MBA from Cornell University’s Johnson Graduate School of Management. Location: Austin
  • David Foshager
    David Foshager
    Vice President—AB Private Credit Investors
    David Foshager joined AB in 2016 as a Vice President with AB Private Credit Investors, where he is involved in structuring, underwriting and execution, and portfolio management. Previously, he was a vice president at GE Capital. Prior to joining GE Capital, Foshager worked for M&I Bank in correspondent banking. He holds a BBA in finance from the University of Wisconsin, Oshkosh, and an MBA from Arizona State University. Location: Austin
  • Rohit Gandhi
    Rohit Gandhi
    Vice President—AB Private Credit Investors
    512.721.2961
    R.Gandhi@abglobal.com
    Rohit Gandhi joined AB in 2016 as a Vice President with AB Private Credit Investors, where he is involved in structuring, underwriting and execution, and portfolio management. He was formerly a vice president with Yukon Partners, a mezzanine investment fund, as well as an analyst in Wells Fargo’s Middle Market Investment Banking Group. Gandhi holds a BA in economics and accounting from Guilford College. Location: Austin
  • Andrew Izzo
    Andrew Izzo
    Vice President—AB Private Credit Investors
    Andrew Izzo joined AB in 2014 and is a Vice President at AB Private Credit Investors, where he is involved in structuring, underwriting and execution, and portfolio management. He was formerly an analyst in the Leveraged Finance Group at Deutsche Bank. Izzo holds a BA in economics from Princeton University. Location: Austin
  • Sean Kennedy
    Sean Kennedy
    Vice President—AB Private Credit Investors
    Sean Kennedy is a Vice President with AB Private Credit Investors, where he is involved in structuring, underwriting and execution, and portfolio management. He joined AB Private Credit Investors in 2014 as an associate. Kennedy was formerly an associate in the Fixed Income Global Credit Research Group at AB. Prior to that, he was an associate in the Asset and Principal Finance Group at Nomura Securities. Kennedy holds a BS in business administration from Carnegie Mellon University. Location: Austin
  • Christopher Lanshe
    Christopher Lanshe
    Vice President—AB Private Credit Investors
    Chris Lanshe joined AB in 2016 as a Vice President with AB Private Credit Investors, where he is involved in structuring, underwriting and execution, and portfolio management. He was formerly a vice president with Fifth Street Asset Management, where he held a similar role with a focus on software and healthcare. Prior to Fifth Street, Lanshe worked for Ranch Capital, a lower-middle-market private equity firm, and L.E.K. Consulting, a management-consulting firm. He holds a BS in finance from Brigham Young University and an MBA, with honors, from The University of Chicago Booth School of Business. Location: Austin
  • Casey Millsaps
    Casey Millsaps
    Vice President—AB Private Credit Investors
    Casey Millsaps joined AB in 2015 as a Vice President at AB Private Credit Investors, where she is involved in structuring, underwriting and execution, and portfolio management. She was formerly an associate director with ORIX as well as an associate in the Corporate Debt Products Group at Bank of America Merrill Lynch. Millsaps holds a BS in business administration and finance from Texas A&M University. Location: Austin
  • Laura Zengilowski
    Laura Zengilowski
    Vice President—AB Private Credit Investors
    Laura Zengilowski joined AB in 2015 as a Vice President at AB Private Credit Investors, where she is involved in structuring, underwriting and execution, and portfolio management. She was formerly a senior associate with Falcon Investment Advisors, and an analyst in Deutsche Bank’s Leveraged Finance Group. Zengilowski holds a BS in business administration, accounting and politics from Washington and Lee University. Location: Austin