ICG beefs up direct lending business with new hire

By Daniel Lanyon on Monday 8 May 2017

Alternative Lending

The firm says the expansion of the team reflects ongoing growth opportunities.

The firm says the expansion of the team reflects ongoing growth opportunities. 

Specialist asset management the Intermediate Capital Group (ICG) has appointed Peter Lockhead as a managing director in its direct lending team, effective 1st June.

The firm has seen assets in its direct lending business grow substantially in recent years, reflecting in the hire of Lockhead to the newly created post. He will be reporting to Max Mitchell, head of direct lending at ICG.

Lockhead joins ICG from Avenue Capital where he was portfolio manager and head of direct lending since 2012, and has over 25 years of lending experience.

At ICG, he will be responsible for identifying, analysing and executing investment opportunities for the European direct lending business, which funds have successfully deployed over €4bn of capital since inception in 2013.

Commenting on the appointment, Mitchell said:  “In just five years, we have established a market leading direct lending platform and with the recent addition of an ABL capability, we are constantly evolving our strategy.  Peter joins us at an exciting time as banks continue to retrench from lending, and we will benefit greatly from his experience and deep knowledge of the sector.”

Prior to joining Avenue Capital in 2012, Lockhead was head of sponsor leveraged finance EMEA at Bank of America Merrill Lynch, having first joined their leveraged finance division in 2005.  He also spent five years in Barclays Capital Leveraged Finance team, having started his career with National Westminster Bank in 1991. 

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