A Credit Suisse MD left for a debt fund
Adam Forchheimer, a managing director in Credit Suisse's leveraged finance division, has left Credit Suisse after 14 years for a New York-based debt fund, Owl Rock Capital.
Forchheimer was a managing director for leveraged finance capital markets and the head of the U.S. portfolio at Credit Suisse. He joined Owl Rock's New York office earlier this month.
Founded in 2016, Owl Rock Capital Corporation is a speciality finance company focused on lending to the U.S. middle-market companies. As of March 2019, it had investments in 81 portfolio companies aggregating to $6.8 billion. The company filed for an IPO earlier this month.
Forchheimer started his career as a corporate associate at Cravath, Swaine & Moore LLP in 2002 after graduating from Harvard Law School. Three years later, in 2005, he joined Credit Suisse and remained there ever since - until now.
Direct lending funds are all the rage. Goldman Sachs is starting its own private investing arm under new CEO David Solomon. The new division will have around $140bn in assets, making it nearly as big as KKR& Co.
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