Siguler Guff taps MidOcean founding member to lead credit expansion

Michael Apfel has joined Siguler Guff to head the $14 billion firm’s expanding credit offering as managing director and head of credit. In the newly created position, Apfel will oversee Siguler Guff’s credit-related strategies, which include special situations, distressed and other niche credit strategies. The firm said its credit platform now totals $6 billion of committed capital and a track record of approximately 20 years. Apfel previously was a founding member at MidOcean Credit Partners, an alternative credit firm with more than $8 billion in assets under management. He brings with him 30 years of credit-related portfolio management, origination and underwriting experience. Earlier this month, MidOcean announced its tenth CLO and first one to include ESG parameters – MidOcean Credit CLO X. “Siguler Guff is truly a differentiated firm and I am honored to lead its credit platform into this next phase of growth,” said Apfel in a statement. “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.” Drew Guff, managing director and founding partner of Siguler Guff, said Apfel’s skillset and vision are a perfect fit for the firm as officials leverage the existing platform to capitalize on new credit-related market segments. Prior to joining MidOcean in 2009, Apfel was at credit hedge fund Deerfield Capital Management, where he was a managing director and senior portfolio manager. Prior to Deerfield, he spent 14 years in investment banking focused on originating and executing bank loans, high yield bond and equity transactions.

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