KKR made two key hires for its global private credit team based in New York that increase the team’s capabilities within private asset-based finance.
Giacomo Picco was hired as a managing director and charged with a new effort focused on receivables and inventory financing. Stephanie Yeh has joined as managing director with responsibility for co-leading sourcing of ABF investment opportunities in the U.S.
“Giac’s deep background in receivables and inventory financing will help us to build new capabilities in secured lending to corporate borrowers and Stephanie’s expertise in early-stage financing across consumer finance, fintech and other ABF markets increases our connectivity and access to non-traditional opportunities in the ABF market,” said Dan Pietrzak, partner at KKR.
KKR’s global credit business has approximately $165 billion in AUM as of March 31, 2021, including $58 billion within the overall private credit platform.
Previously, Picco was portfolio manager and head of alternative lending and capital solutions at Sound Point Capital where he helped build the firm’s alternative lending business. Prior to that he was co-head of research at KS Management and held roles in leveraged buyouts at The Carlyle Group and in the mergers and acquisitions group at Lazard Frères & Co.
Yeh had been head of early-stage financing at Credit Suisse where, as a managing director, she helped launch the group and expanded the bank’s coverage to early-stage clients across asset classes. Prior to that she was at Goldman Sachs in structured finance and asset-backed securities finance.
The ABF business at KKR now has 35 dedicated investment professionals specializing in asset classes and regions across the world. Since 2016, ABF has invested over $4 billion of capital across 40 investments.