Grady Frank joined GoldenTree Asset Management as head of private credit origination, bringing with him 20 years of leveraged finance expertise.
In recent years, GoldenTree has made over $3 billion in private credit investments, which is an investment strategy officials at the $47 billion firm expect will expand in years to come.
“We have a long history of working collaboratively with management teams and private equity sponsors to help companies achieve their objectives while creating attractive investments for our funds,” said Steve Tananbaum, founding partner and CIO of GoldenTree. “The opportunity set in private credit has been expanding in recent years and we are confident that Grady’s significant experience will allow us to accelerate our sourcing and structuring opportunities while offering compelling risk-adjusted return potential for our investors.”
Frank had been a managing director at Goldman Sachs and a senior member of the Financial and Strategic Investors Group.
GoldenTree’s focus on private credit has been across industries and geographies, according to Lee Kruter, partner and head of performing credit at the firm.
“Our nimble approach allows us to commit in size, execute quickly and provide creative solutions, which delivers significant value to issuers and private equity sponsors and differentiates GoldenTree,” Kruter said.
Frank added that he has had many long-standing relationships with the GoldenTree team and he aims to build a “highly responsive, relationship-centric private credit business.”