Greenwich, Conn.-based Strategic Value Partners (SVP Global) hired ex-Beach Point executive Brian Himot to lead the firm’s structured credit business.
As Head of Structured Capital, Himot will lead mezzanine and structured equity investing at the $18 billion firm. He will also serve on SVP Global’s Management Council.
The firm since 2001 has been active in providing Debtor-in-Possession (DIP) loans and rescue financing, but with the addition of Himot the plan is to broaden out the effort to provide a range of solutions to businesses in need of capital, officials said. The firm is building a five-to-six-person Structured Capital team over the next six months.
“We have participated in DIPs and rescue financings for many years and, more recently, have been further developing our skills to take advantage of the growing opportunity in mezzanine financing, transitional capital and preferred equity,” said SVPGlobal Founder and Chief Investment Officer Victor Khosla in a statement. “With Brian leading and building out our Structured Capital team, we are well-positioned to move quickly to underwrite financings that generate attractive risk-adjusted returns.”
For the last 12 years, Himot has been at $17 billion Beach Point Capital, where he was a partner and portfolio manager, co-leading the private credit business. He focused on mezzanine debt, transitional capital and preferred equity at Beach Point. Prior to Beach Point he was a vice president at Banc of America Securities in the New Product Development Group.
“I am thrilled to join the SVPGlobal team with their extensive industry knowledge and deep relationships,” said Himot in a statement. “I look forward to building out the team in the U.S. and Europe to further capitalize on SVPGlobal’s capabilities in mezzanine and structured equity.”
