3iDM hires new portfolio manager

Michael Curtis will lead some of the firm’s CLO strategies, a spokesperson told Private Debt Investor. 

3i Debt Management has hired Michael Curtis of Alpstar Capital to lead some of the firm’s CLO strategies, the firm announced in a statement Tuesday.

Curtis had worked at Alpstar since 2004, where he specialised in senior secured loans, high yield bonds, CDS, mezzanine, distressed debt, public and private equity strategies. He also led two CLOs, credit funds and separately managed accounts on behalf of Alpstar’s investors, according to a statement. Curtis previously held a position on CIBC World Markets’ leveraged finance team. 

“He's worked across the products that we offer investors, i.e. senior secured loans, mezzanine, private equity etc.,” a 3iDM spokesperson told Private Debt Investor in an email. “In particular, he managed two CLOs at Alpstar and he will be managing some of our CLOs, so there's a clear overlap of experience there.”

Curtis spent his first day with the firm on Monday. 3iDM declined to disclose which of the firm’s CLOs Curtis would manage.

3iDM closed its debut European CLO on €310 million in September. The CLO, known as Harvest VII, will invest in in senior secured loans backing private equity buyouts in Europe. The fund includes €268 million across five classes of investment grade debt and €42 million in subordinated notes, according to a September statement announcing the close.

In addition to its European CLO business, 3iDM closed two US CLOs last year. The latest, Jamestown CLO III, will invest in corporate debt and senior secured loans backing private equity-led buyouts.