Antares consolidates California presence in LA – exclusive

The CPPIB-owned lending firm has nixed its San Francisco office in favor of Los Angeles. As a result, some people have left the firm or moved to LA.  

Antares Capital, the US lender acquired by the Canada Pension Plan Investment Board (CPPIB) last year, has combined its California offices into one. The firm now only has a Los Angeles office and has cut San Francisco. As a result, some people have left the firm and others moved to LA with Antares.

Ankur Gupta, formerly senior vice president at Antares in San Francisco, has moved to PNC Business Credit, where he holds the same role, according to his LinkedIn profile. He has been with Antares for seven years as a senior underwriter. At PNC, he now works on asset-based and cash flow loans in the $15 million to $100 million range.

Other staff in the San Francisco office were mostly in junior roles at the analyst or associate level. The total headcount in San Francisco was around 10, PDI understands. Some of these people have moved on to other jobs, left the firm or moved to LA with Antares.

A spokeswoman said the office has been closed for some time and declined further comment.

The Los Angeles office houses eight senior people, including managing directors Rod Bollins, Matthew Fleming, Mary Gaede, Pat Henahan and Bill Kraus. Senior vice presidents Ben Chapin and Dan Landis, and v.p. Jason Quinn are also there. Landes has been with Antares since 2005. He moved to Los Angeles from Chicago recently and heads up due diligence for West Coast origination. Quinn is also an internal transfer. He joined Antares in 2010 and is part of the origination staff in LA, focused on deepening sponsor coverage.

Antares was sold to CPPIB by General Electric in August, along with GE’s sell-off of most of its GE Capital lending business. The firm’s headquarters are in Chicago, while it also has offices in Alpharetta, Georgia; New York, Norwalk, Connecticut, and Toronto.