Antares names two new group heads following departure of senior MD

Antares Capital has appointed two new division heads, both of whom are veterans of the Chicago-based firm, the mid-market lender announced on Monday.

Timothy Lyne is now the co-head of sponsor coverage and will be responsible for that strategy on the East Coast. He worked on the firm’s West Coast sponsor coverage for 15 years, from 1996 to 2011.

Vivek Mathew has become the head of asset management and funding, Antares arm that oversees third-party capital.

Lyne, a founding partner of the firm, previously held the role Mathew is stepping into. Lyne’s appointment comes after the departure of senior managing director Chet Zara, who left the firm in Chicago.

The asset management division collected over $3 billion in commitments while Lyne led the group, including a $1 billion separate account with the Virginia Retirement System in November. Other commitments include $200 million from South Korean investors, according to news reports, and a $153 million commitment from Texas County & District Retirement System to invest in unitranche loans.

Aside from its outside allocations, Antares also invests capital from the balance sheet of Canada Pension Plan Investment Board, which acquired Antares in 2015 at a deal valued at $12 billion.

Mathew was the head of structured products, a role he will retain as he assumes his duties overseeing the asset management group. As the head of structured products, he helped relaunch Antares’ collateralised loan obligation management operations. Last year, the firm completed two mid-market CLO deals, a $2.1 billion transaction that closed in May and a $1.2 billion deal priced in November.

Editor’s note: Antares’ second CLO of 2017 was $1.2 billion, not a $806.75 million transaction.