Capital Dynamics adds senior director, two senior associates for credit team

The firm is hoping to hold a final close on its debut fund in the second quarter of this year.

Capital Dynamics’ private credit group has made its first three hires after bringing on the two former co-chief investment officers for Credit Suisse’s business development company to launch the strategy last year.

The additions to the Zug, Switzerland-based investment firm consist of Matthew Bandini, formerly of Fifth Street Asset Management, as a senior director, and Jonathan Barokas and Bryan Chen, formerly of Ares Management and 3i, respectively, as senior associates.

A spokeswoman could not be reached for additional comment.

While at Fifth Street – which has since dissolved after selling its two BDCs to Oaktree Capital Management and winding down its hedge fund – Bandini focused on origination, underwriting and the portfolio management of loans to private equity-backed companies. He has also worked at Antares Capital when it was part of GE Capital, Merrill Lynch and CIT.

Barokas previously worked in Ares’ credit group, a position in which he focused on evaluating investments across origination, transaction execution and portfolio management. He has also worked at Wells Fargo.

Chen focused on sourcing and due diligence while at 3i, a lower mid-market private equity firm. He also had previous stints at Lazard Freres, Halycon Asset Management and GE Capital.

The hires come as Capital Dynamics aims to wrap up its $500 million inaugural fund in the second quarter of this year. The alternative lender will primarily target directly originated senior secured loans, including first lien, unitranche and second lien loans, for private equity-sponsored companies in the US lower mid-market, according to its website.

The private equity firm brought on Jens Ernberg and Thomas Hall last summer following the September 2016 sale of Credit Suisse Park View BDC, of which the two men were co-CIOs. Cion Investments, which runs a BDC sub-advised by Apollo Global Management, bought Credit Suisse’s mid-market lending group for $276.9 million.