Constitution expands new credit team

The US asset manager’s opportunistic debt team is raising a credit fund.

Constitution Capital has brought on two new hires from Morgan Stanley and Silicon Valley Bank for its newly-created credit team, the company said on Wednesday.

The alternative asset manager launched its opportunistic credit strategy earlier this year, hiring a new manager and opening a new office in New York.

Steven Shekane joined the credit team after leading originations and portfolio management as a founding member of Morgan Stanley Credit Partners, according to a statement. He had also held a vice president post at the company’s North America leveraged and acquisition finance group.

Prior to Morgan Stanley, Shekane worked at Banc of America Securities, Paribas and the Federal Reserve Bank of New York. He holds an MBA from Columbia Business School and a bachelor’s degree from University of Pennsylvania.

Jonathan Williams comes to Constitution from his most recent senior associate position at Silicon Valley Bank, where he originated senior debt to growing companies. Williams completed a degree from Trinity College.

“Steve and John each bring a combination of experience, intellectual curiosity and a passion for the mid-market,” Daniel Cahill, a managing partner at Constitution, said in the statement.

The opportunistic credit team invests in senior loans, corporate bonds, mezzanine debt and equity to mid-market companies, according to its website. The firm is also raising a credit-dedicated fund targeting an undisclosed amount, Private Debt Investor’s sister publication Private Equity International reported in February.

The firm has $2.7 billion in assets under management, according to its executive summary.