Varagon Capital Partners, the New York-based lender backed by AIG, has added Charlie Riceman to its origination team, according to sources familiar with the move. Riceman was previously a managing director at Golub Capital in origination where he worked since 2004.
Golub previously announced that it hired Chip Cushman from GE Antares as a managing director in mid-market lending. He is responsible for originating, underwriting, executing and monitoring investments in the New York and Washington, D.C. metro areas. At the time, Golub also moved existing employees Matt Fulk and Craig Palmer to origination from underwriting. These hires and moves were made in anticipation of Riceman’s departure.
Riceman is currently on garden leave and is set to join Varagon soon. Calls to Varagon weren’t returned by time of publication.
Varagon was launched last year with backing from insurer AIG and Oak Hill Capital Partners, the Menlo Park, California-headquartered private equity firm. Business development company Ares Capital Corporation recently announced that it is forming a new joint venture with Varagon, succeeding a previous JV with GE Capital called the Senior Secured Loan Program (SSLP). The new partnership is called the Senior Direct Lending Program (SDLP) and will make senior secured loans to mid-market companies.