Exclusive: Hayfin hires new MD for UK role

The London-headquartered lender has hired a former leveraged loan banker to focus on the UK market.

Direct lender Hayfin Capital Management has hired Paul Moravek as managing director for UK origination, PDI has learned. He is expected to join this Friday (26 July).

The newly created position will support Hayfin’s expansion across Europe including plans to build its team.

“As a leading European direct lender Hayfin remains committed to providing financing for middle market companies and growing our lending presence across Europe. Paul is a very experienced leveraged credit professional and we are delighted he is joining us to enhance our already strong coverage of the UK market,” Andrew McCullagh, head of origination, said in an emailed statement.

Moravek (pictured) was a senior member of the European leveraged finance team at Bank of America Merrill Lynch, where he spent nine years focusing on the origination and execution of financial sponsor and corporate loan and high yield bond financings. Prior to this, he worked on the leveraged finance team at JPMorgan Chase between 1999 and 2004.

More recently, Moravek co-founded UK-based online investment platform Venture Founders, which he will remain an advisor to, PDI understands.

Since its founding in 2009, Hayfin has opened offices in London, Amsterdam, Frankfurt, Madrid, New York and Paris and grown its assets under management to €6 billion.

Moravek joins the firm as it undergoes a number of changes including a recapitalisation and a reshuffle in ownership, the news of which emerged in May. Senior management increased its stake in the business, while the other owners TowerBrook Capital Partners, Public Sector Pension Investment Board (PSP Investments), The Ontario Municipal Employees Retirement System (OMERS) and The Future Fund, an Australian sovereign wealth manager, reduced their stakes.

The deal was facilitated through the sale of €705 million of owned assets to The Future Fund. Hayfin will become a third party manager of funds solely, as a result.

Three managing directors have departed since including Jeff Sockwell, who helped establish the firm’s origination business. Sockwell remains an advisor to Hayfin. Paul Levy and Rinaldo Olivari have also recently parted ways with firm.