Franklin Square has hired Marc Yaklofsky as senior vice president of corporate development. The position is a new one, a spokeswoman told PDI.
Yaklofsky will lead business development and strategic initiatives, while improving Franklin Square’s stakeholder communication efforts.
Yaklofsky was previously a managing director and head of stakeholder relations in the office of the chief executive for Nomura Holding America, where he oversaw messaging to Nomura’s stakeholder groups, including equity and debt investors, rating agencies, clients and trading counterparties. Yaklofsky spent nearly six years at Nomura before joining Franklin Square. Prior to Nomura, he worked in similar roles at Merrill Lynch, Fitch Ratings and the Federal Reserve Bank of New York.
“Marc has extensive experience in business development and stakeholder relations, and is an excellent addition to our team,” said Michael Gerber, executive vice president of Franklin Square. “As we have grown as a firm, so too have our opportunities to execute on strategic initiatives, and we look forward to Marc helping us continue our growth.”
Franklin Square runs a variety of alternative credit funds. The firm has $17 billion in assets under management, $15.7 billion of which is in business development company (BDC) assets, making it the largest manager of private and public BDCs combined.
Philadelphia-based Franklin Square runs administration and fund raising on the FSIC (Franklin Square Investment Corporation) BDCs, while Blackstone-owned GSO Capital Partners sub-advises the vehicles and oversees origination and investment strategy.