Stuart Aronson, GE Capital’s global head of sponsor finance, who has been overseeing the sales and transition of various GE Capital units, is planning to leave the firm at year-end. He is considering a number of other options at other lending firms, PDI understands.
Several market sources said he could be moving to Varagon Capital Partners, though a Varagon spokeswoman told PDI that isn't the case.*
Aronson and GE Capital declined to comment and it could not yet be learned where he might move.
Aronson has been with GE since 2003 and is based in Westport, Connecticut, according to his LinkedIn profile. He oversaw several divisions at GE Capital, most of which have now been sold.
Antares Capital, the group that works exclusively on sponsor-backed North American transactions, signed an agreement to be sold to the Canada Pension Plan Investment Board (CPPIB) in June, at which point Aronson said he would stay with GE to oversee the sales process and transition of some of the other units.
Antares’ deal with CPPIB closed in August, while part of a commercial finance business that Aronson also oversaw signed a deal to be sold to Wells Fargo last month. Some of the technology, media and telecommunications group that was under Aronson’s purview has also been cut or moved to CPPIB with Antares.
General Electric chief executive Jeff Immelt announced in the spring that the company would be selling most of GE Capital’s lending divisions to streamline the company’s business and avoid regulatory scrutiny.
* This story was updated on 17 November to reflect that Varagon denied the rumour.