Golub Capital has hired Michael Meagher and Hyun Chang as managing directors and originators in its New York office. They will work on covering the upper middle-market segment of private equity sponsors. This would be some of the multi-billion dollar firms that Golub is seeing more deal flow from these days.
“As we’ve gotten bigger, we find that we’re increasingly looking at deals with larger sponsors, so we determined that we wanted to have better coverage of those firms to continue to grow with our portfolio companies, move up market and win some larger opportunities,” said Gregory Cashman, a senior managing director at Golub. The new hires will report to Andrew Steuerman, Golub’s head of middle market lending. “These gentlemen increase our ability to serve our upper middle market clients who see the changing competitive and regulatory landscape and seek value-added capital from growing non-bank sources, such as Golub Capital,” Steuerman said.
Meagher and Chang previously covered the upper middle-market private equity firms at banks. Meagher joins from Deutsche Bank, where he spent seven years, most recently as a director in the Financial Sponsors Group. Chang hails from JPMorgan, where he was an executive director in the Financial Sponsors Group.
Golub Capital primarily deals in middle-market lending and has two other lines of business: broadly syndicated loans and opportunistic credit. The firm has $10 billion in capital under management and has grown significantly in the past few years. The middle-market team usually structures debt solutions that involve holding up to $250 million worth of a loan deal. The group also underwrites and syndicates senior credit facilities and a proprietary suite of one-loan debt facilities of up to $500 million. The firm has offices in New York and Chicago.