New York based Hypatia Capital Group, an investment firm which seeks to back Fortune 1000 companies run by female executives, has plans to sponsor a $100 million to $200 million private debt fund to be formed by Hypatia Capital Finance Corporation (HCFC), a business development corporation (BDC).
Hypatia is seeking a chief investment officer who will be responsible for the fund, according to a job advertisement on LinkedIn.
HCFC will allow the provision of debt solutions to US lower mid-market firms, including first lien, second lien, unitranche and mezzanine debt.
The role, which has 46 applicants so far, will involve formulating and developing the firm’s mid-market fixed income portfolio strategy in conjunction with the chief executive and board of directors.
The successful applicant, who it is preferred currently manage a $100 to $500 million lower mid-market debt portfolio, will also be responsible for hiring and supervising an origination and portfolio management team at Hypatia.
Hypatia had not responded to a request seeking comment at time of going to press.
Hypatia is unique in that its deal strategy focuses on the top female executives of the Fortune 1000 and the mid-market. All of the six team members, as well as three senior advisors, as listed on the firm’s website, are female.
Patricia Lizarraga (pictured), Hypatia’s managing partner and founder, previously worked as a managing director at Credit Agricole Securities New York M&A group. She is also a founding and investment committee member of Sigma SAFI, an asset manager which makes investments in Peru, and has more than $400 million of AUM.
Hypatia’s investment criteria targets companies with more than $5 million of EBITDA and transaction sizes of more than $25 million.