Intermediate Capital Group has hired former Blackstone Group managing director Brian Spenner as a managing director of the firm’s North American debt business, the firm announced in a statement Monday. He joins forces with former Blackstone colleague Sal Gentile, who moved to ICG last year to head its North American debt business.
Seth Katzenstein, a former managing director and portfolio manager for Black Diamond Capital Management, has also joined ICG’s North American debt team as a managing director and portfolio manager to run the firm’s US CLO business, a market source told Private Debt Investor.
“Brian and Seth bring the firm a depth of investment experience and relationships throughout the North American debt markets,” said Gentile in a statement. “With the addition of these professionals, ICG is positioned to successfully build a credit platform covering both liquid and private assets.”
Spenner and Gentile were founding members of Blackstone’s corporate debt group, according to ICG’s statement.
A spokesperson for ICG was unavailable for comment. Blackstone had not responded to a request for comment at press time.
ICG has also brought in two new principals to the North American credit team. Michael Sproul, formerly of Blackstone, and Robert Kiesel, formerly of HD Capital, both joined the firm recently.
The new additions double the size of ICG’s North American fledgling private debt investment team, according to the statement. The firm expects to hire more team members as it builds its syndicated loan and liquid strategies platform in the US.
ICG’s mezzanine and equity platform had €4.9 billion in assets under management as of 31 March, according to its website.
ICG operates offices in London, Paris, Madrid, Frankfurt, Amsterdam, Stockholm, Hong Kong, Singapore, Sydney and New York City. The asset management firm was founded in 1989 and has €12.9 billion under management.