Jeffrey Knopping has landed at Benefit Street Partners (BSP) after two years at Cowen Group where he helped start the now-disbanded Cowen Finance, the New York-based investment bank's former direct lending platform.
Knopping, who began his position earlier this summer, is a managing director and will originate and structure transactions. He reports to Blair Faulstich, also a managing director and BSP's head of origination.
Before his 2014 to 2016 stint at Cowen, Knopping held several jobs at GE Capital, including chief investment officer of GE Global Sponsor Finance, and at William Blair & Company. His position prior to the Cowen Group was at KCAP Financial, a public BDC where he also worked in origination.
BSP is planning to launch its fourth debt fund in the fall with a $.175 billion target, as PDI previously reported. The vehicle is a follow-up to its Providence Debt Fund III, which raised $1.75 billion smashing its $1 billion target.
Benefit Street declined to comment on fundraising.
The firm is also reported to have reached an agreement to acquire AR Global's BDC, the Business Development Corporation of America, according to the DI Wire.
BSP is an affiliate of Providence Equity Partners, a $45 billion private equity firm. BSP itself has about $12 billion under management.