Madison Capital Funding announced Tuesday (14 June) that it has hired Jesal Jobalia as a director in its mid-market originations team. He began working this week in Chicago in what PDI understands to be a new position focused on relationship development and new business origination.
Jobalia (pictured) will be reporting to managing director and head of originations Christopher Taylor.
Jobalia comes to Madison from Golub Capital, where spent two years as a senior vice president with a focus on underwriting senior and unitranche loans in support of private equity-backed buyouts of mid-market companies. Sources say his position at Golub is not being filled following his departure.
A Golub representative declined to comment on any plans to replace Jobalia.
Prior to his role at Golub, he spent two years as vice president in the sponsor leveraged finance unit at Fifth Third Bank. Earlier in his career, Jobalia also held positions at Capital Source, Midwest Mezzanine Funds and A.G. Edwards.
In May, PDI reported that Angelo, Gordon & Co. mid-market direct lending subsidiary Twin Brook Capital Partners had hired two senior originators from Madison. Twin Brook was founded in 2014 by Madison Capital veterans Trevor Clark and Chris Williams and has since hired several Madison professionals including Madison Capital's former healthcare head Faraaz Kamran and underwriting vice president Mike LaBelle .
In June, PDI reported that former Madison senior managing director Devon Russell had been hired by John Hancock to start a direct lending business.
Madison Capital Funding is a division of the New York Life Insurance Company founded in 2001. The firm provides loans to private equity-sponsored mid-market companies and has $8 billion in assets under management. Last year, PDI reported Madison to be in talks to formulate a joint venture with Carlyle Group non-traded BDC Carlyle GMS Finance to focus on the provision of unitranche loans.