NEPC’s Haq moves to MC Credit – exclusive

The research consultant, who looked after direct lending and other private credit strategies at the US consulting firm, has taken up a role at a private debt asset manager.

Siddique Haq, a research consultant at NEPC, who mostly worked on direct lending and private credit strategies, has left the firm to join MC Credit Partners (MCCP). Haq was part of the private markets research group at the Boston-based US consulting firm, where about seven people work on private credit research specifically.

Oliver Fadly, a senior research analyst in that group, is taking over Haq’s responsibilities, Neil Sheth, head of alternatives research at NEPC, told PDI. Haq has been with NEPC since 2008, when he joined as a performance analyst in private markets, according to his LinkedIn profile.

At MCCP, Haq is taking on a new role helping the firm raise money from institutional investors. Michael Zimmerman, senior managing director at MCCP, said Haq is a good fit for the position given his relationships with institutions from NEPC and knowledge of credit strategies.

MCCP closed its first fund at $1 billion in late 2014. Most of the first fund was focused on non-sponsored deals while the second fund, which the firm intends to launch soon, will have more of a balance between sponsored and non-sponsored transactions, Zimmerman said. The second fund will also play more in the second lien space, while the first fund focused on mostly first lien loans.

Stamford, Connecticut-based MCCP provides debt financing to companies for growth, expansion/acquisitions, refinancing and recapitalisations. Ashok Nayyar leads the firm as senior managing director and chief investment officer. He was previously founder and senior managing director at Cyan Partners. Before that, he held leveraged finance roles at Morgan Stanley and Citigroup.

NEPC advises a range of institutional investors in the US and has over $900 billion in assets under advisement. The firm has been recommending niche private debt strategies to its clients lately and has placed over $3 billion in the asset class over the past several years.