NXT Capital has brought on board a former senior vice president of Pathway Capital Management lead the firm in its dash for cash, the company said last week.
Linda Chaffin will manage the firm’s fundraising and investor relations work as the head of institutional marketing, according to a statement. She will partner with Kelli O’Connell, NXT’s head of asset management.
Chaffin will oversee capital raising for pooled investment funds and separately managed accounts. Her work will also include building relationships with insurance companies, pension plans, foundations, endowments, limited partners and consultants.
NXT finished raising its latest investment vehicle, Senior Loan Fund IV, in September, holding a final close at $912 million, as Private Debt Investor exclusively reported. The fund consisted of $312 million in limited partner contributions and a $600 million credit facility from Wells Fargo. The Teachers’ Retirement System of the State of Illinois made up almost half of the equity commitments with its $150 million allocation.
Most recently, Chaffin engaged in similar work as an SVP for Pathway Capital Management, where she oversaw fundraising and developed the firm’s investor relationships for private equity and private debt. She has also held positions at Marwit Capital, GE Capital and JPMorgan.
“It is of paramount importance to work with products I believe in,” Chaffin said in a statement. “The combination of NXT’s experienced and cohesive team and strong investment performance along with the compelling nature of middle-market private debt for institutional investors makes NXT the ideal opportunity.”
The investment firm provides structured finance to mid-market and emerging growth companies. NXT is led by former principals of Merrill Lynch Capital and Heller Financial.
The firm’s asset management group has $6.6 billion in loans under management, according to its website.