Permira Credit CEO James Greenwood is to step down from his role after 15 years with the business.
David Hirschmann, currently head of private credit, and Ariadna Stefanescu, current head of liquid credit, have been appointed as interim co-CEOs of the business. Greenwood will stay on as a senior adviser until the end of the year to ensure a smooth transition.
Hirschmann joined Permira Credit in 2015 and played a significant role in growing its direct lending business from an AUM of €1 billion in 2015 to almost €12 billion today. Before joining Permira he was managing director at Babson Capital Europe and also previously held roles at UBS.
Stefanescu joined the business in 2007 and has built up its CLO business with eight CLOs issues since 2018 with more than €3 billion of AUM. She also oversees the firm’s structured credit and multi-strategy credit offerings. Prior to joining Permira she worked at JP Morgan in leveraged finance and high yield capital markets.
The business is currently plotting a succession plan and expects to be able to confirm details in January 2024.