Stellus Capital Management has hired a former Nuveen managing director as a senior member of the firm’s private credit team, the company said on Friday.
Douglas Bollermann will join the Texas mid-market investment firm as managing director, according to a statement. Most recently, he was a managing director at Nuveen (formerly TIAA), overseeing private equity, equity co-investments, and junior debt securities.
Previously, Bollermann held positions in the private capital divisions at Banc of America Securities, First Union Securities, Nationsbanc Securities and Chase Securities. He began his career at Andersen Consulting.
Robert Ladd, a manager partner at the firm, said in a statement that Bollermann’s hire is part of the Stellus’ current effort to expand its senior investment team.
Stellus is bullish on the US lower mid-market, executives Josh Davis and Dean D’Angelo told Private Debt Investor in December.
The two Stellus partners added that the types of deals they see in that space are more attractive than those in the upper mid-market or in the broadly syndicated loan market, due to the retreat of banks and syndicated lenders.
Stellus Capital Management is a mid-market lender with $1.3 billion of assets under management as of 31 December across both private credit and energy private equity, according to the statement. The firm spun out of the Direct Capital Unit of the D. E. Shaw group in 2012.