Twin Brook appoints new CFO

Vishal Sheth’s promotion comes as the lender also hired a former director at Madison Capital.

Twin Brook Capital Partners has promoted Vishal Sheth, a director of finance and accounting at its parent company, Angelo Gordon, to be the mid-market lender’s chief financial officer, the firm said on Wednesday.

Sheth will be based in the firm’s Chicago headquarters, according to a statement. Prior to his new post, Sheth had led AG’s business development, financial planning and management reporting division, while he also developed accounting for Twin Brook. Prior to joining AG in 2014, he worked at Fortress Investment Group and PricewaterhouseCoopers.

The firm also announced the hiring of Timothy Schifer, the former director of portfolio management at Madison Capital Funding, who joins Twin Brook as a managing director focused on underwriting and portfolio management, as Private Debt Investor previously reported.

During his 14 years at Madison Capital, Schifer managed the firm’s loan and investment portfolio as well as business- and sponsor-client relationships. Previously, he worked at Mercantile Bank and LaSalle Bank.

Schifer’s hire and Sheth’s promotion to CFO comes after Twin Brook pulled in at least $2.3 billion for its second commingled direct lending fund and separate accounts earlier this year. That sum is more than double the amount of capital Twin Brook managed when the firm closed its initial fund in May 2016. At that time, the firm oversaw $900 million, also split between a commingled fund and separate accounts.

“Tim brings over 25 years of middle market lending experience to our team and Vishal has been instrumental in our business from the beginning,” Chris Williams, co-head at Twin Brook, wrote to PDI in an email. 

The firm invests in companies in transactions involving a private equity sponsor with companies that have EBITDA between $3 million and $50 million, with a focus on those with $25 million and under. The firm lends first lien senior secured, second lien and unitranche.

“We are very pleased with the current opportunity set in the lower middle market,” Williams added. “We continue to be highly selective in terms of the companies we are ultimately putting in to our portfolio.”