Twin Brook to hire New York Life vet – exclusive

The new hire’s responsibilities at his old shop included portfolio management and underwriting.

Twin Brook Capital Partners is set to build out its underwriting team with the addition of Timothy Schifer, who worked with Twin Brook founders Trevor Clark and Chris Williams prior to the establishment of their current firm.

Schifer is set to join the Chicago-based firm, which is Angelo Gordon’s lower mid-market lending arm, according to a source familiar with the situation. He is joining from Madison Capital Funding, the mid-market lending arm of New York Life Insurance Company, which Clark and Williams founded in 2001.

The new face at Twin Brook, which declined to comment on the hire, joined Madison in January 2003, according to his biography on Madison’s website. He spent more than a decade with Clark and Williams before the pair left Madison in September 2013, according to media reports. The two men found a new home at Angelo Gordon, where Twin Brook was launched in September 2014.

At Madison, Schifer most recently served as a senior portfolio manager for its loan book. Previous duties included leading an underwriting team along with business origination and development and maintaining sponsor-client relationships. Before joining Madison, Schifer spend time at Mercantile Bank, which is now known as US Bank, and LaSalle Bank, which is now Bank of America.

The hire comes as Twin Brook has raised a significant amount of capital, pulling in at least $2.3 billion for its second commingled direct lending fund and separate accounts, as Private Debt Investor exclusively reported in May. 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.

Twin Brook 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 an array of debt types, which include first lien senior secured, second lien and unitranche.