Monomoy Capital hires new head of credit

David Robbins, former managing director at HIG Bayside, will lead on investing in underperforming companies through debt.

Special situation investor, Monomoy Capital Partners, has hired David Robbins to join the firm as a managing director and head of credit strategies, the firm announced.

Robbins will lead Monomoy’s investments in debt securities of distressed and underperforming businesses.

He brings with him 17 years of experience in principal investing focused on credit opportunities and debt-for-control investments across a number of market segments, and joins from credit specialist HIG Bayside, where he was managing director responsible for leading investments in distressed debt and positioning Bayside to take control of mid-market companies through financial restructurings. Prior to this, he was a senior managing director at GSC Group and co-head of the GSC credit opportunities team.

“We are thrilled to welcome David to the Monomoy team,” Justin Hillenbrand, a founding partner of Monomoy, said in a statement. “We believe that the credit markets will provide attractive opportunities to acquire underperforming middle market businesses in the next business cycle, and David brings the perfect blend of talent, experience and judgment to position Monomoy and its limited partners for continued success in [the] firm’s core investment strategy,” he added.

Monomoy targets mid-market businesses with annual revenues of between $100 and $600 million across a wide range of industries.

“Companies in the lower end of the middle market are often under-managed and over-leveraged, and a focused debt-for-control strategy will expand our ability to acquire those businesses at attractive valuations, improve their profitability and deliver outstanding returns,” Robbins said.

Founded in 2005 by Stephen Presser, Daniel Collin and Hillenbrand, New York-headquartered Monomoy has more than $1 billion in committed capital. During the last ten years, it has acquired more than 40 mid-market companies from a variety of sellers in a wide range of special situations.