March 14, 2022
Briarcliffe Credit Partners Hires New Fundraiser
March 14, 2022
NEW YORK, Mar 14 (LPC) – Private credit placement agency Briarcliffe Credit Partners has hired Collis Klarberg as a managing director to lead fundraising for institutional investors in the Midwest and New England, according to a press release.
He joins from First Avenue Partners, another fundraising advisory firm, where he focused extensively on raising private credit funds. He was also a managing director.
"Specialization is critical. Private credit has evolved into a distinct asset class for many institutional investors, no longer a part of a larger fixed-income or private equity bucket," Klarberg said in an interview. "As a result of institutional investors growing more sophisticated, there's a natural need for a placement agency to be specialized in representing private credit GPs."
In direct lending, the most well-known private credit strategy, it can be difficult to tell the difference between two managers, according to Klarberg.
"In a good credit environment, it can be challenging to
differentiate between two senior lenders taking on the same amount of leverage
and providing capital in a similar segment of the market, whether that's size
of company or sector exposure," he said. "With specialized private
credit strategies, the difference in return targets offers a different
risk-reward profile."
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