MidOcean Partners, a middle market private equity firm, has appointed Steve Shenfeld as president of its newly-formed credit partners unit, where he will be responsible for building out
MidOcean Partners, a middle market private equity firm, has appointed Steve Shenfeld as president of its newly-formed credit partners unit, where he will be responsible for building out a credit investment platform focused on middle market opportunities.
Prior to joining MidOcean, Shenfeld (pictured) managed a private equity fund for MD Sass, and previously was a general partner with Avenue Capital Group where he invested in a range of high yield and distressed debt strategies.
Shenfeld has also worked at BancBoston Robertson Stephens as a managing director and group head for high yield capital markets and trading and was a partner at Bankers Trust where he worked with Ted Virtue, MidOcean’s chief executive, and several other members of the MidOcean team.
Shenfeld says: "I’m excited to rejoin Ted Virtue and my other longtime colleagues at MidOcean, with whom I successfully worked in the past to build a leading credit platform, particularly at a time of unprecedented market opportunity. The synergies generated by our shared focus on fundamental investing, deep network of middle market and industry contacts and enhanced information flow make this a perfect fit."
Joining Shenfeld at MidOcean are Mike Apfel, managing director, and Jim Wiant, principal, who previously worked together at Deerfield Capital where they were responsible for building and managing Deerfield’s middle market debt business.
"We believe that the dislocation in the credit markets will continue to bring great opportunities to deliver strong risk-adjusted returns to our investors. I am delighted to partner with this world class team of debt professionals on this initiative. I have had a long relationship with Steve and his team and hold each of them in such high regard," says Virtue. "Information flow is the key to successful investing and by leveraging MidOcean’s focused relationships in the middle market, this should be a very complementary network for our investors."
