Fifth Street Asset Management (FSAM) is adding David Heilbrunn as a managing director and member of its management committee, the Greenwich, Conn.-based company said Thursday.
Effective May 11, he will be responsible for expanding FSAM's structured credit products platform, developing institutional client relationships and optimizing the firm's various financing arrangements.
The role is a newly-created one, an FSAM spokesman told Leveraged Finance News. The firm has over $6 billion of assets under management.Heilbrunn was most recently managing director at The Carlyle Group, where he helped create two non-traded business development companies, raising over $2.2 billion of private equity and debt capital. While at Carlyle, he and his team also managed a $1.25 billion middle market CLO.
Carlyle declined comment regarding a replacement for Heilbrunn.
Overall, he has nearly three decades of experience in institutional business development and structured credit products. He has also held positions at Bear, Stearns and JPMorgan, where he focused on CLOs.
In the company’s statement, FSAM’s CEO and Chairman Leonard Tannenbaum called Heilbrunn “a natural fit for the position.”
"I look forward to having David join the Fifth Street platform to expand and grow our existing structured products offering,” he said. “We expect that David will help us execute on FSAM's strategic vision of continuing to build a leading, diversified credit-focused asset manager."