Aperture Investors has appointed Nick Turgeon as global head of asset-based finance, as it launches its asset-based finance investment strategy.
The portfolio manager role is newly created, and Aperture launches with seed capital from Generali Investments, the asset management arm of Generali Group, according to a statement from the company. Aperture is targeting an initial portfolio size of $1 billion, according to a statement from the company.
Built around flexible capital that can grow alongside leading originators, the strategy will seek asset-based opportunities in North America first, then add European credit markets, eventually, Aperture said.
"Aperture offers the right foundation to build a focused asset-based finance strategy at a time when traditional lenders are retrenching and financing needs are becoming more nuanced," according to Turgeon's statement.
Turgeon joins Aperture from Castlelake, a global alternative investment firm, where he was a managing director. Previously, he was at U.S. Bank, where he managed private equity sponsor transactions, according to the company.
"Nick brings the right experience to lead effort, and his appointment reflects our broader commitment to expanding in segments of the private credit market where flexible, well-underwritten capital is in demand."
