Man Group has appointed Brian Broesder and Westin Lovy as managing directors based in firm’s Connecticut office.
They are both joining from Bridge Lane Capital, a firm they co-founded in 2012 which specialises in private debt transactions with small and lower middle market companies in North America.
Broesder and Lovy will continue to manage Bridge Lane’s portfolios at Man Group. Bridge Lane currently has over USD125 million in committed capital.
Prior to co-founding Bridge Lane in 2012, Broesder was managing director and portfolio manager at credit manager Whitecap Advisors, which he joined at its inception in 2003.
Broesder’s responsibilities included portfolio management, originations, operations and finance and he was a member of the firm’s investment and valuation committees. Before joining Whitecap, he was an investment banker focused on corporate finance and M&A for emerging growth companies at Investec, and also held positions at Fleet Bank (formerly Robertson Stephens) and UBS (formerly PaineWebber).
Prior to co-founding Bridge Lane alongside Broesder, Lovy was managing director and head of risk management at Whitecap Advisors, where he oversaw risk, compliance, legal and workouts as well as serving as a member of the investment and valuation committees. Before this, Lovy was an insolvency lawyer at Latham & Watkins in New York.
The senior hires support Man Group’s continued focus on expanding and diversifying its offering for clients, including building a private markets business offering exposure to longer duration capital products, as well as growing operations in the US. In the past two years, Man Group has also expanded in the US through the strategic acquisitions of US-based firms Numeric Investors, Silvermine Capital Management and Pine Grove.
Jonathan Sorrell, president of Man Group, says: “I am delighted to welcome Brian and Westin to Man Group. Their appointments are demonstrative of our business strategy to explore new and complementary ways to leverage our combined resources across the firm. As proven managers in the private debt space, their deep experience and understanding of the market will be of great value to the firm as we continue to develop and broaden our business, enhancing our offering for clients.”
Broesder says: “Man Group’s first class infrastructure and global reach provide a compelling opportunity for us to enhance our client offering and build upon our experience at Bridge Lane. The ability to manage our portfolios in our own style, while benefitting from Man Group’s scale and institutional framework is, for us, truly a best of both worlds scenario.”
Lovy says: “We are excited to join Man Group and to have the opportunity to benefit from the firm’s support and diverse expertise as we continue to serve our clients. We look forward to working with Man Group’s management team to grow and develop our offering and portfolios.”
