Octagon Credit builds out private credit capabilities with two hires

Octagon Credit Investors has expanded its private credit capabilities with the appointment of Sean Sullivan as managing director and head of private credit, from Morgan Stanley Investment Management.

Michael Ahrens, who most recently served as senior vice president at Antares Capital, will join as principal on 22 September.

The two strategic hires mark the formation of a dedicated team, as Octagon builds out its private credit business, which focuses on senior secured loans to upper middle-market corporate borrowers.

Sullivan will also serve on the firm’s private credit investment committee and its executive committee.

At Morgan Stanley IM, he served as the head of direct lending origination and sat on investment committees for the Direct Lending and Opportunistic Credit strategies.

Sullivan previously held senior roles at Antares Capital, Solar Capital and GE Capital.

“The evolution and convergence of the broadly syndicated loan and private credit markets continue to present compelling opportunities for seasoned credit managers,” said Gretchen Lam, chief executive of Octagon.

“Direct lending is a natural extension of our capabilities and existing platform. Sean and Mike’s extensive underwriting experience and sponsor relationships complement Octagon’s deep credit expertise and strengthen our ability to provide differentiated access to this attractive asset class.”

“Octagon’s longstanding market presence and exceptional track record create an outstanding foundation on which to build a best-in-class private credit platform,” added Sullivan.

Founded in 1994, Octagon is now a $33bn asset manager which specialises in broadly syndicated loan, structured credit, multi-asset credit, and direct lending strategies.