MONEY MANAGEMENT

BC Partners adds managing partner for new credit business

Ted Goldthorpe, former president of Apollo Investment Corp. and head of Apollo Global Management’s senior lending group, joined private equity firm BC Partners as a managing partner in charge of launching a credit business, said people close to the firm.

It is a new position. Mr. Goldthorpe oversees the new business unit, BC Partners Credit. He is based in New York.

Mr. Goldthorpe resigned his Apollo positions in June. He was replaced as president of Apollo Investment Corp., a business development company sponsored by alternative investment firm Apollo Global Management, by Howard Widra. Apollo Global Management officials declined to comment further, a firm spokesman said.

Also joining the new BC Partners Credit business as partners are Henry Wang, a former partner at hedge fund Stonerise Capital Partners and effective April 1 Matthias Ederer, a former partner at Wingspan Investment Management. Jeffrey A. Cozad, Stonerise co-founder, and Buck Ratchford, Wingspan founder, could not be reached by press time.