Money Management

Investcorp hires managing director to lead European credit business

Phil Yeates was named managing director to lead Investcorp's new European credit funds business, said a spokeswoman for the firm.

The position is new, and Mr. Yeates joined Monday. The business is a new part of the firm's Investcorp Credit Management unit, which has more than $11 billion in assets under management. Investcorp acquired 3i Debt Management from 3i Group in March, rebranding the business Investcorp Credit Management.

Mr. Yeates is based in London and oversees the structuring and fundraising for closed-end credit strategies and separately managed accounts in Europe. He reports to Jeremy Ghose, managing director and head of Investcorp Credit Management.

Mr. Yeates joined from Rothschild & Co., where he worked to establish and develop its global credit management business, said a news release from Investcorp. Spokesmen could not immediately be reached for comment.