Money Management

Ryan Labs adds leveraged finance group

Updated with correction

Mark Pelletier was named senior managing director and head of leveraged finance at Ryan Labs Asset Management, the firm announced Tuesday.

Leveraged finance is a new division at the company. Mr. Pelletier joins Ryan Labs along with managing directors Michael Cerullo, Christian Toro, Dana Dratch and Juan Miguel Estela, who will report to Mr. Pelletier, according to a news release. Mr. Pelletier will report to Richard Familetti, president and chief investment officer.

The team will manage Ryan Labs' new U.S. senior loan strategy, seeded with $100 million from Ryan Labs' parent Sun Life Financial.

The five had been the leveraged finance team at American Capital Leveraged Finance Management, which was sold by parent American Capital to Marble Point Credit Management in January 2017.

Officials at Marble Point could not be immediately reached for details on the team's departure or its replacements.