Timothy G. Lyne, founding partner and current chief operating officer of private credit manager Antares Capital will succeed CEO David M. Brackett when he retires Dec. 31.
Antares may hire a new chief operating officer in the future but the position will be different from its current composition, spokeswoman Carol Ann Wharton said in an email.
"The COO role was designed specifically for transition purposes," Ms. Wharton said.
Mr. Brackett will remain in an advisory capacity with Antares at least through March and possibly longer, she said.
"It has been a privilege working alongside Tim since we started the firm more than 25 years ago, and I look forward to seeing him make his mark as CEO," Mr. Brackett said in a news release.