Jeffrey Kivitz was named CIO of alternatives firm Canyon Partners.
Kivitz, who was previously Canyon’s co-head of private credit, replaces Todd Lemkin, who left the firm after 21 years, according to a Dec. 18 news release. Bloomberg first reported Lemkin’s departure.
Kivitz, who is based in New York, joined Canyon in 2008 and also oversaw a team that specializes in the financials, technology, software, building product and retail sectors, according to a biography on the firm’s website. Kivitz will join Canyon’s management committee along with Robin Potts, CIO of Canyon Partners real estate, according to the release.
Davide Amico, who is currently head of Europe, will take on Kivitz’s former role of co-head of private credit along with Scott Borenstein, according to the release.
Canyon also announced that firm partners Jonathan Barzideh and Chaney Sheffield were named co-heads of opportunistic credit.
"As we look ahead, we recognize the opportunity to further empower many of the talented leaders who have set the foundation for our success today and who will be of paramount importance to achieving our long-term vision for Canyon,” said co-founders Josh Friedman and Mitch Julis in the news release. “While our roles leading the firm are not changing, we are fully backed by the support of a deeper bench of proven senior leaders who are well-positioned to assume progressively more responsibility.”
In March, Dai-ichi Life Holdings, a Japanese life insurance group, acquired a 19.9% stake in Canyon and committed at least $1.3 billion to several of Canyon’s commingled funds, according to a news release at the time. As part of the agreement, Dai-ichi has the right to acquire up to 51% of the equity interest in Canyon in 2027 and as much as 100% in 2029.
Canyon also announced that Andy Ray, its chief strategy officer, was promoted to president and Randy Ko, a managing director and head of sustainable investing, was elevated to partner and will also take on the role of chief strategy officer.
Canyon had $26.2 billion in assets under management as of Nov. 1, according to a spokesperson for the firm. The firm was founded in 1990 and is headquartered in Dallas.
