Suhail Shaikh was appointed co-head of private credit at alternative investment firm Investcorp.
Based in New York, Mr. Shaikh will co-lead the private credit business alongside current co-head Michael Mauer according to a news release Monday.
Mr. Shaikh succeeds current co-head Christopher Jansen, who will take on an advisory role and retire later this year "after ensuring a smooth transition," the news release said.
Mr. Shaikh will report to Jeremy Ghose, global head of Investcorp Credit Management, a unit of Investcorp, a spokeswoman said in an email.
Mr. Shaikh previously led alternative credit manager Alcentra's U.S. private credit business. He will also bring with him three other three team members from Alcentra, thereby expanding the private credit team to 14 professionals.
A Franklin Templeton spokeswoman said in an email that Benefit Street Partners, the U.S. alternative credit subsidiary of Franklin, "runs a very large and successful U.S. private credit business, thus there was no need to carry forward the role held by Suhail Shaikh, or certain members of his U.S. credit team after the acquisition, that centered on adding Alcentra's alternative European credit capabilities."
Alcentra was acquired by Franklin from BNY Mellon on Nov. 1. As a result of that transaction, Benefit Street Partners nearly doubled its AUM to $75 billion.
The Franklin spokeswoman added that Alcentra operates as part of a combined alternative credit specialist investment manager led by Benefit Street Partners' senior management. "BSP had no European presence prior to this acquisition and Alcentra has a strong name and brand in Europe, and we will continue to use the brand," she said.
Investcorp has $50 billion in total AUM.