Shahab Rashid was named managing partner and co-head of private credit at private equity manager L Catterton.
It is a new position, a spokeswoman said. Mr. Rashid will lead the establishment of L Catterton's new middle-market direct lending strategy for its new private credit platform. The timeline of the strategy's launch has yet to be announced, the spokeswoman said.
Mr. Rashid reports to J. Michael Chu and Scott A. Dahnke, global co-CEOs.
The spokeswoman said an announcement regarding the other co-head of private credit is pending.
Mr. Rashid was previously partner and co-founder of the private credit group at Adams Street Partners. A spokesman for Adams Street Partners could not be immediately reached for further information.
L Catterton has more than $33 billion in assets under management.