David A. Heilbrunn is joining Fifth Street Asset Management as a managing director and member of the firm’s management committee, said spokesman Nicholas Rust.
The position is new.
Beginning May 11, Mr. Heilbrunn will be responsible for, among other things, expanding Fifth Street’s structured credit products platform and developing institutional client relationships. He will report to Fifth Street Asset Management Chairman and CEO Leonard Tannenbaum and Chief Investment Officer Ivelin Dimitrov.
Mr. Heilbrunn was a managing director at Carlyle Group. Carlyle spokeswoman Elizabeth Gill declined to comment on whether or not he was replaced.
Fifth Street Asset Management has more than $6 billion in assets under management.