Money Management

PineBridge brings on team to launch direct lending business

James Fisher, Joseph Taylor and Doug Lyons joined PineBridge Investments as managing directors to help launch a direct lending business, said Nicole Madison, spokeswoman, in an email.

They are all new positions. Mr. Fisher will lead the New York-based team.

The direct lending business would primarily lend to U.S.-based middle-market companies seeking capital for growth, acquisitions, leveraged buyouts and recapitalizations. The team had worked at Business Development Corp. of America, a non-traded business development company that is now externally managed by alternative investment firm Benefit Street Partners, the credit investment arm of private equity firm Providence Equity Partners.

Mr. Fisher had been president of BDCA; Mr. Taylor was a managing director and head of capital markets; and Mr. Lyons was a managing director and head of originations.

In 2016, AR Global, the alternative investment firm controlled by Nicholas Schorsch, sold the Business Development Corp. of America's investment adviser to Benefit Street Partners.

PineBridge had $85.5 billion in assets under management as of June 30.