Money Management

Victory Park signs 2 to lead insurance services unit

Connell Hasten and Joshua Platek were named partner and vice president, respectively, at Victory Park Capital, leading the private equity credit specialist's new insurance services platform.

The two are functioning as co-founders of the new platform, a company news release said, sharing the responsibilities of "sourcing, underwriting, executing and managing investment opportunities for insurers." They report to Richard Levy, founder and CEO, and Brendan Carroll, co-founder and senior partner, a spokeswoman said.

Messrs. Connell and Platek were previously with EquiTrust Life Insurance Co., where they held the titles of managing director and vice president, respectively. Mr. Connell oversaw private and public debt and equity investments, while Mr. Platek managed a private debt and structured credit portfolio, the news release said.

Victory Park Capital manages about $3.2 billion in direct lending, distressed and opportunistic credit strategies.

EquiTrust officials could not be immediately reached to provide information on replacements.