David Brackett, Antares Capital co-CEO, will become sole CEO of the credit manager after co-CEO John Martin retires at the end of April, according to a news release.
Messrs. Brackett and Martin have served as co-CEOs since 2015; both were founding partners of the firm. Antares, which has about $24 billion in assets under management, was acquired by GE Capital in 2005, which sold it to the C$368.5 billion ($270.1 billion) Canada Pension Plan Investment Board, Toronto, in August 2015.
“It’s bittersweet. We started our careers together in 1982. He’s going out at the absolute top,” Mr. Brackett said. “We’ve had 60% growth since CPPIB’s acquisition, investing in good old fashion middle-market senior debt.”
Mr. Brackett said that he has no plans to retire.
“I still love what I do ... and I am prepared to carry the ball forward,” he said. “At the same time, you have to develop the next generation.”