KBRA Strengthens Its Private Credit Team with Senior Hires
KBRA Expands Its Expertise in Private Credit Sector
KBRA is excited to share the news of three significant appointments made to bolster its already impressive team, consisting of over 70 dedicated analysts. These new senior-level hires are set to enhance KBRA's capabilities in funds and private credit-related ratings and research, demonstrating the company’s commitment to delivering top-notch analytical services. This expansion highlights the firm's proactive approach in responding to the needs of the growing middle-market credit landscape.
Welcoming New Talent to KBRA
Scott Duggal has joined the Fund Ratings team as a Senior Director, bringing with him more than two decades of credit experience. His extensive background focuses on various types of loans, particularly CLOs (Collateralized Loan Obligations), RMBS (Residential Mortgage-Backed Securities), and ABS (Asset-Backed Securities). Prior to this role, Scott was leading the ABS portfolio management at Abrdn, where he also managed research in European consumer ABS and RMBS.
In addition, John Sage has been appointed as a Senior Director, where he will spearhead KBRA’s private credit research initiatives. His collaborative approach will integrate efforts across Corporates, Funds, Financial Institutions, and Structured Credit teams. Previously, John held a key position at Bloomberg as a leading journalist in the private credit sector, and he also gained valuable experience at Goldman Sachs, contributing to both credit and investment banking divisions.
Min Xu joins KBRA as a Managing Director, dedicated to enhancing the research capacity of the Funds team. With a strong background at Natixis, Min was instrumental as a credit risk officer managing CLO/ABS warehouse financing and capital call facilities. Her expertise will be invaluable in navigating the client's complex needs within the private credit space.
Strategic Growth and Insights
William Cox, the Global Head of Corporate, Financial, and Government Ratings at KBRA, praised the strategic expansion by stating, "KBRA has been building teams dedicated to analytical thought leadership across the broad landscape of private credit for many years. These teams, their experience, and the accumulation of a vast amount of data provide KBRA with relatively unique insight into the broad landscape of the private credit market and its trends. We are very excited to have Scott, John, and Min join our expanding platform. Our goal is to continue to bring independent thoughtful insight, analytical consistency, and transparency to this rapidly growing, complex, and otherwise largely opaque industry."
Impact on the Private Credit Landscape
This strategic addition of talent is timely, as KBRA has recently completed over 3,500 credit evaluations and assessments for middle-market borrowers specifically within the private credit portfolio arena. The firm has also achieved remarkable milestones including issuing ratings for over 250 leading fund finance transactions and lending credibility to more than 200 private asset-backed finance ventures. Furthermore, KBRA has rated an impressive number of feeder note transactions (over 150) and has been involved with 30 BDCs (Business Development Companies).
The agency continues to maintain its credit ratings on over 50 of the leading private asset managers globally, as well as overseeing more than 100 middle-market CLOs. This proactive stance positions KBRA favorably in the financial community, establishing it as a reliable source for private equity or NAV secondaries facilities.
About KBRA
KBRA stands as a fully-fledged credit rating agency recognized in the U.S., the EU, and the UK while also having the capability to provide structured finance ratings within Canada. Investors rely on KBRA’s ratings for regulatory capital purposes, making it an essential partner to many within various jurisdictions. This robust framework illustrates KBRA’s continuous dedication to providing superior ratings and research, facilitating insight into the private credit market's nuances.
Frequently Asked Questions
What is the significance of KBRA's new hires?
The new hires enhance KBRA's expertise in funds and private credit, strengthening the team's research capabilities and insights into the private credit landscape.
Who joined KBRA from Abrdn?
Scott Duggal joined KBRA from Abrdn, where he held the position of lead ABS portfolio manager.
What roles did John Sage hold before joining KBRA?
Before joining KBRA, John Sage was a lead journalist at Bloomberg covering the private credit industry and previously worked at Goldman Sachs.
How many credit assessments has KBRA completed?
KBRA has conducted more than 3,500 credit assessments for middle market borrowers in the private credit space.
What is KBRA’s global presence?
KBRA is registered in the U.S., EU, and UK, and has the ability to provide structured finance ratings in Canada.
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