17Capital creates third managing partner

17Capital has promoted a longstanding executive to the top rung amid a raft of promotions.

Robert de Corainville has been promoted to managing partner, according to a statement from the preferred equity and credit firm. He joined 17Capital in 2010, was made partner in 2014 and moved to New York from London in 2016 to set up the firm’s US office.

17Capital’s US dealflow has increased eight-fold since the office opened, the statement said.

Managing directors David Wilson and Stephen Quinn have been made co-heads of credit, responsible for 17Capital’s NAV-based lending business. They will also join the firm’s investment committee.

Wilson joined from JPMorgan‘s fund finance team in 2019 with Quinn joining from Lloyds Banking Group soon after. Credit partner Tom Doyle left 17Capital last week, as Secondaries Investor reported.

Stephen Swentzel, Richard Golaszewski and Owen James have been appointed managing directors, according to the statement. Golaszewski appeared in Secondaries Investor‘s Young Guns of Secondaries Class of 2018.

“As the market for portfolio financing continues to grow at pace, we are pleased to be able to continue to develop our team to meet the growing demand for our products,” said managing partner Pierre-Antoine de Selancy in the statement.

17Capital is in market with its fifth preferred equity fund targeting €1.8 billion, according to Secondaries Investor data. The fund launched in 2019 and held an interim close on €1.45 billion.

The firm closed 10 deals worth $1.5 billion during 2020, from a pipeline of $20 billion across its preferred equity and credit platforms, Secondaries Investor reported in December.