17Capital hires New York MD following two departures

The PE lender has hired Dane Graham from RBC after losing two New York-based managing directors earlier this year.

17Capital has made a senior appointment in its New York office following the departure of two managing directors.

The London-headquartered private equity lender has hired Dane Graham as managing director across investments reporting to managing partner Robert de Corainville, according to a statement.

Graham joins from RBC Capital Markets where he spent four years as a managing director in its financial institutions group. Prior to that, Graham spent 13 years at Citigroup, most recently holding the same position in the same group as he did at RBC.

Graham will support the sourcing, underwriting and execution of preferred equity and NAV lending transactions and will help grow the firm’s investment capital base, the statement noted.

Graham’s arrival follows the departure of two New York-based managing directors, Richard Golaszewski and Stephen Swentzel, Secondaries Investor reported in June.

In March, 17Capital agreed to be acquired by Oaktree, which cited the firm’s role as a market leader in NAV-backed lending as a key driver of the deal. Under the terms of the acquisition, it would continue to operate as an independent business with its own product offerings and investment, marketing and support teams.

17Capital closed its debut NAV lending fund in April on €2.6 billion, racing past its €1.5 billion target after nine months in market, according to data from affiliate title Private Equity International.

It has also raised five preferred equity funds since 2010, its most recent being the $2.9 billion 17Capital Fund 5.