Investec’s Hansford heads to MassMutual

The well-known face in secondaries fund finance is aiming to start the insurer’s origination business.

Matt Hansford, Investec’s head of origination and NAV financing, has left the firm, affiliate title Private Funds CFO has learned.

Hansford is, after a period of gardening leave, heading to MassMutual to form the insurer’s origination business, according to people familiar with the matter. Hansford declined to comment, and further details could not be ascertained at the time of this writing, but the move illustrates a growing comfort among investors in fund finance with NAV lending and other products.

Matt Hansford

Insurers require their counterparties to be rated, which could lower the borrowing costs of some borrowers, according to one lender. KBRA is said to be the sole rating agency currently providing credit ratings to GPs, but more are expected to follow, said one lender.

Hansford won’t be replaced, according to a person with knowledge of the matter. Instead, his responsibilities will be carried out by the wider team comprising 25 members.

Grant Crosby remains the head of the fund solutions team at Investec in the UK, and Helen Griffiths continues to be the head of structuring.

Investec declined to comment.

This article first appeared in affiliate publication Private Funds CFO