Investec hires head of private credit management to expand direct lending platform
Investec Bank is expanding its direct lending platform with a new private credit management team led by HSBC veteran Michael Miller.
Investec Direct Lending is a European private credit manager focused on the lower mid-market space.
The new private credit management team is set up as a dedicated investment management function for new and existing borrowers and will manage a portfolio of more than 120 existing clients.
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Miller (pictured) has over 20 years of financial services experience, having previously worked for HSBC across M&A, loan markets and portfolio management. He previously had responsibility for HSBC’s sponsor coverage and the leveraged finance portfolio team.
Under Miller’s leadership, the team will be responsible for managing the credit and risk oversight of Investec’s direct lending book. It will also look to originate new revenue opportunities by supporting Investec’s clients through their growth lifecycle.
“I’m excited to be part of Investec and to lead this newly established team, employing our collective expertise and network of relationships to deliver the best outcomes for clients,” said Miller.
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“I look forward to the contribution the team and I can make to building Investec’s position as a leader in direct lending across the UK and European markets.”
Miller will work closely with Callum Bell, Investec’s head of direct lending, to drive the continued growth of Investec’s direct lending business in the UK and Europe.
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“The investment into a dedicated private credit management team represents another significant development in the evolution of Investec’s European direct lending platform,” said Bell.
“Private credit markets have seen unprecedented growth over recent years, and we see continued opportunities in the European lower mid-market – an area that has seen a growing volume of deals in recent years.”
