Alts manager Ballast Rock moves into private credit with new hire

Ballast Rock has hired Max Jackson as a managing director and private credit portfolio manager as it looks to expand into an “attractive niche”.

In the newly created role, Jackson will look to identify and source private credit and development capital opportunities for the group’s asset management division. Based in San Francisco, he will also lead M&A advisory for Ballast Rock Capital.

“Private credit has been among the fastest-growing segments of financial services, and we believe we have identified an attractive niche to explore these opportunities on behalf of our investors,” said Simon O’Shea, chief investment officer of Ballast Rock.

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Previously, Jackson was vice president at KeyBanc, in its utilities, power and renewable energy capital markets team. There he advised on more than $1bn in transactions. Prior to that, he worked at MVP Capital and Fifth Third Securities.

Ballast Rock, headquartered in South Carolina, has $240m (£182m) in assets under management managed on behalf of over 1,060 investors. The asset management division provides investments in multi-family real estate and venture capital. The group also has a wealth management division.

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