NEW YORK--(BUSINESS WIRE)--Jul. 31, 2015--
TPG Specialty Lending, Inc. (NYSE: TSLX, or the “Company”), announced
today the following changes to the Company’s management team. Alan
Kirshenbaum has notified the Company of his intention to step down as
Chief Financial Officer, effective no earlier than October 2, 2015, to
pursue a new career opportunity. Upon his departure, Robert (Bob)
Ollwerther, the Company’s Chief Operating Officer, will assume the role
of interim Chief Financial Officer, pending a resolution by the
Company’s Board of Directors. During the transition, Ollwerther will
continue to serve as TPG Specialty Lending, Inc.’s Chief Operating
Officer.
Kirshenbaum will remain Chief Financial Officer of the Company through
his departure date, and will play an advisory role in the third quarter
close to facilitate a seamless transition. Kirshenbaum has spent the
past four years with TPG Special Situations Partners (“TSSP”), the
dedicated special situations and credit platform of TPG. Effective
immediately, the Company will begin an internal and external search to
identify a permanent Chief Financial Officer.
“Throughout our four year investment and operating history, TSLX has
prudently built a scaled portfolio and originations platform, led by a
dedicated team of investment and operating professionals. We attribute
our strong track record since inception to our team’s expertise in
selecting, structuring, and managing investments with high quality
risk-adjusted returns, our commitment to sound valuation and financial
tenets, and the alignment of interest we foster with our investors,”
said TPG Specialty Lending’s Chairman and Co-Chief Executive Officer,
Joshua Easterly. “Bob is a seasoned executive and valued member of the
TSLX team, and we are fortunate to have him serve as our Chief Operating
Officer and interim CFO. I look forward to continuing to partner with
Bob as we execute on our long-term, strategic objectives.”
Easterly added, “We thank Alan for his valuable contributions to TSLX,
including his leadership throughout our inaugural six quarters as a
public company, and we wish him well in his future endeavors.”
Ollwerther joined TSLX as Chief Operating Officer in 2014. Prior to
TSLX, Ollwerther was an Advisor to TSSP. He was previously the Chief
Operating Officer of Avenue Capital Group, a global alternative asset
manager with approximately $13 billion under management. Before that,
Ollwerther was a Managing Director at Merrill Lynch where he spent 25
years in a variety of positions, including Chief Operating Officer for
the Hedge Fund Development and Management Group; Chief Financial Officer
for Europe, Middle East and Africa; Chief Financial Officer for Latin
America and Canada; Chief Financial Officer for Global Equities; and
Head of International and Institutional Internal Audit. Ollwerther
received a B.S. in Accounting from Fairfield University and an M.B.A.
from NYU Stern School of Business. He is a Certified Public Accountant.
The Company will release its second quarter 2015 earnings on Tuesday,
August 4, 2015, after the market closes.
ABOUT TPG SPECIALTY LENDING, INC.
TPG Specialty Lending, Inc. (“TSLX”, or the “Company”) is a specialty
finance company focused on lending to middle-market companies. TSLX
seeks to generate current income primarily in U.S.-domiciled
middle-market companies through direct originations of senior secured
loans and, to a lesser extent, originations of mezzanine loans and
investments in corporate bonds and equity securities. TSLX has elected
to be regulated as a business development company, or a BDC, under the
Investment Company Act of 1940 and the rules and regulations promulgated
thereunder. TSLX is externally managed by TSL Advisers, LLC, an
SEC-registered investment adviser. TSLX leverages the deep investment,
sector, and operating resources of TPG Special Situations Partners, the
dedicated special situations and credit platform of TPG, with over $12
billion of assets under management, and the broader TPG platform, a
global private investment firm with over $74 billion of assets under
management. For more information, visit www.tpgspecialtylending.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150731005641/en/
Source: TPG Specialty Lending, Inc.
Investors Contact:
TSLX Investor Relations
212-430-4119
IRTSL@tpg.com
or
Media
Contact:
TPG External Affairs
Luke Barrett
212-601-4752
LBarrett@tpg.com
or
Owen
Blicksilver PR, Inc.
Jennifer Hurson
845-507-0571
jennifer@blicksilverpr.com
