An Income Alternative: Exploring Middle Market Direct Lending – Golub Capital – 6.3.24

Summary:

Now On Demand

Recent talk of a “golden moment” in private credit has drawn strong client interest to this income alternative. But even as private market direct lending has grown, questions remain about the essential characteristics of this alternative asset class, the ability to maintain its attractive income-centric return profile, and how advisors must navigate manager selection headwinds to achieve better client outcomes.

Join David Santoriello, Deputy Head of Private Wealth Americas, as he covers:

• The emergence of middle market direct lending as “sponsor finance”
• How direct lending managers deliver a private market “premium” in the asset class
• A nuanced approach to asset allocation (and sourcing) with direct lending

Accepted for 1 CFP^® / IWI / CFA CE Credit

Speaker:

David Santoriello is a Managing Director and Deputy Head of Private Wealth Americas of Golub Capital, a market-leading, award-winning direct lender and experienced credit asset manager. As of January 1, 2024, Golub Capital had over $65 billion of capital under management, a gross measure of invested capital including leverage. Golub Capital partners with institutional investors and family offices, offering tailored solutions for investors’ credit asset strategies. The Firm specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Golub Capital has been a top 3 U.S. Middle Market Bookrunner each year from 2008 through Q4 2023 for senior secured loans of up to $500 million for leveraged buyouts. Golub Capital has been consistently recognized with industry awards, including Lender of the Decade, Americas (Private Debt Investor, 2023), Senior Lender of the Decade, Americas (Private Debt Investor, 2023), Lender of the Year, Americas (Private Debt Investor, 2014, 2015, 2016, 2018, 2021, 2022, 2023), Senior Lender of the Year, Americas (Private Debt Investor, 2015, 2016, 2017, 2019, 2020, 2023) and BDC Manager of the Year, Americas (Private Debt Investor, 2015, 2016, 2017, 2023).

Mr. Santoriello joined Golub Capital in 2021 and is a Managing Director and Deputy Head of Private Wealth Americas within the Investor Partners Group. He is responsible for supporting Golub Capital’s distribution, marketing and client service activities in the private wealth channel in North and South America. He was previously Head of the Product Specialist group, responsible for supporting business development and investor relations as a subject-matter expert for the Firm’s private funds. Prior to joining Golub Capital, Mr. Santoriello was a Director in the Product Development and Management group at Guggenheim Partners.

Mr. Santoriello earned his BBA, with distinction, from the Stephen M. Ross School of Business at the University of Michigan. He received an MBA, with distinction, from the NYU Stern School of Business. He is a CFA^® Charterholder and has earned the right to use the Chartered Alternative Investment Analyst (CAIA) designation.