Jens Ernberg and Thomas Hall, previously co-heads of private credit at Swiss money manager Capital Dynamics, have left to start their own private credit shop targeting the lower middle market.
New York City-based Camberline Capital Management LLC plans to invest across capital structures of companies operating in a variety of industries, according to a Linkedin post by Founder and Managing Partner Hall. The pair appear to have left on good terms with Zug, Switzerland-based Capital Dynamics, which manages or advises on more than $14 billion in assets.
“I would like to thank Capital Dynamics for their support over the years and for their continued partnership,” wrote Hall in his post. We were unable to reach either Managing Partner Ernberg, Hall or executives at Capital Dynamics for comment on fundraising or hiring plans.
The Strategy: As of press-time, Capital Dynamics had taken down the “private credit” section from the “What we do” page on its Web site. That section described a credit strategy centered on making senior loans to U.S. companies generating $7.5 million to $30 million in technology, business services, consumer, healthcare, media, telecom, industrials and chemicals.
The Team: It isn’t clear how many people work at Camberline Capital Management, although Hall in his post suggests others have joined him and Ernberg from Capital Dynamics. Before launching the firm Ernberg and Hall both spent nearly seven years at Capital Dynamics. Most recently they worked in the New York City office as senior managing directors and co-heads of private credit. Before that the pair worked as portfolio managers at Credit Suisse. Ernberg co-founded the firm’s direct lending platform, called corporate credit solutions, according to his Linkedin profile.
Capital Dynamics: Along with its credit platform, Capital Dynamics is known for offering funds of funds that provide investors access to mid-market buyout funds across the United States, Europe and Asia. Since 1988 the firm has backed more than 700 funds managed by more than 350 general partners. The firm, which has 12 offices around the world, also invests in secondaries and makes co-investments.
Image Credit: OpenAI’s DALL-E