In late September, we reported that Rob Long was let go as head of Allied Capital’s asset management group, as the troubled lender attempted to sell off assets. Now that Allied has sold the entire company to Ares Capital, Long has popped up, somewhat unsurprisingly, at Ares.
According to a research report from Stifel Nicolas, Long is now working at Ares Capital. I reached his office by calling the firm’s switchboard but my voicemail was not returned by the time of publication.
The report deems this move as a positive sign for the Allied-Ares merger, as it is a sign that Long, who knows where “the bodies are buried,” was likely involved in the deal’s due diligence. Further, the report states that Long will help Ares in its loan extension negotiations. “We believe that Rob was instrumental in ARCC’s purchase of the Senior Loan Fund with GE Capital as Rob was the point man for all of ALD’s asset management which helps create a smooth transition as ARCC and GE negotiate terms to extend that fund relationship,” according to Stifel Nicolas.
No word from the firms on the sales of certain assets which were on the block before the merger was announced, including the sale of Callidus Capital,
Long joined Allied Capital in 2002 and has been a member of the firm’s investment committee. His father, Robert E. Long, has been a director on Allied’s board since 1972, according to Forbes.
Previously: Rob Long Departs Allied