Bielinski leaves CIT for AB Private Credit Investors

Bob Bielinski has left the CIT Group Inc. after seven years to join the middle market lending team at AllianceBernstein.

Bielinksi is a managing director at AB Private Credit Investors LLC where he will lead the group’s middle market lending efforts in restaurant, retail and franchising industries. Previously, he headed the restaurant industry practice within corporate finance at CIT.

Bielinski said he was excited to help AllianceBernstein build out its middle market private credit platform. “It’s a great opportunity for me because of the quality of the AB-PCI team, the amount of capital that’s already been raised and the flexible investment mandate,” he said in an emailed response to questions.

A CIT spokesman confirmed Bielinski’s departure. Burt Feinberg, president of CIT Commercial & Industrial, is managing the firm’s restaurant industry coverage, the spokesman said.

AllianceBernstein launched its private credit-investing platform last year with several former members of Barclays Private Credit Partners LLC. These included Brent Humphries, the former President of Barclays Private Credit Partners LLC.

AB Private Credit Investors provides direct lending to middle market companies. The group is part of AllianceBernstein, the asset management firm, that is 63 percent owned by AXA.

Last week, AB Private Credit closed its first fund with $1.1 billion in total commitments. Investors included public and private institutions, family offices and high net worth individuals, a statement said.

AB Private Credit, based in New York, currently has a staff of 15 but plans to expand, a spokesman said. It’s unclear how many people AB Private Credit is looking to hire.

Photo courtesy of Shutterstock