- Williams resigned from Twin Brook last year
- Co-founder has been on indefinite leave since spring
- Departure didn’t trigger key-man clauses for Fund II or III: source
Twin Brook Capital Partners co-founder and Partner Chris Williams has stepped down from the middle-market lender, according to a source.
Williams resigned from Twin Brook last year and his departure was effective Dec. 31, the source said. He no longer appears on the Twin Brook website.
Williams, along with Partner Trevor Clark, launched Chicago-based Twin Brook in 2014. It is the mid-market direct lending business of Angelo Gordon & Co.
Since spring, Williams has been on indefinite leave from Twin Brook due to the health of a family member, according to a letter Twin Brook sent to investors on March 12, Buyouts previously reported. He remained an employee of Twin Brook and was also on the investment committee for Twin Brook’s second fund, Buyouts said.
Twin Brook is fundraising for its third direct lending fund. The pool, AG Direct Lending Fund III, hit its target of $2 billion with a first close in July, according to press reports. Twin Brook’s second fund collected $2.3 billion in 2017, while its first pool closed on $850 million the year before, Buyouts has reported.
Williams’s departure did not trigger any key-man provisions in Fund II or III, a second source said. Williams was omitted from the key-man clause for Fund III, Private Debt Investor said in September.
Prior to Twin Brook, Williams and Clark co-founded Madison Capital Funding LLC, a subsidiary of New York Life Investments, in 2001 with the backing of New York Life. In 2013, the two executives left Madison Capital after allegedly violating company policies, the New York Times reported.
While on indefinite leave from Twin Brook in 2018, Williams got into the car wash business, Buyouts reported in August. Williams invested in Four Seasons Power Wash, which offers a “state of the art tunnel wash.” The executive was featured prominently in a photo of the groundbreaking ceremony for Four Seasons that was posted on Facebook.
Four Seasons, of Sterling, Illinois, is owned by Williams & Yepsen Management LLC, a management group, which is comprised of Williams and Kevin Yepsen, of Galva, Illinois. Twin Brook is not an investor of Four Seasons.
Twin Brook declined comment for this story. Williams, Four Seasons and Yepsen could not be reached for comment.
Action Item: Twin Brook can be reached at email@example.com.