peHUB has learned that Joel Holsinger today began work as an Atlanta-based managing director with Fortress Investment Group, where his initial focus is on portfolio acquisitions and distressed opportunities. He previously had been a managing director with Atalaya Capital Management, and is considered one of the foremost authorities on capital markets transactions in the restaurant sector.
This is a homecoming of sorts for Holsinger, who had worked extensively with Fortress while running the hedge fund services and restaurant investment banking divisions of Navigant Capital Advisors. The two also worked together on Atalaya’s recent takeover of bankrupt casual restaurant chain Bennigan’s Grill & Tavern, with Holsinger expected to keep tabs on the transaction.
Atalaya has no immediate plans to replace Holsinger, with partner Michael Bogdan saying that the business is “built to be redundant,” with “several partners knowledgeable about every name.”
Holsinger has not yet responded to a peHUB request for comment. He formally announced his departure in an email over the weekend, although others got wind of the move closer to Halloween.