MVC Capital has hired four debt investment professionals from Fifth Third Bancorp’s Mezzanine Finance Group. The team includes David Williams, Harrison Mullin, David Gardner and Scott Foote. The new members will join The Tokarz Group Advisers, the external managers of business development company MVC and be based in Cincinnati, Ohio.
MVC Capital, Inc. (NYSE: MVC), a publicly traded business development company that makes private debt and equity investments, today announced the addition of four debt investment professionals from Fifth Third Bancorp’s Mezzanine Finance Group to accelerate MVC’s portfolio transformation to yielding investments. The team, which includes David J. Williams, as well as Harrison S. Mullin, David R. Gardner and Scott D. Foote, will join The Tokarz Group Advisers, LLC (“TTG Advisers”), the external manager of MVC and will be based in Cincinnati.
During their tenure at Fifth Third, the team completed 176 transactions, representing over $800 million of mezzanine capital invested. As part of TTG Advisers, the team will continue to focus on middle market lending opportunities sourced from their expansive network of relationships with senior lenders, corporate executives and private equity sponsors built over decades of working within the banking industry.
Michael Tokarz, Chairman & Portfolio Manager of MVC Capital, said, “We are delighted to welcome David and his team of talented investment professionals. As seasoned debt investors through decades of investment cycles, the team brings to MVC sourcing and lending expertise to supplement our already strong investment group. Their expertise will enhance MVC’s efforts to grow our mezzanine lending business and provide creative capital solutions for the middle market.”
Mr. Williams added, “We are excited about joining MVC and look forward to immediately impacting MVC’s yield strategy. We look forward to building upon MVC’s successful investment platform and driving strong returns for MVC’s shareholders. We are thrilled to remain in Cincinnati, an important strategic location that allows us continued access to investment opportunities from our long-term relationships in the financial community.”
David J. Williams
David Williams co-founded Fifth Third’s Mezzanine Finance Group in 1999. As a senior investment professional with over 30 years of investment experience, he has led or co-led transactions, representing over $2 billion of capital invested. Mr. Williams also led the efforts to establish Fifth Third’s Western Pennsylvania affiliate and Private Placements product. Prior to Fifth Third he worked at First Interstate Bank, The Bank of California (where he was named the youngest Vice President in the bank’s history)/Union Bank of California and PNC. Mr. Williams is a graduate of Wittenberg University (BBA Business ’83) and holds FINRA Series 7, 63, and 79 licenses.
About MVC Capital, Inc.
MVC Capital is a Business Development Company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries.
Safe Harbor Statement
The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, including: MVC Capital’s ability to execute its investment strategy; the performance of MVC Capital’s investments; the investment performance of the new mezzanine finance team, including its ability to achieve its expected financial and business objectives; and changes in economic or financial market conditions and other factors that are enumerated in the Company’s periodic filings with the Securities and Exchange Commission. MVC Capital disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.