Canadian junior capital provider Penfund has hired Michael Binnington as a vice president of origination.
Binnington joins Penfund after six years spent at Bank of America Merrill Lynch, most recently as a vice president in the leveraged finance investment banking group in London.
Before then, he served an investment analyst at Manulife.
In December, Toronto-based Penfund closed its sixth mid-market fund, Penfund Capital Fund VI, raising $1.15 billion.
Michael Binnington Joins Penfund as a Vice President of Origination
TORONTO, June 27, 2019 (GLOBE NEWSWIRE) — Penfund, an independent provider of junior capital to middle market companies in the United States and Canada, announced today that Michael Binnington has joined the firm as a Vice President of Origination.
Mike joins Penfund after having spent six years at Bank of America Merrill Lynch, most recently as a Vice President within the Leveraged Finance Investment Banking group in London. While at Bank of America Merrill Lynch, Mike was involved in a number of sponsor-led financings and M&A transactions across a range of industries and geographic regions, including North America and Western Europe.
Mike has worked for financial institutions in Toronto, London, Boston and New York and has a Bachelor’s degree in Business Administration from Northeastern University in Boston, MA.
The Penfund team is delighted to welcome Michael to the firm and looks forward to working with him.
Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund VI. Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high-net-worth individuals located in Canada, the United States, the Middle East and Europe. Penfund has invested more than $3 billion in over 225 companies since its establishment. Assets under management are approximately $1.8 billion.
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