CVC hires GE's Fowler for credit arm

Fowler will work within CVC's private debt team. The department is currently led by partner Tom Newberry and also features managing director and portfolio manager Neale Broadhead, who is understood to be in charge of the €400m European credit fund that CVC launched around June 2014.

CVC's newest managing director joins the GP's credit arm after 10 years at the Detroit office of debt specialist GE Capital. As managing director, he was responsible for the deployment of more than 50 senior, mezzanine, unitranche and high-yield facilities in transactions within the European and US markets.

Prior employers include Union Bank of California, where he specialised in leveraged lending as a loan officer between 1982 and 1989. He then joined JPMorgan Chase, which appointed him as senior vice-president for leveraged lending operations.

Fowler will be leaving GE Capital three weeks after the debt provider divested its sponsor finance business to Sumitomo for $2.2bn.

The sale, part of a broader divestment roadmap by GE, followed earlier divestments such as the firm's $1.2bn UK home lending portfolio and the $11bn US-based sponsor finance business, offloaded to Canada Pension Plan Investment Board.

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