Navigating BDC Registration Complexity: Leveraging Our Experience and Technical Knowledge

The Client

Our client is a privately held investment management firm with a singular focus on successful client outcomes through investing. The organization has developed a sterling reputation for leadership, influence, and innovation throughout the asset management industry.

As an investment-led, investor-focused firm, intelligent product design continues to make our client relevant to individual and institutional investors.  The recent development of the firm’s private credit strategy within the broader Alternatives business led to unique hiring challenges.  The Head of Credit was tasked with building out the private credit team, developing an array of private credit solutions including a BDC and institutionalizing the private credit investment process.  As leaders in executive search for the Private Credit industry, the Boyden Asset Management team was retained to help our client acquire a Private Credit Controller to support the complex BDC registration process for this private credit vehicle and build out the private credit accounting infrastructure.

The Solution

To address the gap in BDC regulated fund accounting leadership experience, Boyden utilized a highly focused search strategy leveraging long-standing relationships and technical knowledge to navigate the highly specialized BDC industry. The strategy involved meticulous market mapping, including defining technical responsibilities, identifying desired BDC Finance experience and qualifications, leveraging industry networks and professional associations, utilizing extensive Private Credit executive search experience, and conducting thorough interviews and assessments. Through this strategic approach, Boyden successfully attracted a highly rated Private Credit Controller with significant BDC experience.

This successful partnership concluded with the onboarding of a BDC Controller to convert the private fund to a fully registered Private BDC Fund structure.  The Controller successfully implemented robust oversight and reporting capabilities positioning the organization for future growth and complex fund launches.

The Process

The Boyden Asset Management team has a deep track record within the Private Credit industry. Utilizing our extensive search experience and technical expertise within the BDC industry; we successfully identified, developed and delivered a leading finance professional in the space.  Our executive search process included a highly customized approach and direct partnership with the firm’s Head of Global Fund Finance and Head of Private Credit.  We developed a highly focused approach to meet the challenges of this position and successfully recruited a rich candidate pool of highly qualified BDC accounting experts to help transform the organization.

The Result

We successfully partnered with this investment manager and placed the firm’s BDC Controller.  This experienced professional brought the technical BDC-specific experience necessary to build and implement a SOX-compliant accounting and financial reporting infrastructure. This hire has allowed the organization to be able to handle investor interest in the BDC and expand into other private funds-of-one and uniquely structured investment offerings.