TPG Specialty Lending (TSLX) announced Alan Kirshenbaum has notified the company of his intention to step down as CFO, effective no earlier than October 2, 2015, to pursue a new career opportunity. Upon his departure, Robert (Bob) Ollwerther, the company’s chief operating officer, will assume the role of interim chief financial officer, pending a resolution by the company’s Board of Directors. During the transition, Ollwerther will continue to serve as TPG Specialty Lending’s chief operating officer.
Effective immediately, the company will begin an internal and external search to identify a permanent chief financial officer.
Ollwerther joined TSLX as chief operating officer in 2014. Prior to TSLX, Ollwerther was an advisor to TSSP. He was previously the chief operating officer of Avenue Capital Group, a global alternative asset manager with approximately $13 billion under management. Before that, Ollwerther was a managing director at Merrill Lynch where he spent 25 years in a variety of positions, including chief operating officer for the Hedge Fund Development and Management Group; chief financial officer for Europe, Middle East and Africa; chief financial officer for Latin America and Canada; chief financial officer for Global Equities; and head of International and Institutional Internal Audit.
Kirshenbaum will remain chief financial Officer of the company through his departure date, and will play an advisory role in the third quarter close to facilitate a seamless transition. Kirshenbaum has spent the past four years with TPG Special Situations Partners, the dedicated special situations and credit platform of TPG.
“Throughout our four year investment and operating history, TSLX has prudently built a scaled portfolio and originations platform, led by a dedicated team of investment and operating professionals. We attribute our strong track record since inception to our team’s expertise in selecting, structuring, and managing investments with high quality risk-adjusted returns, our commitment to sound valuation and financial tenets, and the alignment of interest we foster with our investors,” said TPG Specialty Lending’s chairman and co-chief executive officer, Joshua Easterly. “Bob is a seasoned executive and valued member of the TSLX team, and we are fortunate to have him serve as our chief operating officer and interim CFO. I look forward to continuing to partner with Bob as we execute on our long-term, strategic objectives.”