U.S. Bank launched a new division dedicated to serving private capital firms and global asset managers, bringing together all parts of the bank that currently serve more than 200 private capital clients with a range of products and services, including fund custody and administration as well as lending and capital markets underwriting and distribution. The centralized team of private capital professionals is meant to streamline the experience for asset managers and help the bank grow its offering to additional private equity and private credit firms and other diversified investment managers.
U.S. Bank named Stephen Jeselson head of the division. For the last five years, Jeselson has been a managing director at U.S. Bank, helping lead the bank’s financing of private equity firms and their portfolio companies. He has more than 25 years of experience partnering with private equity fund managers.
“Our unique product mix — especially with our industry-leading corporate trust and fund services capabilities — has put us in an excellent position to meet the needs of private capital asset managers,” Gunjan Kedia, vice chair of wealth, corporate, commercial and institutional banking at U.S. Bank, said. “With a proven service model designed for the complexities of managing these funds, we have developed deep relationships with many of the leading private capital asset managers. The new division will create the focus and resources necessary to give our growing number of private capital clients access to the financial services and expertise they need.”
