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Investing.com -- Octagon Credit Investors is set to hire Sean Sullivan, the former head of direct lending origination at Morgan Stanley (NYSE:MS), to build out its direct lending business.
Sullivan, who worked as a managing director at Morgan Stanley for the past five years, has left the firm according to Bloomberg, citing sources familiar with the matter. Before his time at Morgan Stanley, Sullivan held a similar position at direct lender Antares Capital.
The move comes as Octagon, primarily known for managing collateralized loan obligations, aims to expand into the $1.7 trillion private credit market. Sullivan will be tasked with developing Octagon’s direct lending capabilities as the firm seeks to diversify its business operations.
The sources, who requested anonymity, did not provide additional details about when Sullivan would officially join Octagon or specific plans for the company’s private credit initiative.
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