Maple-Brown Abbott loses sales head

Maple-Brown Abbott distribution head Duncan Hodnett has jumped across to a specialist middle-market corporate direct lending fund manager in the same role.

Hodnett - who was with the boutique fund manager for almost four years -  has joined Epsilon Direct Lending where he will also also take on the investor relations role.

Recently Maple-Brown Abbott promoted Simon Beram to head of institutional and research relationships, Vijay Srinivasan to head of wholesale distribution

Before arriving at Maple-Brown Abbott in early 2020, Hodnett held senior distribution and sales roles at Pinnacle Investment Management and Eaton Vance.

Hodnett has also held roles at Macquarie Bank and BT Financial.

Epsilon founding partner Joe Millward noted that Hodnett's appointment reflects the heightened investor focus on the attractiveness of private credit as an asset class, with middle-market direct lending being a rapidly growing strategy.

"Continued strong corporate borrower demand for private credit creates a significant investment opportunity for private lenders such as Epsilon and our investors," he said.

"In this environment, we continue to expand our team right across the firm to accommodate our growth," he said.

Hodnett added that he was "delighted" to join Epsilon as the firm continues to see significant demand from investors and borrowers.

"In today's uncertain market environment Epsilon's strategy of targeting to deliver attractive returns whilst providing recurring income, capital preservation, low volatility in returns and low correlation to other asset classes through the cycle represents a compelling proposition."

Epsilon launched the Epsilon Direct Lending Senior Loan Fund in June this year, underpinned by a successful two-year track record from its first fund, the Epsilon Direct Lending Fund.