Private debt player Revolution AM poaches BofA banker for PM

afr.com:

Sydney private debt investor Revolution Asset Management has dipped into Bank of America’s Sydney ranks to recruit a portfolio manager.

Revolution has grown to $2.6 billion in committed capital since its founding six years ago. Erin Jonasson

Pratik Joshi, a Sydney-based vice president in Bank of America’s asset backed securities division, has deflected to work alongside Revolution’s founders, Bob Sahota, Simon Petris and David Saija.

Joshi is leaving BofA after working across origination, structuring, credit analysis and risk management of RMBS and ABS deals. He should get along nicely with Petris in particular, who is highly regarded in securitisation circles.

Prior to joining BofA, Joshi worked at credit rating agency Moody’s Investor Services’ structured finance group as a lead analyst.

“His extensive experience and impressive track record in private debt portfolio management and deal origination make him an ideal addition to our firm, as we continue to serve our clients and expand our footprint in Australia and New Zealand,” said Sahota, the firm’s chief investment officer.

The new hire comes after local pension giant UniSuper wrote a sizeable cheque for Revolution to manage earlier this year. It had $2.6 billion in committed capital at September end, and is currently raising for its Fund II which already has $1.9 billion and is delivering a 10 per cent portfolio yield.

It brings Revolution’s team to six investors. In addition to the founding trio, the firm added two portfolio managers in 2021 – Steve Sutinen and Lucie Bielczykova, both formerly of Challenger.