HPS Asset Value Funds, which is managed by HPS Investment Partners, a credit investment firm with more than $75 billion of assets under management, appointed William “Bill” Stephenson and Thomas Lyle CEO and COO, respectively, for the funds’ global leasing platforms.
The platforms include PEAC UK and PEAC Europe, both of which are B2B lenders focused on supporting small and mid-size enterprises, as well as the soon to be acquired Marlin Business Services, a lender specializing in providing financing to small companies. The platforms collectively operate in 11 countries and currently have balance sheet lease assets of €4.5 billion ($5.1 billion) and annual originations of more than €2.4 billion ($2.72 billion).
“We are extremely fortunate that these two industry veterans have recognized the unique potential our platforms offer. We believe that the combination of Bill’s leadership experience with Tom’s operational expertise will be instrumental in our pursuit to create a leading global commercial finance organization,” Jonathan Ashley and Justin Staadecker, co-portfolio managers of HPS Asset Value Funds, said in a joint statement.
As CEO, Stephenson will be responsible for the implementation of the platforms’ strategic plans, with a focus on expanding and further integrating the funds’ global footprint to deliver integrated financial solutions to manufacturers and distribution partners in Europe and the United States.
Stephenson has held a variety of senior industry positions over the past three decades, most recently serving as CEO and chairman of DLL Financial Services.
“I am honored to lead these platforms into their next phase of growth and look forward to building on the strong culture of sales and customer service that they have become known for,” Stephenson said. “HPS has made significant acquisitions in this space, most recently with Marlin Business Services. I am excited to continue the integration, assimilation and creation of reliable value for our global customer base and look for new and innovative ways to further expand our suite of financing capabilities.”
In Lyle’s role as COO, he will be responsible for overseeing and increasing digitization and optimizing operating efficiencies across the platforms, including developing shared servicing centers for the funds’ middle and back-office operations.
Lyle has held a variety of senior operational and industry positions over the past two decades. He most recently served as general manager of global leasing at Xerox, which manages more than $3 billion of global leasing assets.
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