Private equity firm Thoma Bravo has recruited two Managing Directors from Morgan Stanley's private credit division.
Morgan Stanley Executives Join Thoma Bravo to Boost Direct Lending Capabilities
In a significant move, Jeff Levin and Kunal Soni, former executives from Morgan Stanley's private credit business, have joined US-based software-focused investor Thoma Bravo. The appointments aim to strengthen Thoma Bravo's direct lending capabilities.
Jeff Levin, who previously served as head of direct lending and CEO of Morgan Stanley Direct Lending Fund, will focus on enhancing Thoma Bravo's direct lending platform. Kunal Soni, who led direct lending technology at Morgan Stanley, will also contribute to this endeavour.
Levin's extensive experience includes a tenure as president of The Carlyle Group's Business Development Companies (BDCs) between June 2012 and February 2019. Prior to that, he worked at Morgan Stanley from 2004 to 2012. He rejoined Morgan Stanley after leaving The Carlyle Group in February 2019.
Soni was head of the Western region and direct lending technology within private credit at Morgan Stanley.
Thoma Bravo's Credit Fund III, with a total available capital of $3.6bn, closed fundraising in January. As of reporting on 21 January, the fund had invested more than $1bn across 20 investments, primarily focusing on the senior secured debt of established, mission-critical enterprise software companies.
Thoma Bravo's investment strategies include private equity, growth equity, and credit. The firm's credit platform, according to its website, primarily focuses on the senior secured debt of established, mission-critical enterprise software companies.
Morgan Stanley declined to comment about the new developments regarding Thoma Bravo, while Thoma Bravo's Credit Fund III has not provided a comment either. The details of the appointments of Jeff Levin and Kunal Soni to Thoma Bravo were first reported by Bloomberg.
[1] Source: Thoma Bravo's website and Bloomberg [2] Source: Thoma Bravo's website and Morgan Stanley's website
Jeff Levin, with his background in direct lending and previous role as CEO of Morgan Stanley Direct Lending Fund, will utilize his finance experience to invest in and strengthen Thoma Bravo's direct lending platform. Kunal Soni, who has expertise in direct lending technology from his time at Morgan Stanley, will also contribute to this business endeavor by Thoma Bravo.
