NewStar taps McAuliffe to lead leveraged finance, adds two bankers

By Tali David

Minneapolis, June 5 - NewStar Financial, Inc. named Pat McAuliffe to lead its leveraged finance business and added senior bankers Eric Herr and Matt Colucci to its leveraged finance origination team as managing directors, according to a press release.

With the additions of Herr, Colucci and recent hire Wes Frangul, NewStar said it continues to build and enhance the quality of its middle-market sponsor coverage team.

After serving as co-head of leveraged finance in 2012, McAuliffe will now lead NewStar's efforts to deepen relationships with its core clients, while also broadening its coverage of private equity firms with investment strategies focused on the middle market. Prior to joining NewStar Financial in 2005, he was a regional executive at Bank of America responsible for a $2 billion portfolio consisting of 1,500 middle-market customers throughout the metro New York region.

Herr will open a new office for NewStar in New York City. He joins from Carlyle Group, where he was a principal in the GMS Finance group. Prior to that, he was a managing director and founding member of Churchill Financial and was previously with GE Antares, where he was managing director and a senior banker.

Colucci, who will be based in the company's Darien, Conn., office, joins from Balance Point Capital Partners, where he was a partner managing a middle-market mezzanine fund. Before that, he was managing director and founding member of Patriot Capital Funding, a publicly traded business development company, where he was member of the firm's investment committee and led a six-person investment team.

Frangul is based in Chicago.

Former co-head David Dobies, has left the firm.

"Opening a New York office and adding three respected bankers like Eric Herr, Matt Colucci and Wes Frangul clearly reinforce our commitment to expand in this attractive market segment," McAuliffe said in the release.

"Although we are well established in these markets, we continue to emphasize the quality of our sponsor coverage as we enter the next phase of our development."

NewStar is a Boston-based commercial finance company focused on middle-market companies and private investors.

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