Boston, Massachusetts, Aug. 11, 2016 (GLOBE NEWSWIRE) -- NewStar Financial, Inc. (NASDAQ: NEWS) announced today that John Frishkopf will retire from the company as of September 30, 2016. Mr. Frishkopf was a founding member of the firm and has served as Treasurer and head of its Asset Management group since NewStar's inception in 2004. He will remain involved with the company as an external advisor to provide decision support to the management committee and to advise the Risk Committee of the Board of Directors as needed on strategic funding matters.
Mr. Frishkopf will be succeeded as Treasurer by Michael Eisenstein, a managing director in the treasury group. Mr. Eisenstein joined NewStar in 2005 and has served as Assistant Treasurer since 2011, playing key roles in all treasury management activities, including building the company's market-leading securitization platform. He has more than 16 years of treasury management and debt capital markets experience. Prior to joining NewStar, Mr. Eisenstein worked at Bank of Tokyo Mitsubishi UFJ Capital Corporation (BTMU) in its investment banking group covering non-investment grade commercial finance companies in the transportation sector.
Commenting on Mr. Frishkopf's contributions to the firm, NewStar's CEO, Tim Conway said: "John played a key role in building the company and establishing our securitization platform as the centerpiece of our funding strategy. In fact, he was one of the pioneers of middle market loan securitization, driving innovation and helping to broaden investor interest in the asset class as the market developed. Working with Mr. Eisenstein, he also built a world-class treasury organization with un-matched securitization expertise and a strong operating platform. His asset-liability strategy, disciplined liquidity management and thought leadership also helped guide us through periods of unprecedented market turbulence. As a result, he leaves us better for it and we are grateful for his many significant contributions."
"While it is personally difficult to lose a colleague like John, I have complete confidence in Mike and our treasury team and I am excited about continuing to work closely with him as we build on an outstanding track record of middle market loan securitization and capitalize on opportunities to expand our asset management platform," Mr. Conway added.
About NewStarNewStar Financial Inc. (NASDAQ:NEWS) is an internally-managed, commercial finance company with $6.6 billion of assets managed across two complementary business lines — middle market direct lending and asset management. The Company's direct lending activities are focused on meeting the complex financing needs of companies and private investors in the middle markets through specialized lending groups that offer a range of flexible debt financing options. Credit investments are originated directly through teams of experienced, senior bankers and marketing officers organized around key industry and market segments. Through its asset management platforms, NewStar offers a range of investment products employing credit-oriented strategies focused on middle market loans and liquid, tradeable credit. The Company manages approximately $1 billion of assets in a series of private credit funds that co-invest in middle market loans originated through its established leveraged finance lending platform and its strategic relationship with GSO Capital, the credit division of The Blackstone Group. Through its wholly-owned subsidiary, NewStar Capital, the Company also has more than $2 billion of assets managed across a series of CLOs that invest primarily in broadly syndicated, non-investment grade loans, as well as other sponsored funds and managed accounts that invest across various asset classes, including non-investment grade loans and bonds.
NewStar is headquartered in Boston MA and has regional offices in Darien, CT, and New York, NY. For more detailed information, please visit our website at www.newstarfin.com.
Robert K. Brown