Cerberus' new middle-market lender Dymas to be managed by Leonard, Marek, Ricchio

By Sara Rosenberg

New York, May 6 - Cerberus Capital Management LP's newly formed affiliate, Chicago-based Dymas Capital Management, will be run by managing directors Ken Leonard, Andy Marek and Al Ricchio. Dymas Capital will focus on middle market corporate lending and will offer cash flow and asset-based senior debt, subordinated debt and equity capital mainly to the private equity community to fund acquisitions, recapitalizations and refinancings, Cerberus said.

"We have been looking for the right team to supplement and expand the existing capabilities of our lending and investment affiliates," said Mark Neporent, managing director and chief operating officer of Cerberus, in a news release. "Ken, Andy and Al bring a tremendous depth of experience, which allows us to gain an immediate and significant presence in new segments of the marketplace."

Leonard previously led GE Capital's merchant banking syndications team. Before GE, he was employed by Heller Financial and held various positions within the corporate finance, business credit and turnaround equity groups, according to the release.

Marek and Ricchio were previously at Heller Financial as co-managers of a $1 billion portfolio and leaders of a 22-member team that was responsible for originating, underwriting and managing loans with middle-market private equity sponsors.

"We are thrilled with the opportunity to expand Cerberus' activities in the middle market lending sector at a time when consolidation and contraction have significantly reduced the available sources of capital providers," Leonard said. The prospect of partnering with a creative and supportive firm like Cerberus was very attractive to me, Andy and Al. We have been fortunate to put together a team of seasoned executives who will assist us in this new venture."

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