Sachs Private Middle Market Credit LLC, Goldman Sachs BDC, Inc., Goldman Sachs Private Middle Market Credit II LLC, Goldman Sachs Middle Market Lending Corp. II Announce Executive Changes, Effective on March 7, 2022
February 24, 2022 at 05:06 pm EST
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On February 23, 2022, Jon Yoder resigned from his position as Chief Operating Officer of Goldman Sachs Private Middle Market Credit LLC (the company), effective March 7, 2022. On February 23, 2022, Mr. Yoder also resigned as Chief Operating Officer of Goldman Sachs BDC, Inc. (GS BDC), Goldman Sachs Private Middle Market Credit II LLC (GS PMMC II) and Goldman Sachs Middle Market Lending Corp. II (GS MMLC II), in each case effective March 7, 2022.
Mr. Yoder's resignation is not the result of any disagreement with the Company. To assist in an orderly transition, Mr. Yoder will continue serving in his current role during the transition period. On February 23, 2022, the board of directors of GS BDC appointed Gabriella N. Skirnick, age 44, as Chief Operating Officer of GS BDC, effective on March 7, 2022.
It is anticipated that Ms. Skirnick will also be appointed as Chief Operating Officer of the Company, GS PMMC II and GS MMLC II, subject, in each case, to approval by the board of directors of the applicable entity. The effective date of Ms. Skirnick's appointment as Chief Operating Officer of the Company, GS PMMC II and GS MMLC II is expected to be March 7, 2022. Ms. Skirnick is global chief operating officer of Goldman Sachs Asset Management Private Credit.
Prior to joining the Merchant Banking Division as global chief operating officer of the Private Credit investing platform in 2017, she spent six years in the Investment Banking Division in the Technology, Media and Telecom Group as well as in the Americas Financing Group. Ms. Skirnick joined Goldman Sachs as an analyst in the Communications, Media and Entertainment Group within the Investment Banking Division in 2000 and rejoined the firm in 2010. Before re-joining Goldman Sachs, Ms. Skirnick worked in distressed investing at Aurelius Capital Management and Perella Weinberg Partners.
She was named managing director of Goldman Sachs in 2017.
Goldman Sachs BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The Company seeks to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, first lien/last-out unitranche and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. It may also originate covenant-lite loans, which are loans with fewer financial maintenance covenants than other obligations, or no financial maintenance covenants. In addition to investments in United States middle-market companies, it may invest a portion of its capital in opportunistic investments, such as in large United States companies, foreign companies, stressed or distressed debt, structured products or private equity. It invests in various sectors, including automobiles, chemicals and financial services. Its investment advisor is Goldman Sachs Asset Management, L.P.