Private Equity Firm Aperture Investors recruits Castlelake's Turgeon to oversee novel ABF Scheme
Aperture Investors, in partnership with Generali Group, has announced the launch of a new Asset-Based Finance (ABF) strategy. The strategy, which aims to invest $1bn (£0.75bn) in underpenetrated segments of the ABF market, has been spearheaded by Nick Turgeon, who has been appointed as the global head of ABF and portfolio manager of the fund at Aperture Investors.
Turgeon, previously a managing director on the specialty finance team at Castlelake, brings extensive experience to the table. He was hired to lead the new ABF strategy, and expresses excitement about the opportunity. "Traditional lenders are reportedly retrenching, and financing needs are becoming more nuanced," Turgeon said. "Aperture offers the right foundation to build a focused ABF strategy."
Turgeon's team includes three ABF professionals who are joining Aperture Investors in the next two months. Scott Barek, who previously worked at Evolution Credit Partners Management, is one of the new hires. Sam Cirelli, with over 30 years of experience as a corporate lender and advisor, primarily based in New York, is another. The specific previous employer of the third professional is not explicitly mentioned in the search results.
Peter Kraus, the chief executive and chairman of Aperture, expressed his excitement about Turgeon leading the new ABF strategy. "Nick's extensive experience and leadership will be a valuable asset to our team as we continue to expand into new areas of alternative credit," Kraus said.
Aperture has been expanding into new areas of alternative credit over the past 12 months. In January 2025, the firm launched a structured credit strategy, and in September 2024, a litigation finance strategy. The ABF strategy is backed by seed capital from Generali Investments, the asset management arm of the Generali Group.
With the launch of the ABF strategy, Aperture now manages more than $2.3bn in committed capital across its alternative credit platform. The strategy is initially focused on opportunities in North America, with plans to expand into European credit markets over time.
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"Nick Turgeon, with his background in specialty finance, is spearheading Aperture Investors' new Asset-Based Finance (ABF) strategy to invest in underpenetrated segments of the market, demonstrating his involvement in the finance and investing sphere and the business of Aperture Investors."
"The expansion of Aperture Investors into new areas of alternative credit, such as Asset-Based Finance and structured credit, indicates their focus on business ventures and opportunities in investing."
