RBC Capital Markets is working toward closing its debut $400 million collateralized loan obligation early next month and has hired Nicholas Daifotis as managing director and head of high-yield origination and capital markets as part of the group's ongoing build-up of its acquisition financing for the middle market. "Hiring Nicholas Daifotis [from Barclays Capital] is a prelude to hiring more on the high-yield origination side of the business," said Ken Kencel, co-head of RBC Leveraged Capital. RBC Capital also is talking to some senior-level people about running the loan syndication side of the business, he added.
Daifotis was head of financial sponsor coverage at Barclays until the firm exited the high-yield market in the U.S. Daifotis left the firm over one month ago, said a Barclays spokeswoman.
Kencel's group started out with 20 people in October of 2001, following a mass exodus from Credit Agricole Indosuez (LMW, 11/11). At Credit Agricole, the group was responsible for a number of CLOs. The group at RBC now comprises 35 people, Kencel noted.