CVC Credit Partners today announces that Gretchen Bergstresser has been appointed as Global Head of Performing Credit, a new role within CVC Credit Partners.

Gretchen has headed the US performing credit strategy of CVC Credit Partners since its inception, having co-founded the US CLO platform Apidos in 2005. Apidos was combined with CVC Cordatus, CVC's European credit business in 2012, to form CVC Credit Partners.

Phil Raciti, Senior Managing Director in CVC Credit Partners' New York office, will become Head of US Performing Credit.

Andrew Davies, Senior Managing Director in the London office, will become Head of Europe.

Jonathan Bowers, Partner and Senior Portfolio Manager in London, has announced his intention to reduce his time commitment to CVC Credit Partners in order to pursue other opportunities and, from 1st February, will become a senior adviser to the business in a part time capacity.

Hamish Buckland, Chairman of CVC Credit Partners, said "I am delighted to congratulate Gretchen, Phil and Andrew on their new roles, and thank Jonathan for his outstanding contribution to the business. Jonathan has been with CVC Credit Partners since 2006, when he co-founded CVC Cordatus. He has been instrumental in both building our market-leading European credit platform and driving our exceptional returns over the last 11 years. We wish him all the best in all his future endeavours. We are also delighted to be able to continue to benefit from his experience, wisdom and insights in his advisory role."

CVC Credit Partners is a leading credit manager focused on sub-investment grade debt across the U.S. and Europe, with US$18.1 billion of assets under management. Since being established in 2006, CVC Credit has achieved strong growth, with a global business covering performing credit, credit opportunities/special situations, and private debt. The business is chaired by Hamish Buckland and led by Gretchen Bergstresser, Mark DeNatale and Tom Newberry.