News

Chicago-based investment firm launches division to meet complex investment needs for insurers

CHICAGO, November 14, 2018 – Victory Park Capital (“VPC”), a leading investment firm based in Chicago, announced that Connell Hasten and Joshua Platek have been hired to lead the firm’s new insurance services division. Hasten, who joins as partner, and Platek, who has been appointed vice president, will serve as co-founders of the insurance services platform, primarily responsible for sourcing, underwriting, executing and managing investment opportunities for insurers.

“Connell and Joshua bring a breadth of insurance industry expertise that will give our firm a definitive advantage as we grow our investment management offerings,” said Richard Levy, founder and CEO of Victory Park Capital.

“Their knowledge of the industry’s complexities, compliance standards and regulatory requirements will enable us to continue identifying top investment opportunities and creating long-term, sustainable value for partners and investors,” added Brendan Carroll, co-founder and senior partner at the firm.

Hasten brings over a decade of industry experience to VPC. He was previously a managing director at EquiTrust Life Insurance Company, an insurance company with approximately $20 billion in assets, where he oversaw a large portion of private and public debt and equity investments. Prior to joining EquiTrust, he was a director at Guggenheim Partners and served as a portfolio manager, primarily responsible for investment portfolios on behalf of insurance companies. Previously, Hasten was a vice president at Bank of America in the special situations and real estate lending groups. He earned his B.S. from Indiana University’s Kelley School of Business and his MBA from Northwestern University’s Kellogg School of Management.

Platek joins VPC from EquiTrust Life Insurance Company, where he co-managed a private debt and structured credit investment portfolio as a vice president. Prior to EquiTrust, Platek worked at Maranon Capital, a Chicago-based provider of senior financing, mezzanine debt and equity for middle market transactions. He started his career at Paul Capital, a New York-based private equity fund. Platek received a BBA in finance and economics from the University of Notre Dame and an MBA from the University of Chicago Booth School of Business, and he is a CFA charterholder.

“Victory Park Capital is an established leader in middle market debt and equity investments with a proven ability to generate attractive returns,” said Hasten. “This new platform will enhance the firm’s existing investment expertise and offer a one-stop investment management solution customized for insurance companies.”

Both Hasten and Platek joined VPC in November and are based in the firm’s Chicago office.