Bielinski leaves CIT for AB Private Credit Investors

Bielinksi is a managing director at AB Private Credit Investors LLC, where he will lead the group’s middle-market lending efforts in restaurant, retail and franchising industries. Previously, he headed the restaurant industry practice within corporate finance at CIT.

“It’s a great opportunity for me because of the quality of the AB-PCI team, the amount of capital that’s already been raised and the flexible investment mandate,” Bielinski said in an email.

A CIT spokesman confirmed Bielinski’s departure. Burt Feinberg, president of CIT Commercial & Industrial, is managing the firm’s restaurant industry coverage, the spokesman said.

AllianceBernstein launched its private credit-investing platform last year with several former members of Barclays Private Credit Partners LLC, including Brent Humphries, former president of Barclays Private Credit.

AB Private Credit Investors provides direct lending to companies in the middle market. The group is part of AllianceBernstein, the asset management firm, that is 63 percent owned by AXA.

Last week, AB Private Credit closed its first fund with $1.1 billion in total commitments. Investors included public and private institutions, family offices and high net worth individuals, a statement said.

AB Private Credit, based in New York, currently has a staff of 15, but plans to expand, a spokesman said. It’s unclear how many people AB Private Credit is looking to hire.