Providence Equity Partners Names Richard Byrne President Of Credit Investment Arm, Benefit Street Partners

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Providence, RI – March 19, 2013 – Providence Equity Partners, a leading global private equity firm with $28 billion in commitments, today announced that Richard Byrne will join the firm on April 1, 2013 as President of Benefit Street Partners, an affiliate of Providence Equity Capital Markets, the firm’s credit investment arm.

Mr. Byrne joins Benefit Street Partners from Deutsche Bank Securities, Inc., where he most recently served as Chief Executive Officer. He will be based in the firm’s New York office and report to Thomas Gahan, who established Providence’s credit investment platform in 2008 and serves as its Chief Executive Officer.

“Over the last five years, thanks to Tom’s leadership, we have built a strong credit investment platform which has a proven track record,” said Jonathan Nelson, Chief Executive Officer of Providence. “We believe the credit platform is an important complement to our core private equity investment operations and plan to continue to capitalize on the substantial opportunities in the global credit markets. We continually look to add high caliber talent and are pleased to welcome Rich to our credit investment team.”

“Rich brings a stellar track record of originating and executing significant global capital markets transactions,” said Mr. Gahan. “He also shares our vision of the rapidly expanding credit investment opportunities around the world. His insights into the capital markets, expertise in financing transactions and his network of relationships in the investment community all make Rich an exceptional addition to our team. We look forward to his contributions as we continue to grow our credit platform in the years ahead.”

Providence’s credit team currently manages over $4.5 billion in assets across several credit funds and tailored separate accounts. The credit platform’s investment capabilities include high yield bonds, long-short credit, senior secured debt, private debt/direct lending and structured credit

vehicles. The credit platform has 18 investment professionals based in the firm’s New York office.

“This is a unique opportunity for me to join Tom and a highly experienced management team with extensive credit markets experience and help them further expand their franchise,” said Mr. Byrne. “This is an exciting time to join the team, and I look forward to contributing to Benefit Street Partners’ continued success.”

Prior to serving as CEO of Deutsche Bank Securities, Inc., Mr. Byrne was Co-Head of Global Capital Markets at Deutsche Bank, which included underwriting and syndication of all equities, investment-grade and high yield bonds, and loans worldwide. He joined Deutsche Bank in 1999, helping the firm complete its acquisition of Bankers Trust, integrate the organizations and grow the bank’s leveraged finance franchise. Prior to Deutsche Bank, Mr. Byrne was Co-Head of the Global Leveraged Finance Group and Head of Global Credit Research at Merrill Lynch. He also was a perennially top-ranked credit analyst. Mr. Byrne earned an MBA from the Kellogg School of Management at Northwestern University and a BA from Binghamton University.

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