Peter Benoist, the former head of US distressed trading at Barclays, has set up Oakland Capital Partners to provide growth capital and management support to small businesses, according to sources.
Reuters report that Benoist and partners Mike Amann and Patrick McSwain started the St. Louis-based firm to target investments in US companies with earnings before interest, tax, depreciation and amortization (EBITDA) between zero and US$5m, the sources said.
In the meantime, Bloomberg News reports that RBC Capital Markets has hired new co-heads of biotechnology research and added two managing directors to its growing health-care investment banking team.
Brian Abrahams and Kennen MacKay will lead the biotechnology research division, following the departure of former RBC biotech research head Michael Yee. Abrahams is joining from Jefferies, and MacKay was an analyst at Credit Suisse.