Arini appoints Ben Kunstler head of hybrid capital

Arini appointed Ben Kunstler as head of hybrid capital and added him to its private credit investment committees. Kunstler joins from Bain Capital, where he spent 18 years as a partner in the firm’s European private equity business.

He will lead development of Arini’s hybrid capital strategy, working across the firm’s public and private credit teams. The role includes sourcing and executing financings that combine features of equity and debt and can be structured at different points of the capital stack.

Hamza Lemssouguer, Arini’s founder and chief investment officer, described Kunstler as bringing ‘a private equity investor’s perspective to Arini’s credit investing capabilities.’ He indicated senior staff will draw on Kunstler’s experience to expand the range of financing options available to companies and sponsors.

Arini added that current market conditions are creating opportunities for managers that provide flexible, long-term capital as borrowers and sponsors seek alternatives to traditional bank finance and standard loan structures. The firm said the hybrid capital strategy will enable structuring across mezzanine, preferred equity and other hybrid instruments.

Founded in 2021, Arini manages more than $20 billion in assets and has built strategies spanning public and private credit. Kunstler will focus on developing the hybrid product set and participate in investment committee decisions for private credit opportunities.