Miami-based WhiteHorse Finance, a business development company managed by HIG Capital affiliate HIG WhiteHorse Advisers, promoted Gerhard Lombard to chief financial officer and treasurer.
Lombard, 40, is currently the group’s finance's controller. He joined the firm in September 2012 prior to the company's initial public offering, which occurred in December of that year. Before that he was group controller for Churchill Financial Group as well as a senior manager at Ernst & Young.
He replaces current WhiteHorse CFO and treasurer Alastair Merrick, who is stepping down to “pursue other opportunities,” according to a statement. A spokesperson for WhiteHorse was not immediately available for comment.
Merrick will remain with the firm as a consultant until the end of 2014 in order to “ensure an orderly transition.”
WhiteHorse Finance originates senior secured loans between $10 million to $50 million in small-cap US companies with enterprise values of $50 million to $350 million, according to its website.
Its parent, HIG Capital, manages some $13 billion of capital through leveraged buyout, credit-oriented and growth capital funds focused on the small-cap market.