Antares Slashes Headcount in Half on Debt Capital Markets Team

Credit fund Antares Capital is cutting more than half of a team that arranges debt financing for companies amid fierce competition in the private credit industry and a dwindling number of M&A transactions, according to people familiar with the matter.

The credit-focused asset manager, which had employed around a dozen people in its debt capital markets team, will continue to serve the roughly 400 borrowers that Antares maintains, one of the people said. Todd Davis, senior vice president in sales and Michael Elizondo, a vice president, are among outgoing staff, the person said.

The remaining team will be ...