Babson picks two to replace Ahmed as private placement team manger

By Ashley Montgomery

Kansas City, Kan., June 12 - Babson Capital Management LLC appointed Emeka Onukwugha and Liz Perenick co-heads of the private placement team previously led by managing director Mark A. Ahmed, according to a news release.

The firm also announced Ahmed's retirement after 34 years with Babson and parent company MassMutual. Ahmed has managed the private placement team since 1998.

"Over the course of his exemplary 34-year career, Mark Ahmed's leadership was a critical factor in the growth and performance of Babson Capital's private placement team and MassMutual Asset Finance, both of which are appropriately regarded as leaders in their sectors," said Michael P. Hermsen, managing director and head of Babson Capital's global private finance group, in a news release.

"Thanks to the deep and talented private placement team that Mark worked so hard to develop, we expect a smooth and seamless transition as the team moves forward under the leadership of Emeka Onukwugha and Liz Perenick."

Both Onukwugha and Perenick have worked with Babson capital for more than 10 years. In addition to the private placement team, their new responsibilities will include spots on MassMutual Asset Finance's investment committee.

Babson is an investment management firm based in Boston, Springfield, Mass., and Charlotte, N.C.

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