NXT Capital Bolsters Healthcare Coverage
Freeport Financial vet signs on as a managing director.
December 17, 2010
Chicago-based NXT Capital recruited Dave Allen to serve as a managing director in the firm’s corporate finance group. Allen will oversee the firm’s cash-flow lending activities in the healthcare sector.
Allen is arriving from Freeport Financial, a firmm he co-founded in 2004. At Freeport, Allen also oversaw the healthcare practice. As part of the move to NXT, he is bringing with him Freeport vet Joe Gambino, who will serve as a vice president.
Allen has put in nearly two decades of work in commercial finance. He spent time at Genentech and also served as an aid to a member of Congress before entering the debt space. He subsequently worked at City National, Heller Financial and GE Capital.
Gambino, meanwhile, worked at GE Capital before joining Freeport.
In a statement, NXT senior managing director and head of corporate finance John Finnerty noted that healthcare represents over 15% of the overall financing activity in the middle market.
The hiring should give NXT the manpower to compete with the likes of MidCap Financial, a commercial lender that focuses exclusively on the healthcare segment. Like NXT, MidCap’s senior leadership has lineage going back to Heller, GE Capital and Merrill Lynch Capital.
NXT’s CEO Robert Radway also has experience in the space, having served as group president of Heller Healthcare Finance for two years ending in 2000.
Dave Allen is based in the firm’s Chicago office.
For more information on related topics, visit the following:
