Petra Funds Group, an independent private funds administrator, has hired Adam Weiss as managing director and head of credit.

Weiss will use his experience to offer Petra clients a best-in-class loan portfolio monitoring process tailored to track loan covenants, interest rate step-ups, post-closing obligations, financing reporting accuracy, borrowers’ overall health and other needs. He previously served as COO of credit for Riverstone Holdings, where he provided management and product experience and led the efforts to improve the firm’s credit offerings. While at Riverstone, he assisted in developing a portfolio monitoring and risk management framework.

“Adam’s experience combined with the secular shifts towards private credit creates an opportunity to expand Petra’s credit fund administration offering and deliver institutional-grade solutions for managers,” states Stephen Coats, managing partner.