April 18 (Reuters) - Peter Benoist, the former head of US distressed trading at Barclays, has set up Oakland Capital Partners to provide growth capital and management support to small businesses, according to sources.
Benoist and partners Mike Amann and Patrick McSwain started the St. Louis-based firm to target investments in US companies with earnings before interest, tax, depreciation and amortization (EBITDA) between zero and US$5m, the sources said.
The firm will initially focus on companies in the medical device and manufacturing spaces, sources said. It will look to do one to two new investments per year, with the intent of taking a majority position in a company, but may also look at minority investment opportunities.
Benoist’s father, Peter Benoist Sr., is expected to join the firm as an adviser following his retirement next month as president and chief executive officer of Enterprise Financial Services Corp., the banking and wealth management company that includes Enterprise Bank & Trust and Enterprise Trust Co., sources said.
Before joining Barclays in 2010, Benoist was head of loan trading in the Americas at Deutsche Bank. He left Barclays in 2015, according to FINRA BrokerCheck.
Benoist could not be reached for comment. (Reporting by Kristen Haunss; Editing by Jon Methven)