(Bloomberg) — Shenkman Capital Management has appointed former professional basketball player and entrepreneur Jay Williams to its board of directors as the firm looks to expand its presence managing the wealth of high-net-worth individuals.
Williams joined the board Wednesday, according to a statement from Shenkman. Williams, a former Chicago Bulls basketball player who was the second overall pick in the 2002 NBA draft, co-founded Simatree, a strategic advisory firm focused on data, analytics and technology consultation. He is also an analyst for ESPN’s basketball programs NBA Countdown and College GameDay.
“He has built quite a network of high-net-worth and wealth management relationships,” said Justin Slatky, board member and chief investment officer at the firm. “That’s a side of the market place where we’ve devoted additional focus and resources. It will be a big area of growth.”
Shenkman, which has $30 billion in assets under management, specializes in the leveraged finance markets. The firm employs a variety of strategies, including investments in high-yield, senior secured loans and collateralized loan obligations. It primarily works with institutional investors.
The other members of the board include founder Mark Shenkman, Victor Rosenzweig and Gloria Penn Thomas.