Moelis Hires Former BlackRock Innovation Head to Boost Private Placements

Moelis & Co. has hired former BlackRock innovation head Matt Singer to bolster its private capital raising advice business. Singer will focus on private placements by high-growth public companies and private credit. He previously oversaw a $1.1 billion portfolio at BlackRock and has experience at Goldman Sachs, Credit Suisse, and Bridgewater Associates. The hire signals Moelis' expansion into growth equity and private credit.

Moelis & Co. has bolstered its private capital raising advice business by hiring Matt Singer, the former innovation capital head at BlackRock Inc. Moelis Hires Former BlackRock Innovation Head for Privates Push^[1]. Singer will focus on private placements by high-growth public companies and private credit, as announced by the investment bank.

Singer's experience at BlackRock includes overseeing a $1.1 billion portfolio that provided growth equity financing to mid and late-stage venture-backed companies in sectors such as artificial intelligence, enterprise software, hardware, defense, and industrial technology Moelis Hires Former BlackRock Innovation Head for Privates Push^[1]. Before joining BlackRock, he originated more than $600 million of debt and equity investments at Goldman Sachs' business development company and previously worked at H.I.G. Capital, Credit Suisse, and Bridgewater Associates Moelis Hires Former BlackRock Innovation Head for Privates Push^[1].

Angus Whelchel, head of private capital markets at Moelis, stated that the hire signifies the bank's intent to build up its skill set around growth equity, in addition to private credit and private capital in general Moelis Hires Former BlackRock Innovation Head for Privates Push^[1]. This move underscores Moelis' expansion into growth equity and private credit markets.

Last week, Moelis acted as the sole placement agent on a $365.2 million registered direct offering of shares in BitMine Immersion Technologies Inc., with potential to raise another $913 million from future warrant exercises Moelis Hires Former BlackRock Innovation Head for Privates Push^[1]. All shares were sold to one institutional investor rather than via a broad public offering.

This strategic hire by Moelis is part of a broader trend in the financial sector where firms are increasingly focusing on growth equity and private credit to capitalize on the growing demand for alternative investment opportunities.