Lead Left Interview – Lawrence E. Golub

This week we speak with Lawrence E. Golub, CEO of Golub Capital. Golub is a nationally recognized credit asset manager with over $10 billion of capital under management and four complementary business lines: Middle Market Lending, Late Stage Lending, Broadly Syndicated Loans and Opportunistic Credit.

The Lead Left: Lawrence, what is the best way to think about Golub Capital’s scale today?

Lawrence Golub: Using the Thompson Reuters definition of traditional middle market LBO loans, we have been the number 1 bookrunner for the past four years in a row by number of deals.  In larger middle market LBO loans up to $500 million, we have been number one for two years in a row, after a few years before that at number 2 or 3.  In the first nine months of this year, we have sole agented or lead left agented 6 disclosed deals over $200 million each, with the largest about $350 million. We have a $10+ billion balance sheet. Our hold size is up to $250 million per borrower.

TLL: Tell the story, if you will, how Golub got to where it is today. 

LG: Randy, to set the scene for that, twelve years ago, as the recovery from the 2000-2001 dot com recession was gathering steam,