- RBC Capital Markets has hired Matt Lynn as it looks to increase its TMT deals business.
- Lynn was most recently a managing director of leveraged finance for Bank of America.
- He helped fund this year’s $34 billion Medline acquisition by private equity firms like Blackstone.
RBC Capital Markets, which recently advised Apollo on its $5 billion purchase of Verizon Media, has snagged a managing director from Bank of America to help boost its dealmaking with tech, media, and telecom companies.
Matthew Lynn will join the Canadian bank in February next year in a new role focused on so-called TMT deals in the leveraged-finance market, an asset class known for financing acquisitions by private equity firms, two sources familiar with the move told Insider.
Lynn, who left BofA this month, had been with the US lender since 2005, where he’s worked in leveraged finance in Chicago, New York, and London.
Spokespersons for RBC and BofA declined to comment.
RBC has made strides in the TMT space this year, having led Apollo’s $5 billion purchase of Verizon Media, a deal that included Yahoo and AOL in May.
The bank is also in the market this month with a $525 million leveraged loan for software company Motus, a source familiar with the transaction said. Proceeds from the loan will support private-equity firm Permira’s investment in the company, alongside existing private-equity owner Thoma Bravo, a buyout shop known for making hefty investments in tech companies.
At BofA, Lynn was part of the leveraged-finance team that led the roughly $34 billion acquisition of Medline, the healthcare supplier that was bought by Blackstone, the Carlyle Group, and Hellman & Friedman in June.
That acquisition, the largest private-equity-led buyout since the housing crisis of 2007-2008, was supported by about $15 billion in debt from the capital markets last month.