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Hugh Wade said: "Today's news is the result of our long-term succession planning process. I am extremely confident in the leadership and vision that Chris will bring to guide Madison Capital Funding into a new phase of growth. He is the right person to build upon our long track record of putting insights and experience to work in meeting the financing needs of middle market private equity sponsors."

Mr. Taylor, who joined Madison Capital Funding in 2005, is a member of the senior leadership team and investment committee, and leads the firm's new business development team. Effective immediately, Mr. Taylor will also assume responsibility for the capital markets and finance functions. Since joining the firm, Mr. Taylor has held various positions within the organization including underwriting, portfolio management and distressed credit. Prior to Madison Capital Funding, he worked in the international tax services group at Deloitte. Mr. Taylor earned a B.S. in Accountancy and a M.S. in Taxation from the University of Illinois at Urbana-Champaign.

Mr. Wade co-founded Madison Capital Funding in 2001, and since then the firm has invested more than $28 billion to meet the financing needs of middle market private equity sponsors. Today the firm has $8.7 billion in assets under management and serves as a value-added partner to 285 private equity sponsors, providing them with reliable financing solutions.

Mr. Taylor said: "I look forward to the opportunity to lead the strong and successful business Hugh built at a time of such growth and potential. In a highly competitive environment, private equity sponsors will increasingly need access to the in-depth industry expertise, decades of experience and solid financial backing that Madison Capital Funding is known for. I am fortunate to be surrounded by one of the most talented team of professionals in our industry who will work collaboratively to continue to drive our business forward for many years to come."

Yie-Hsin Hung, chief executive officer of New York Life Investment Management commented on the transition: "We are delighted to announce Chris Taylor as Hugh Wade's successor. Hugh is a well-respected leader in the private equity financing market, and his work at Madison Capital Funding will leave a lasting legacy across the industry. We thank Hugh for his dedication to the business. As the firm moves into its next phase of growth, we are confident Chris brings the energy, knowledge and experience needed to capitalize on today's strong industry fundamentals, and to continue to deliver strong outcomes for our clients."