Steenkamp will not vanish from the firm entirely. He is set to transition into a consulting capacity while maintaining his responsibilities as chief financial officer for Saratoga’s SBIC subsidiaries. The firm is managing this leadership shuffle through a series of internal promotions effective upon his exit.

Rochelle Kracoff, who joined the firm in 2017 following a tenure at Visium Asset Management, will step into the roles of chief compliance officer and secretary. Christine Ramdihal, previously the company’s controller, earns the titles of chief accounting officer and treasurer, effectively becoming the principal financial officer. Additionally, James Soltesz, an existing investment manager, takes on an expanded remit as vice president of capital markets to oversee balance sheet management.