Albertsons Appoints Shant Babikian to Board of Directors

The board of directors at Albertsons Cos. has appointed Shant Babikian, a managing director of HPS Investment Partners, to a board seat effective immediately.

Babikian is managing director of HPS Investment Partners, an entity whose affiliates hold 584,000 shares of its Series A preferred stock. His term will expire at the company’s 2021 annual meeting of stockholders, or until his successor is duly elected and qualified, the Boise, Idaho-based retailer said in a filing.

Babikian was appointed to the board pursuant to HPS’ director designation right pursuant to its investment agreement. Babikian is expected to enter into an indemnification agreement with the company.

Prior to joining HPS in 2014, Babikian was VP of Oaktree Capital Management, where he focused on investing in privately structured debt and equity transactions. Prior to joining Oaktree, Babikian was an analyst in JPMorgan’s Syndicated and Leveraged Finance Group. Babikian also serves on the boards of a number of privately held companies.