Appointments anchor a senior team assembled to build the firm’s asset management platform

Ancient Capital, the asset management subsidiary of Ancient Financial, today announced the appointments of Imran Ahmed as Chief Investment Officer and Sonya Li as Managing Director. Both will report to Erich Schram, Chief Executive Officer of Ancient Financial and Ancient Capital.

Mr. Ahmed and Ms. Li are Ancient Capital’s most senior investment hires to date and will lead and build out its investment team going forward. As Chief Investment Officer, Mr. Ahmed will oversee investments and portfolio construction for the asset management business, including the management and allocation of the platform’s insurance balance sheet assets. Ms. Li will also pursue direct investments, with a focus on strategic investments and platform partnerships to grow the business.

The appointments follow a series of senior hires since the firm’s formal launch in March 2026, including Shannon O’Grady as Head of Capital Formation, Derrick Chin as Head of Operations, Steve Ruggeri as Head of Finance, and Peter Celebucki as Vice President. Together, the team reflects the platform’s ambition to build an institutional-caliber business from the ground up.

Erich Schram, Chief Executive Officer: "Ancient Capital is a rare opportunity to build an investment platform without legacy constraints, with the discipline of an institutional balance sheet behind it. Imran and Sonya are exactly the caliber of investor we set out to attract when we formed this business. Between them, they bring decades of experience underwriting investments, constructing portfolios, and driving strategic transactions at some of the most respected institutions in our industry."

Alexander Klabin, Chairman, Ancient Financial: "When we created Ancient Financial, we set out to build a platform with the institutional rigor and expertise to manage capital across insurance and asset management, and asked Erich to lead that vision. Imran and Sonya’s track records speak for themselves, and I’m confident they’ll play a central role in Ancient Capital’s growth in the years ahead."

Mr. Ahmed joins from Silver Rock Capital Partners, where he was responsible for portfolio construction, risk management, and the sourcing and underwriting of investments across corporate, structured, and asset-backed credit. He was previously a Managing Director at Blackstone where he worked for the Strategic Opportunities Fund.

Ms. Li joins from Blue Owl Capital, where she was a Managing Director within the Office of the Co CEOs and led strategic acquisitions including Blue Owl’s purchases of IPI Partners, Atalaya Capital Management, and Prima Capital Advisors. She has nearly two decades of experience in alternative credit, strategic transactions, and platform growth.

Mr. Schram is Chief Executive Officer of Ancient Financial and Ancient Capital. He was previously Head of Blackstone’s Insurance Portfolios within Blackstone Credit and an original partner of Blackstone Insurance Solutions, and prior to that served as Chief Investment Officer of Guggenheim Life and Annuity Company.

About Ancient Capital

Ancient Capital is the wholly-owned subsidiary of Ancient Financial, responsible for asset management across the platform’s insurance and third-party capital strategies.

About Ancient Financial

Ancient Financial, an affiliate of Ancient, is a financial services company focused on life and annuity reinsurance and asset management. The platform is structured to align the interests of investors, policyholders, and management, combining the stable earnings of an insurance business with the scalable, fee-based economics of an investment manager.

About Ancient

Founded by Alexander Klabin, Ancient is a long-term investor in unique and enduring businesses across both specialty finance and specialized services. The firm provides long-term capital and operational expertise to a focused group of platforms where it can drive transformative growth in partnership with visionary leaders.

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