Thu, Jan 19, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

FrontPoint-SJC Direct Lending Fund closes with commitments exceeding $1bn

Thursday, January 06, 2011
Opalesque Industry Update - FrontPoint Partners LLC (“FrontPoint” or “FPP”) today announced the final close for the FrontPoint-SJC Direct Lending Fund, L.P. (“FSJC” or the “Fund”) with total commitments of more than $1 billion. The Fund’s strategy focuses on providing privately negotiated senior secured loans to U.S. middle market companies that generate annual revenue of $75 - $500 million and annual EBITDA of $7.5 - $50 million. To date, the Fund has invested approximately $165 million.

Steve Czech, FSJC Founder and Portfolio Manager, said, “U.S. middle-market businesses have been left with relatively few financing sources as numerous middle market direct lenders have either exited the direct lending business or are gravitating towards larger borrowers for both strategic and regulatory reasons. FSJC plans to fill that void for creditworthy businesses in need of secured debt that is required to expand their businesses and increase their hiring."

The FSJC team provides privately negotiated senior secured loans that would not typically attract the attention of conventional banks, commercial finance companies, collateralized loan obligation managers, hedge funds and mezzanine investors. Czech and his team average 23 years of leveraged lending, corporate finance and restructuring experience across numerous industries and companies. FSJC’s investment team, based in Greenwich, CT, has loan sourcing offices in Los Angeles and Chicago.

“We believe the FSJC direct lending fund provides our clients with the opportunity to benefit from the structural change in the way companies access credit. We are particularly pleased with the success of this fund given the current market and fundraising environment. This is FrontPoint’s largest fund launch ever and it has attracted a diverse set of institutional investors including domestic and international pension funds, endowments, foundations, family offices and high net worth individuals,” said Dan Waters, Co-CEO of FrontPoint.

“Steve and his team are ideally positioned to take advantage of the significant dislocation in the direct lending market. In addition, the Fund offers FrontPoint’s investors a true portfolio diversifier with a proven long-term investment track record,” said Mike Kelly, Co-CEO of FrontPoint.

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised