Sat, Apr 30, 2016
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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n