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Cerberus Capital Management raises $4.4bn for mid-market direct lending strategy

Thursday, March 11, 2021

Laxman Pai, Opalesque Asia:

Distressed investment specialist Cerberus Capital Management has hauled in $4.4bn for its latest middle-market direct lending strategy.

The American private equity firm said in a press release that its middle-market direct lending platform, Cerberus Business Finance closed the Cerberus Levered Loan Opportunities Fund IV with $2.4 billion of equity commitments and, in total, raised more than $4.4 billion of equity commitments for its strategy across Fund IV and separately managed accounts.

"Together with additional fund-level leverage commitments, this raise brings Cerberus Business Finance's total capital to over $20 billion, said the company with approximately $50 billion in assets across complementary credit, private equity, and real estate strategies.

Cerberus Business Finance's latest fundraise represents the continuation of its loan opportunities strategy, which seeks to provide financing solutions to U.S. middle-market companies across diverse industries, said the release.

Fund IV and additional commitments received are from new and existing investors that include government and corporate pensions, sovereign wealth funds, endowments, insurance companies, banks, asset managers, family offices, foundations, non-profit organizations, fund of funds, and high net worth individuals.

"The close of Fund IV is the latest milestone for our direct lending platform," said Daniel Wolf, Chief Executive Officer of Cerberus Business F......................

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