|
Laxman Pai, Opalesque Asia: PineBridge Investments, a private, global asset manager focused on active, high-conviction investing, has collected $1.36 billion for a private credit fund set up to provide capital to U.S. companies, significantly exceeding a $1 billion target for the pool.
According to a media release from the private investment firm, fundraising for the vehicle, PineBridge Private Credit III, wrapped up on Jan. 30, marking the completion of the firm's third capital drive for the strategy and bringing the total amount raised for its private credit funds to $5 billion, including leverage and separately managed accounts.
Fund III will focus on making directly originated senior secured loans to US-based, sponsor-backed lower-middle-market companies, largely in the business services, consumer, healthcare, and specialty manufacturing sectors, said the release. Loans are typically provided to companies with EBITDA ranging from $7.5 million to $30 million.
Led by Jim Fisher (Head of Private Credit), Doug Lyons, Brian Senatore, and Joe Taylor, the Private Credit team has committed $4.5 billion of capital to 79 portfolio companies to date, many with long-seasoned private equity sponsor relationships.
"We are very excited to have our Private Credit III fundraise cross the finish line oversubscribed, hitting $1.7 billion," said Jim Fisher, Head of Private Credit at PineBridge Investments.
"This level marks a watershed moment for our platform's growth...................... To view our full article Click here
|
RSS
