|
Laxman Pai, Opalesque Asia for A Square: Freeport Financial Partners, a direct lending asset manager located in Chicago, IL, has closed its sixth direct lending fund with $2bn in investable capital raised.
The Freeport First Lien Loan Fund VI was oversubscribed, exceeding its initial target by more than $200m, with total equity commitments of $1.2bn and $800m in targeted leverage, said a press release from the US lower mid-market direct lending manager.
Investors included public and private pension plans and insurance companies as well as endowments and foundations across North America, Europe and Asia.
"We appreciate the positive response to our most recent fund from both our existing and new investors to achieve a diversified base of limited partners," said Josh Howie, Managing Director at Freeport.
The fund invests primarily in directly originated and independently underwritten senior-secured first lien, floating rate loans to private equity-owned US lower middle market companies that have EBITDA between $3m and $25m.
Over the past year, Fund VI has deployed approximately 25% of its capital across a diverse group of industries including business services, industrial components, and healthcare services, said the release.
As per the company website, Freeport's principals have invested together since 2005 and have provided $10.0 billion in loan commitments to more than 600 companies. Freeport became part of Moelis Asset Management LP in 2012 and i...................... To view our full article Click here
|
RSS
