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Laxman Pai, Opalesque Asia: 17Capital, the world's largest dedicated NAV finance provider, has announced the final close of its 17Capital Strategic Lending Fund 6 with approximately $5.5bn of commitments, including co-investment and affiliated vehicles.
The fund follows its predecessor, 17Capital Fund 5, which closed at $2.9bn in July 2021, and is one of the five largest private credit funds closed so far this year. The Firm has now raised $19 billion since its inception.
According to a media release from the private credit manager, Fund 6 attracted a global, blue-chip investor base comprising pension funds, insurance companies, sovereign wealth funds, prominent family offices and endowments across North America, Europe, the Middle East and Asia.
"The strength of the support from investors demonstrates the success and acceptance of NAV finance within the private equity industry. It also marks the first fund raised by 17Capital since forming its strategic partnership with global credit specialist Oaktree," the release added.
Pierre-Antoine de Selancy, Managing Partner at 17Capital, said: "We are grateful to our investors for their continued trust and support. Reaching the hard cap for Strategic Lending Fund 6 is a significant milestone for 17Capital in our 17th year. It reinforces our position as a leading provider of NAV finance. It enables us to keep supporting high-quality private equity managers as they increasingly use NAV finance at the management co...................... To view our full article Click here
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