Beach Point Capital Management LP (“Beach Point”), a diversified alternative asset manager, today announced the close of over $1.25 billion of capital commitments across both BPC Opportunities Fund V LP (the “Opportunities Fund V”) and BPC Real Estate Debt Fund (“BPRED”), which raised over $750 million and $545 million of investable capital, respectively. The investors in both funds represent a wide range of sophisticated global institutions including pensions, insurance companies, family offices, sovereign wealth funds, foundations and endowments, among others.
Opportunities Fund V is Beach Point‘s largest Opportunities Fund since the strategy was established in 2010 to flexibly invest across the full range of middle market opportunistic private credit, including investing in complex businesses, highly structured transactions and temporary market or company dislocations. Since then, Beach Point has nimbly and successfully invested more than $5 billion through this strategy in sectors including opportunistic direct lending, capital solutions, asset-backed and special situations.
BPRED is Beach Point‘s first dedicated real estate fund, building on the firm’s strong history of investing across private and public real estate capital structures in its diversified funds, and pursues a flexible, all-weather approach to investing across the United States’ middle market. The fund’s strategy spans directly originating loans, seeking to opportunistically purchase debt at compelling discounts to intrinsic value, and special situations that may provide additional equity upside.
Michael Haynes, Head of Private Credit at Beach Point, said: “These fund closings demonstrate Beach Point’s continued momentum across private markets and the attractiveness of our agile, value-oriented and creative approach. In our view, by leveraging our broad networks, experience investing across performing and distressed credit, and in-house legal and structuring expertise, we are well positioned to continue locating, unlocking and creating value on behalf of our investors.”
Both funds are already well into deployment, with BPRED 56% deployed and Opportunities Fund V approximately 50% deployed as they target what the firm sees as attractive market conditions for their flexible investment mandates.
For more information about Beach Point Capital’s private credit strategies and investment approach, visit their website.
