Deerpath Capital Management, a provider of cash-flow-based senior debt financing to sponsor-backed U.S. lower middle market companies, closed Deerpath Fund VII. The fund exceeded its $2 billion equity target and, together with anticipated leverage, is expected to support approximately $3.5 billion of total investable capital.
Fund VII continues the firm’s 18-year track record of financing private equity-backed businesses across diverse industries. Since inception in 2007, Deerpath has invested more than $14 billion across over 1,200 transactions, maintaining a consistent focus on lower middle market senior direct lending. The platform is further strengthened by Deerpath’s programmatic CLO issuance, which totaled $1.6 billion across three transactions in 2025.
“The success of Fund VII reflects the strong, long-term partnerships we’ve built with our global investor base,” Antonella Napolitano, global head of investor relations and capital formation for Deerpath, said. “Investors continue to value our disciplined underwriting, private equity-style diligence, careful monitoring and consistent performance throughout market cycles. We thank our partners for their continued trust and support.”
Fund VII received support from both existing and new investors, accepting commitments from over 70 limited partners in the U.S., Canada, UK, Germany, Switzerland and Korea.
