Blue Torch Capital Closes $2.3B Credit Opportunities Fund

Blue Torch Capital, a New York-based private credit investment firm, closed Blue Torch Credit Opportunities Fund III and its affiliated entities with total investor commitments of $2.3 billion, exceeding its $2 billion target.

April 11, 2024 Blue Torch Capital Phil Neuffer

European Credit Funds Have Equitized 61 Private Equity Backed Deals Since 2018

According to analysis from Debtwire, since 2018, European credit funds have fully or partially equitized at least 61 loans provided to companies backed by private equity firms, but only five have been fully realized, leaving debt funds with 56 equity positions on their books at a time when exits are at a three-year low.

March 28, 2024 Debtwire Phil Neuffer

The Evolution of Material Adverse Effect Provisions in Credit Agreements

The use of the term material adverse effect within asset-based lending agreements has a long history. Jaime Rachel Koff and Lon M. Singer provide an introduction to the term and how it was originally used and then take us through more recent history and how its use has changed, particularly during the COVID-19 pandemic.

June 17, 2021 Jaime Rachel Koff | Lon M. Singer | Riemer & Braunstein LLP Ian Koplin

Ares Closes $3.7B Pathfinder Alternative Credit Fund

Ares Management  closed its Ares Pathfinder Fund, L.P. With $3.7 billion in total commitments closed, the fund was significantly oversubscribed at its hard cap and exceeded its original target of $2 billion.

March 16, 2021 Ares Alternative Credit | Ares Management | Ares Pathfinder Fund | Joel Holsinger | Keith Ashton | Kipp deVeer | L.P. Rita Garwood

NXT Capital Closes $1B Middle Market Direct Lending Fund

NXT Capital closed NXT Capital Senior Loan Fund VI, which will have approximately $1 billion in fund capacity from equity commitments combined with expected leverage.

March 12, 2021 John Finnerty | NXT Capital Phil Neuffer

Sixth Street Closes Second Fund for Direct Lending in Europe at $1.23B Hard Cap

Sixth Street closed its second fund dedicated to direct lending for middle market and growth companies across Europe. Sixth Street Specialty Lending Europe II (SLE II) reached its hard cap with €1 billion ($1.23 billion) in equity commitments.

January 8, 2021 Direct Lending | Joshua Easterly | Michael Griffin | Sixth Street | Sixth Street Specialty Lending | Sixth Street Specialty Lending Europe II Phil Neuffer

Marathon Asset Management Closes $2.5B Distressed Fund

Marathon Asset Management closed its Marathon distressed credit fund, which was oversubscribed with approximately $2.5 billion in commitments. The fund will pursue opportunities such as restructurings, debtor-in-possession financings and exit financings.

January 8, 2021 Bruce Richards | credit funds | distressed credit | Jason Friedman | Louis Hanover | Marathon Asset Management Phil Neuffer

Dalton to Lead Newly Launched Private Credit Fund Focused on Middle-Market

FrontWell Capital Partners launched as a private credit fund focused on providing transitionary senior debt financing to middle-market companies in the U.S. and Canada. FrontWell is led by Patrick Dalton as CEO and John Ho as CFO.

September 21, 2020 FrontWell Capital Partners | John Ho | Patrick Dalton Rita Garwood

Francisco Partners Closes on $750MM Credit Fund

Francisco Partners closed on FP Credit Partners, a $750 million opportunistic credit fund focused on the technology credit market.

June 10, 2020 Andrew Brown | Dipanjan Deb | Francisco Partners | Scott Eisenberg | Simpson Thacher & Bartlett Phil Neuffer

Solar Capital Partners Closes $525MM to Latest Private Credit Funds

Solar Capital Partners held the final closings of its SCP Private Corporate Lending Fund LP, SCP Cayman Debt Fund LP and SCP SF Debt Fund LP. More than $525 million of equity capital is committed to these new funds, primarily by institutional investors.

March 11, 2020 Bruce Spohler | Michael Gross | Solar Capital Partners Phil Neuffer