Comvest Credit Partners is acting as administrative agent and sole lender on a $220 million senior secured credit facility to Above Lending, a Houston-based provider of consumer loans that has been part of Comvest’s direct lending portfolio since 2021. The facility marks the second upsize to Comvest’s investment in Above Lending, which will use the financing toward ongoing operations and growth.
Above Lending focuses on debt settlement and debt consolidation programs that help individuals pay off debt. Comvest followed its initial $50 million investment in the company in 2021 with a $75 million upsize in 2022 and this recent $95 million follow-on commitment.
“Above Lending is a strong performer within the specialty finance sector,” Tim Kim, a managing director of Comvest Credit Partners and head of its specialty finance group, said. “Comvest continues to actively invest in well-positioned specialty finance companies and remains committed to providing meaningful add-on capital that supports the strategic growth objectives of our investments.”
