LBC Credit Partners (LBC) closed LBC Credit Partners IV, (LBC IV) with $743.5 million of equity capital commitments, exceeding its target of $600 million. Including related funds raised contemporaneously, LBC has closed on an aggregate of $1.2 billion of equity capital commitments, meeting its hard cap. LBC also raised $800 million in long-term debt commitments for its fourth fund platform. The debt facilities are expected to increase over time.
LBC was supported by its existing investor base and secured additional support from several new institutional partners.
“We appreciate the strong support we received from our investors,” said John Brignola, managing partner. “The successful capital raise further validates our disciplined, cycle-tested investment strategy that we have been executing over the last 12 years.”
LBC IV and its related funds will continue LBC’s strategy of originating, executing and managing a diversified portfolio of direct loans and investments in U.S. middle market companies across a broad range of industry sectors. The firm has invested over $4.5 billion since its inception.
“Our team of experienced investment professionals, with an average tenure at LBC of over nine years, will continue to deliver customized financing solutions to middle market companies and private equity groups. In conjunction with our broad product offering ranging from senior secured loans to mezzanine debt, we offer the certainty of execution, financial stability and patient capital that our borrowers and their sponsors expect,” Brignola added.