Percent, a private credit platform that has created the modern credit marketplace, formed a new partnership with a multibillion dollar, U.S.-based, alternative credit investment manager focused on uncorrelated income-generating assets in niche markets. This partnership established an asset-backed warehouse facility, enabling Percent to bring additional growth capital online and increase credit facility sizes for non-bank lending clients.
“Growth-stage lenders with strong origination pipelines are seeking Percent to take advantage of our private credit ecosystem. The timing on closing this committed warehouse capital couldn’t be better, as we support these originators through an institutional partner, which brings certainty of capital to our lender clients while also providing co-investment opportunities to our investor base,” Prath Reddy, president at Percent, said. “We’re thrilled that a sizable, credit-centric, asset manager of this caliber recognizes our deep understanding, experience and track record in private credit and chose to partner with us on this milestone transaction. After five years of providing debt capital solutions to the lower middle market, Percent continues to attract early-stage lenders with promising growth prospects.”
With the close of this facility, Percent will continue to provide debt capital to an underserved sub sector of financial services, namely tech-enabled non-bank lenders, who are capital constrained and ineligible to tap into financing through traditional banks and credit funds. This committed capital is dedicated to scaling the lending portfolios of both established and relatively new originator clients of Percent’s platform and further widens the scope of how Percent supports its client base.