Kennedy Lewis Investment Management, an alternative credit manager, closed on $4.1 billion for Kennedy Lewis Capital Partners Master Fund III LP and its associated parallel and co-investment vehicles (Fund III). Investors in Fund III include a range of pensions, insurers, sovereign wealth funds, foundations and endowments from the U.S., Europe and the Middle East.
Fund III employs Kennedy Lewis’ strategy which focuses primarily on private investments in non-sponsored borrowers with attributes that make them countercyclical or less correlated to broader markets. The strategy pursues opportunities in industries such as life sciences, power, technology, and media and telecommunications. In addition to its focus on private, first lien investments, Fund III is also able to invest in liquid instruments and across the capital structure.
Fund III includes exposure to Kennedy Lewis’ homebuilder finance strategy which provides structured capital solutions to U.S. homebuilders to acquire land and complete horizontal development in a capital efficient manner that alleviates balance sheet demands and unlocks enterprise value.
“We are pleased and humbled to see such strong interest in Fund III,” David K. Chene, co-founder and co-managing partner of Kennedy Lewis, said. “Our go-anywhere approach, which leans into disruption and complexity, offers investors a differentiated return stream compared to more narrowly constructed credit offerings, and we believe our track record across market cycles demonstrates its benefits for clients.”
“We appreciate the support from our global investor base and look forward to continuing to work diligently to invest their capital and help them achieve their investment goals,” Darren L. Richman, co-founder and co-managing partner of Kennedy Lewis, said. “At the same time, we are proud of the value we bring to borrowers, many of whom address large market needs, such as power generation and addressing the undersupply of housing in the U.S., through our partnership-oriented approach to crafting capital solutions tailored to their unique circumstances.”
Fund III is approximately 50% deployed, and Kennedy Lewis is pursuing a range of opportunities across its verticals.
