Silver Point Capital, a global credit investing firm, closed a Silver Point Specialty Credit Fund III, the latest fund in Silver Point’s 21-year-old direct lending franchise. Inclusive of new commitments to other direct lending vehicles made during the fundraising period, the total capital raised for Specialty Credit Fund III (with anticipated leverage) surpassed $8.5 billion.
In addition to other existing committed capital and anticipated leverage, Silver Point’s Direct Lending strategy now manages over $15 billion in investable capital. As a firm, Silver Point oversees $35 billion in investable assets across a comprehensive credit platform that includes public and private investment businesses.
Silver Point’s fundraise exceeded its initial target, attracting support from a diverse group of new and existing institutional investors from across the globe, including pensions, sovereign wealth funds, endowments, foundations, insurance companies and family offices.
“We thank our investors, both new and existing, for their strong backing of Specialty Credit Fund III and their continued appreciation of our team, strategy, experience and track record,” Ed Mulé, founding partner, portfolio manager and CEO of Silver Point, said. “We look forward to continuing to build upon the significant successes of our Direct Lending business, both for our LPs and our portfolio companies.”
“The pipeline within direct lending is strong and the forthcoming environment will continue to provide for a wide array of investment opportunities across a mix of both sponsor and non-sponsor investments,” Anthony DiNello, the head of direct lending at Silver Point, said. “We appreciate our investors’ recognition of Silver Point’s unique platform and differentiated strategy.”
