Pathlight Capital closed its third fund, Pathlight Capital Fund III LP (Fund III) as well as the initial tranche of its Evergreen vertical, Pathlight Capital Evergreen Fund LP. The parallel fund entities secured a combined $860.3 million of capital commitments.
Pathlight Capital hired Laura Hegarty as managing director of investor relations. Prior to Pathlight, Laura served as managing director at Eaton Partners/Stifel, where she covered the West Coast and Texas, specializing in distributing private credit and hedge funds.
Pathlight Capital closed a $133.5 million upsize to the existing senior secured term loan credit facility to a Franchise Group affiliated special purpose vehicle to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock Corporation, a home-furnishing retailer
Comvest Credit Partners, a provider of direct financing solutions to middle-market companies, is acting as administrative agent on an upsized $635 million senior credit facility for Beyond Finance, a U.S.-based provider of fee-based debt resolution services.
Pathlight Capital is serving as the administrative agent on a $135 million senior secured term facility for Designer Brands, a designer, producer and retailer of footwear and accessories in North America.
Pathlight Capital is serving as administrative agent on a recently funded $30 million first in, last out term facility for Vericast, an advertising services company, which will use proceeds from the facility to provide additional liquidity for ongoing working capital needs.
Pathlight Capital closed a $78.3 million upsize to the existing senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock.
Pathlight Capital is serving as the administrative agent on a $148.2 million senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial to support the acquisition of a portfolio of performing receivables from W.S. Badcock Corporation.
Pathlight Capital is serving as the documentation agent on a $400 million senior secured delayed-draw term loan facility to Beyond Finance, a provider of success fee-based debt resolution services.
Armstrong Flooring received approval from the U.S. Bankruptcy Court for the District of Delaware to access its consensual debtor-in-possession (DIP) financing totaling $24 million in net new money.