Siguler Guff & Firm has reported a file quarter of deal exercise throughout its ‘tactical credit score’ funding technique on the finish of final yr.
The technique focuses on non-public credit score throughout specialty finance and company lending, with the flexibleness to capitalise on market dislocations inside traded credit score.
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“We had been happy by the file tempo and vary of tactical credit score investments through the fourth quarter,” mentioned Michael Apfel, companion and head of credit score and particular conditions at Siguler Guff. “We’re presently discovering distinctive alternatives in asset-backed finance, lending to companies with lower than $50m (£40.4m) of EBITDA, and actual property lending, which we anticipate to proceed in 2025. With our versatile mandate, we’re lucky in that we are able to benefit from all market situations.”
Siguler Guff cited offers closed within the fourth quarter in its tactical credit score technique, together with its position as lead lender and administrative agent for a $54m senior secured credit score facility to help a non-public fairness agency’s acquisition of a supplier of asset-efficient auto logistics options for blue-chip auto producers. It was additionally sole lender and administrative agent for a $50m senior secured credit score facility to a digital transformation agency owned by an impartial sponsor and household workplace.
Nonetheless it didn’t disclose the general deal quantity.
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Moreover, the $18bn non-public markets asset supervisor reported a robust fundraising yr throughout its broader credit score platform, which raised over $1.2bn in new commitments over the past 12 months.
Throughout 2024, the agency additionally launched its first evergreen fund, Siguler Guff Tactical Credit score Evergreen Fund, which had its first closing in Could 2024 and has accepted further capital since then.
Drew Guff, co-managing companion and chief funding officer of Siguler Guff, added: “We consider the actual worth for traders in non-public markets shouldn’t be in more and more bigger and extra aggressive offers, however fairly in additional difficult-to-access niches, smaller corporations, and complicated conditions the place demand for capital is at a premium and risk-adjusted return profiles are superior.”
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