Cliffwater’s company lending fund has accomplished a $760m (£599.7m) funding grade secured notes providing, to develop its portfolio of mid-market loans.
That is Cliffwater’s fifth privately-placed senior secured notes providing. The notes are secured by the fund’s belongings, and rank pari passu with its senior secured revolving credit score facility. The maturity dates are staggered from three to 12 years.
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As of 30 November 2023, Cliffwater’s company lending fund held over $14.8bn in internet belongings, up from roughly $12bn on the finish of June 2023.
It would use the proceeds from this most up-to-date providing to help continued portfolio development in keeping with the fund’s tempo of fairness inflows.
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The Cliffwater company lending fund was launched in Delaware in March 2019. It specialises in company center market lending, with a remit to speculate and co-invest “in a various set of loans originated by means of a number of high-calibre institutional lenders”.
Its purpose is to ship constant floating-rate earnings and principal safety by means of all environments with low worth volatility.
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