Northleaf Capital Companions has raised greater than $1bn (£0.79bn) on the closing closing of its third credit score fund, Northleaf Personal Credit score III (NPC III).
NPC III follows a worldwide cross capital construction, and its technique is to give attention to mid-market non-public equity-backed lending and asset-based specialty finance investments, with flexibility to pursue relative worth throughout senior and junior loans.
It has already invested greater than 40 per cent of its capital right into a diversified portfolio of investments with sturdy contractual money yield, conservatively levered capital constructions, and strong lender protections.
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“NPC III has a singular worth proposition for buyers with a give attention to delivering sturdy risk-adjusted returns by investing throughout the capital construction in mid-market non-public equity-backed firms and asset-based specialty finance portfolios,” stated David Ross, managing director and head of personal credit score at Northleaf.
“Our built-in, international non-public markets platform and longstanding non-public fairness sponsor relationships present informational benefits and differentiated entry for our buyers.”
The cash was raised in capital commitments for the fund and individually managed accounts that make investments alongside the fund. The closing additionally included a rated observe that was structured to satisfy the wants of insurance coverage firms investing within the fund.
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“This closing marks one other important milestone for our international non-public credit score technique, and we respect and worth the help from each new and present buyers,” added Stuart Waugh, managing companion of Northleaf.
“We anticipate our buyers to proceed to learn from the versatile, international technique, differentiated deal sourcing, energetic portfolio building and efficient threat administration that underpins our non-public credit score program.”
So far, Northleaf has raised greater than $6.5bn in capital commitments.
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