Silver Level Capital has raised over $8.5bn (£6.7bn) for its third direct lending fund, taking the quantity of investable capital the group has out there for the technique as much as $15bn.
The Speciality Credit score Fund III exceeded its preliminary goal, the corporate stated in an announcement, attracting new and current institutional buyers.
Learn extra: A bit of the pie: Particular report on direct lending
The Connecticut-based agency oversees $35bn in investable belongings throughout credit score methods. Its direct lending arm has organized $12bn in credit score services because the starting of 2023, together with the $450m refinancing of the excellent debt of Gopher Useful resource. Since inception in 2002, the agency has lent to greater than 400 middle-market corporations.
“The pipeline inside direct lending is robust and the forthcoming setting will proceed to offer for a wide selection of funding alternatives throughout a mixture of each sponsor and non-sponsor investments,” stated Anthony DiNello, the top of direct lending at Silver Level.
Silver Level was based by former Goldman Sachs companions Ed Mulé and Bob O’Shea.
“We thank our buyers, each new and current, for his or her sturdy backing of Specialty Credit score Fund III and their continued appreciation of our crew, technique, expertise and monitor document,” Mulé stated.
Learn extra: Goldman Sachs raises $20bn for senior direct lending technique
Learn extra: Ares closes largest direct lending fund up to now at $34bn