Kennedy Lewis Investment Management – a leading alternative credit manager – recently announced that it has closed on $4.1 billion for Kennedy Lewis Capital Partners Master Fund III LP and its associated parallel and co-investment vehicles.
The investors in Fund III include a diverse range of pensions, insurers, sovereign wealth funds, foundations and endowments from the U.S., Europe and the Middle East.
Fund III employs Kennedy Lewis’ all-weather opportunistic strategy – which focuses primarily on private investments in non-sponsored borrowers with attributes that make them countercyclical or less correlated to broader markets. And the strategy utilizes the firm’s deep sector expertise to pursue opportunities in industry verticals that are often underserved by traditional banks and lending platforms.
This include life sciences, power, technology, media and telecommunications, as well as cyclical industries and tactical opportunities where Kennedy Lewis can capitalize on dislocations to deliver attractive risk-adjusted returns for investors and value-added, bespoke capital solutions to borrowers. Along with its focus on private, first lien investments, Fund III is also able to invest in liquid instruments and across the capital structure.
Fund III includes exposure to Kennedy Lewis’ homebuilder finance strategy – which provides structured capital solutions to U.S. homebuilders to acquire land and complete horizontal development in a capital efficient manner that alleviates balance sheet demands and unlocks enterprise value.
Fund III is about 50% deployed, and the firm is pursuing a range of compelling opportunities across its verticals.
KEY QUOTES:
“We are pleased and humbled to see such strong interest in Fund III. Our go-anywhere approach, which leans into disruption and complexity, offers investors a differentiated return stream compared to more narrowly constructed credit offerings and we believe our track record across market cycles demonstrates its benefits for clients.”
— David K. Chene, Kennedy Lewis Co-Founder and Co-Managing Partner
“We appreciate the support from our global investor base and look forward to continuing to work diligently to invest their capital and help them achieve their investment goals. At the same time, we are proud of the value we bring to borrowers, many of whom address large market needs such as power generation and addressing the undersupply of housing in the U.S., through our partnership-oriented approach to crafting capital solutions tailored to their unique circumstances.”
— Darren L. Richman, Kennedy Lewis Co-Founder and Co-Managing Partner
