Global credit investing firm Silver Point Capital announced the final close of its latest opportunistic credit fund, which had $4.6 billion in total commitments. This exceeded the $4 billion target and more than doubled the size of its 2019 predecessor fund, which closed at $1.7 billion.
This fund will invest in cyclically driven market dislocations, including traded credit, restructuring, and process-oriented investments, through a longer-locked, drawdown structure. Its global and opportunistic mandate extends across geographies, market capitalizations, capital structures, and industries. This fund benefits from Silver Point’s 22-year track record of investing across multiple credit cycles and the firm’s deep, integrated team of more than 320 investment and infrastructure employees.
Silver Point now manages over $6 billion across its opportunistic credit funds and approximately $16 billion in special situations overall. And with the fund’s closing, Silver Point manages about $31 billion of investable assets in total across multiple integrated strategies, including direct lending and structured credit.
KEY QUOTES:
“We are grateful for the strong support we received from existing and new investors for the Fund, which will seek to capitalize on what we believe will be an attractive opportunity set in the coming years. With the new fund, which is highly complementary with our flagship hedge funds, our team will have even greater flexibility and increased scale to invest in the type of unique situations – including complex restructurings and process-oriented investments – where the firm has long been a market leader.”
– Ed Mulé, Silver Point Capital’s Founding Partner, Chief Executive Officer & Portfolio Manager
