Global credit investing firm Silver Point Capital announced the final closing of Silver Point Specialty Credit Fund III, the latest fund in Silver Point’s 21-year-old Direct Lending franchise. Inclusive of new commitments to other direct lending vehicles made during the period, the total capital raised for Specialty Credit Fund III (with anticipated leverage) surpassed $8.5 billion.
Silver Point’s Direct Lending strategy now manages over $15 billion in investable capital along with other committed capital and anticipated leverage. And as a firm, Silver Point oversees $35 billion in investable assets across a comprehensive credit platform that includes public and private investment businesses.
Silver Point’s Direct Lending strategy focuses on self-originated and senior secured loans to middle-market companies (sponsor and non-sponsor) where the firm is able to utilize its experience, broad and differentiated sourcing platform, underwriting expertise and ability to move quickly, creatively and definitively to solve borrower needs.
Since launching in 2002, Silver Point has provided financing solutions to more than 400 middle-market companies. With the growth of its balance sheet for Direct Lending, Silver Point has agented or arranged over $12 billion in credit facilities since the start of last year.
This includes lead or co-lead roles in transactions such as the $450 million refinancing of the outstanding debt of Gopher Resource; the $862 million financing supporting Sweet Oak’s acquisition of Whole Earth Brands; refinancing and growth capital for GOJO Industries; and the $450 million financing of the take-private of SurveyMonkey by Symphony Technology Group.
Silver Point’s funding exceeded its initial target, attracting support from a diverse group of new and existing institutional investors from across the globe, including pensions, sovereign wealth funds, endowments, foundations, insurance companies, and family offices.
KEY QUOTES:
“We thank our investors, both new and existing, for their strong backing of Specialty Credit Fund III and their continued appreciation of our team, strategy, experience, and track record. We look forward to continuing to build upon the significant successes of our Direct Lending business, both for our LPs and our portfolio companies.”
- Ed Mulé, Founding Partner, Portfolio Manager and CEO of Silver Point
“The pipeline within direct lending is strong and the forthcoming environment will continue to provide for a wide array of investment opportunities across a mix of both sponsor and non-sponsor investments. We appreciate our investors’ recognition of Silver Point’s unique platform and differentiated strategy.”
- Anthony DiNello, the Head of Direct Lending at Silver Point
