Sagard Credit score has introduced the shut of its first senior lending companions fund, with $741m (£582.46m) raised.
The Toronto-based credit score supervisor exceeded its preliminary fundraising goal of $600m.
The fund has already closed 10 offers and is roughly 28 per cent dedicated.
“Securing $741m amidst an unsure financial atmosphere and fundraising local weather is a testomony to the boldness traders have positioned in Sagard’s imaginative and prescient and capabilities,” stated Dev Gopalan, accomplice and portfolio supervisor at Sagard Senior Lending.
Learn extra: Goldman Sachs raises $20bn for senior direct lending technique
“We’re immensely pleased with our group and grateful for the belief and assist of our traders as we embark on this journey to create lasting worth for our LPs.”
Sagard launched its credit score funding platform with its strategic accomplice HalseyPoint in 2017. Collectively they handle $6bn in property, together with $2.8bn in its personal credit score and senior lending methods. An extra $3.2bn is below administration by Sagard and HalseyPoint within the CLO house.
In March, Sagard acquired a 40 per cent stake in HalseyPoint’s CLO platform, providing its investing companions entry to US company credit score investments and deepening its attain into the personal credit score house.
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“We see great potential within the middle-market phase, the place corporations usually require specialised financing options to capitalize on progress alternatives,” added Adam Vigna, managing accomplice and chief funding officer at Sagard.
“With Sagard’s deep-rooted expertise and collaborative method, we’re well-positioned to accomplice with main companies able to unlock their full potential.”
Sagard plans to launch a CLO fairness fund later this 12 months and its third personal credit score fund – Sagard Credit score Companions III – in 2025.
Learn extra: Sagard Healthcare closes $250m credit score facility
