Solar Capital Partners closes on $525 million fund to invest in U.S. middle market companies
Solar Capital Partners, a private credit manager with expertise across cash flow and specialty finance senior secured financing solutions for U.S. middle market companies, announced that it held the final closings of its SCP Private Corporate Lending Fund LP, SCP Cayman Debt Fund LP, and SCP SF Debt Fund LP. The Funds invest in U.S. middle market companies via directly-originated senior secured cash flow loans and specialty finance loans. The Funds co-invest with SCP’s other funds and managed accounts, including Solar Capital Ltd. and Solar Senior Capital Ltd.
Co-founded by Michael Gross and Bruce Spohler in 2006, SCP and its affiliates are supported by a team of about 165 employees including over 80 origination and investment professionals in more than a dozen offices across the U.S. Their dedicated asset class teams are led by senior investment professionals who have highly specialized direct lending expertise and lengthy industry experience building and managing large-scale credit focused investment businesses.
Since its inception in 2006 through December 31, 2019, the Solar Capital Partners’ platform has invested approximately $11.5 billion in over 750 different portfolio companies with approximately 200 private equity sponsors. Solar Capital Partners was founded by Michael Gross and Bruce Spohler, who each have over 30 years of investment experience through multiple credit cycles.
Over $525 million of equity capital is committed to these new Funds, primarily by institutional investors. Including other unlisted parallel credit funds recently raised, the combined equity commitments total approximately $1.3 billion, providing $3.0 billion of investable capital when including available leverage. This incremental investment capacity enhances origination opportunities and provides SCP with the scale to deliver comprehensive financing solutions to upper middle market borrowers.
“With the final closing of these Funds, SCP’s total investable capital is over $6.5 billion,” said Michael Gross, Co-Founder of SCP. “This increased scale enhances our ability to provide full solutions to middle market companies across our suite of financing alternatives and positions us to be opportunistic during credit market dislocations.”
“We view the success of our fundraising efforts as testimony to our strong track record of investing in senior secured loans across our cash flow and specialty finance businesses,” said Bruce Spohler, Co-Founder of SCP. “We want to thank our new and existing investors for their trust and confidence in our team.”