A leading private credit manager in the U.S., Solar Capital Partners (SCP) has confirmed the final closings for its SCP Cayman Debt Fund LP, SCP SF Debt Fund LP and SCP Private Corporate Lending Fund LP. More than $525 million worth equity capital has been committed to the new funds, mostly by institutional investors.
Reportedly, these funds will invest, through directly-originating senior secured cash flow as well as specialty finance loans, across middle market companies in the U.S. They co-invest with other managed accounts and funds of SCP, which include Solar Senior Capital Ltd. and Solar Capital Ltd.
The collective equity commitments for SCP, including other unlisted parallel funds closed recently, sum up to nearly $1.3 billion, which provides $3 billion of investible capital after including the leverage available. Besides providing SCP with enhanced origination opportunities, the incremental investment capacity also offers scale for delivering upper middle market borrowers with comprehensive solutions for financing.
SCP co-founder Bruce Spohler believes that the successful fundraising efforts of the firm is testimony to its strong track record of senior secured loan investments across its specialty finance and cash flow businesses.
Michael Gross, also the co-founder of SCP, stated that with the closure of the new funds, the total investible capital of Solar Capital Partners is now more than $6.5 billion. The increased financing scale improves SCP’s ability to offer full solutions for middle market companies throughout the firm’s suit of financing alternatives, along with positioning it to become opportunistic at the time of credit market dislocations, he added.
For the record, SCP boasts of expertise in providing cash flow & specialty finance senior secured finance solutions for middle market businesses in the U.S. The firm has made investments worth more than $11.5 billion across 750 portfolio companies, having close to 200 private equity contributors, since its establishment in 2006.