The Fund received equity commitments primarily from U.S. and international institutional investors including leading public and private pension plans, insurance companies and foundations. In addition, Wells Fargo Bank N.A. is administrative agent for a $425 million syndicated credit facility that is expected to be increased to approximately $600 million in the fourth quarter and provide the balance of the Fund's investment capacity.
"The interest we have seen in our asset management programs from new and existing investors further demonstrates the appeal of middle market loans to institutional investors," said NXT Chairman and CEO Robert Radway. "NXT Capital Senior Loan Fund IV further strengthens our position as a leading provider of leveraged finance to the middle market and enhances our ability to meet the financing needs of our clients."
"Senior Loan Fund IV offers institutional investors proprietary access to middle market loans through NXT's strong origination capability and further solidifies NXT as a leading middle market asset manager," said Kelli O'Connell, Head of NXT Capital's Asset Management Group.
NXT Capital provides structured financing solutions to middle market companies and commercial real estate investors through our Corporate Finance and Real Estate Finance groups. NXT Capital's Corporate Finance Group is a leading originator of cash flow-based financing solutions to middle market and healthcare companies, including senior, stretch senior, unitranche and second lien products. NXT Capital also provides investment advisory services through its wholly-owned subsidiary NXT Capital Investment Advisers, LLC, an investment adviser registered with the Securities and Exchange Commission. Flexible opportunities for investors include co-mingled funds, separate accounts and CLOs. See www.nxtcapital.com.
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SOURCE NXT Capital, LLC