Evolution Credit Partners Raises $565 Million in Committed Capital for Inaugural Private Credit Fund; Evolution's Alternative Credit Platform Reaches Over $1.6 Billion
Oct 01, 2020, 10:37 ET
BOSTON and NEW YORK, Oct. 1, 2020 /PRNewswire/ -- Evolution Credit Partners Management ("Evolution" or the "Firm"), an alternative credit firm with over $1.6 billion in assets under management, today announced the final close of its inaugural middle-market direct lending fund, Evolution Credit Partners I, L.P. ("ECP I" or the "Fund"). The Fund has approximately $565 million of investable capital, including leverage. Evolution received commitments from a prominent group of domestic and foreign limited partners including insurance companies, endowments and foundations, banks, family offices and high net worth individuals. Since the Firm's spin out from Harvard Management Company in April 2018, ECP I has invested approximately $500 million across 25 private-equity backed portfolio companies.
In addition to the close of ECP I, in December 2019, Evolution's contingent credit strategy fund, Evolution Credit Partners Finance I, L.P., had its final close raising $1.1 billion in equity commitments from a concentrated group of limited partners.
About Evolution Credit Partners
Evolution Credit Partners, headquartered in Boston, Massachusetts, manages approximately $1.6 billion across a range of synergistic credit strategies. Evolution's credit platform provides bespoke financing solutions across the credit spectrum. For more information, please visit evolutioncreditpartners.com or contact [email protected].
This press release contains certain statements that may include "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical fact, included herein are "forward-looking statements." The forward-looking statements are based on Evolution's beliefs, assumptions and expectations of future performance, taking into account all information currently available to Evolution, and can change as a result of many possible events or factors, not all of which are known to Evolution or are within its control.
SOURCE Evolution Credit Partners Management, LLC
