Solar Capital Partners Closes on $525 Million of Commitments to Latest Private Credit Funds
NEW YORK, March 10, 2020 /PRNewswire/ -- Solar Capital Partners, LLC ("SCP" or "Solar Capital Partners"), a leading private credit manager with expertise across cash flow and specialty finance senior secured financing solutions for U.S. middle market companies, today 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 (collectively, the "Funds").
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. (Nasdaq:SLRC) and Solar Senior Capital Ltd. (Nasdaq:SUNS).
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."
About Solar Capital Partners
Solar Capital Partners (www.solarcapitalpartnersllc.com) is an SEC-registered investment adviser that primarily invests directly in leveraged, U.S. middle market companies in the form of cash flow and asset-based senior secured investments. Currently, SCP manages approximately $6.5 billion of investable capital, including potential leverage, across its public and private funds and separately managed accounts, including serving as the investment adviser to two publicly-traded Business Development Companies, Solar Capital Ltd. (Nasdaq: SLRC, www.solarcapltd.com) and Solar Senior Capital Ltd. (Nasdaq: SUNS, www.solarseniorcap.com).
Since its formation in 2006 thru 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.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements," which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. Past performance is not indicative of future results and there is no guarantee that any of the expectations, targets or projections referenced herein will be achieved. SCP undertake no duty to update any forward-looking statements made herein.
CONTACT:
Solar Capital Partners
Investor Relations, 646-308-8770
SOURCE Solar Capital Partners, LLC
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