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Pathlight Capital Raises $540MM Private Debt Fund

November 04, 2019, 08:45 AM
Filed Under: Industry News

Pathlight Capital LP announced the final closing of its inaugural funds, Pathlight Capital Fund I LP and Pathlight Capital Offshore Fund I, LP (together, the “Fund”), with $540 million of capital commitments. The Fund was oversubscribed and closed above its original $500 million fundraising target. Including separately managed accounts, Pathlight now has over $650 million in assets under management. The Fund will continue Pathlight’s focus on providing companies with asset-based financing solutions for working capital, refinancing, growth, acquisition, dividend, and turnaround strategies.

The Fund received capital commitments from a diverse group of respected investors, including endowments, insurance companies, a health care system, and corporate and state pension funds.

Since 2009, Pathlight’s principals have underwritten 38 deals representing invested capital of over $1 billion. “We are grateful for the support from our limited partners. The demand to upsize the Fund and close in less than a year has been critical in driving our momentum," commented Pathlight Chief Executive Officer, Daniel Platt. “The dedicated pool of capital under the Fund, combined with Pathlight’s proven sourcing model significantly strengthens our position in the marketplace,” Mr. Platt added.
M2O Private Fund Advisors LLC acted as placement agent and Morgan, Lewis & Bockius LLP provided legal counsel.

Pathlight provides asset-based loans secured on a first or second lien basis against tangible and intangible assets.

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