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NXT Capital Closes ~$1Billion Middle and Lower Middle-Market Direct Lending Fund

March 11, 2021, 08:05 AM
Filed Under: Industry News

NXT Capital announced the final closing on NXT Capital Senior Loan Fund VI (L), LP (SLF VI Levered or the Fund). SLF VI Levered will have approximately $1 billion in fund capacity from equity commitments combined with expected leverage. The addition of the Fund increases NXT Capital’s asset management platform to approximately $11 billion in capital under management/direction as of February 28, 2021.

The Fund will invest in senior debt transactions directly originated and underwritten by NXT Capital’s Direct Lending Group. The investment strategy is focused on senior secured loans, including straight senior, stretch and unitranche loans made to sponsor-backed middle and lower middle-market companies across a wide range of industries in the United States.

The Fund received equity commitments from U.S. and foreign institutional investors, including pension plans, insurance companies, foundations and financial institutions.

“I’d like to thank our new and returning investors for their confidence in and support of NXT Capital’s strategy,” said John Finnerty, President, NXT Capital. “Private Equity deal making and NXT Capital’s pipeline have bounced back swiftly since the pause caused by the pandemic, and we are excited about the investment opportunities for this Fund.”

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