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Czech Asset Management Raises in Excess of $1.7B for Fund III

May 10, 2016, 07:21 AM
Filed Under: Industry News

Czech Asset Management, L.P. ("Czech") announced the final close of its third direct lending fund complex ("SJC III") with total commitments in excess of $1.7 billion, exceeding its $1.5 billion target. All of the capital raised in SJC III came from existing investors or referrals from existing investors and the time between the first and final closing was approximately 100 days.  SJC III is the third billion dollar-plus direct lending fund raised by Czech within the past six years. Czech now manages approximately $4.3 billion of direct lending capital commitments and investments in addition to significant co-investment capacity.

SJC III's direct lending strategy focuses on providing privately negotiated, floating-rate, senior secured loans primarily to U.S. middle market companies that generate annual revenue of $75.0 to $500.0 million + and annual EBITDA of $7.5 to $50.0 million +. To date, SJC III has invested approximately $215.0 million. Czech's global investor base is comprised of public and private pension funds, endowments, foundations, Taft-Hartley plans, family offices and high-net worth individuals.

According to Steve Czech, Managing Partner and Chief Investment Officer, "We are extremely grateful to our investors for their trust and confidence. Czech's third successful fundraise highlights what's possible when you provide investors with great product, people, process, performance and transparency."

Czech, with approximately $4.3 billion of committed capital under management and significant co-investment capacity, is an Old Greenwich, Connecticut-based direct lending firm engaged in providing privately negotiated, asset-based and cash-flow, first and second lien floating-rate senior secured loans primarily to U.S. middle-market companies that generate annual revenue of $75.0 million to $500.0 million + and annual EBITDA of $7.5 million to $50.0 million-plus.

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