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Solar Capital Partners Closes Over $750MM in New Middle Market Funds

October 22, 2018, 08:00 AM
Filed Under: Industry News

Solar Capital Partners, LLC, a leading private credit manager with expertise across cash flow and asset-based senior secured financing solutions to U.S. middle market companies, announced that it has held the final closings for its SCP Private Credit Income Fund LP and SCP Private Credit Income BDC LLC.

The Funds, managed by Solar Capital Partners, will invest in U.S. middle market companies via directly-originated senior secured cash flow loans, asset-based loans, and life science loans. SCP provides its borrowers with a comprehensive suite of financing alternatives. The breadth of SCP’s products and underwriting experience across a single platform provides a unique view of a middle market borrower’s needs and offers attractive risk-adjusted financing solutions.

Over $750 million of equity capital was committed to the Funds by access funds comprised of capital from Goldman Sachs & Co. LLC’s private wealth management clients. With approximately $1.9 billion of investable capital, including anticipated leverage, the Funds may co-invest with SCP’s other funds and accounts, including Solar Capital Ltd. and Solar Senior Capital Ltd.

“The Funds increase the scale of SCP’s platform, enabling us to provide complete solutions to middle market companies across our suite of financing alternatives and to source and structure highly attractive senior secured investments,” said Michael Gross, Co-Founder of SCP.

“We view this successful fundraise as testimony to our strong track record of investing in senior secured loans across our asset niches,” said Bruce Spohler, Co-Founder of SCP. “We want to thank our new and existing investors for their trust and confidence in our team.”

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