Northleaf Closes on More Than $900m of Investor Capital for Its Global Private Credit Strategy

Jul 13, 2021 | News

Northleaf Capital Partners announced today that it held the final closing for Northleaf Private Credit II and a related separately managed account, raising more than $900m to invest in performing loans to global mid-market companies.

Including anticipated leverage, the total investible capital amounts to approximately $1.2bn. Northleaf’s private credit program seeks to provide investors with diversified exposure to mid-market private credit investments and offers flexible debt financing solutions to privately held companies.

“We are pleased with the strong support from both new and existing investors,” said Stuart Waugh, Managing Partner of Northleaf. “The insights, information flows and longstanding relationships across Northleaf’s mid-market platform enable us to offer a differentiated approach to private credit investing that has resonated with investors.”

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NPC II provides investors with exposure to a diversified portfolio of loans to private equity-backed and independent mid-market companies globally. The fund’s flexible investment strategy enables it to invest across the capital structure, from senior secured loans to junior debt and equity investments. To date, NPC II has invested more than 30% of its capital in loans to a diversified portfolio of private companies.

“We are excited about the robust pipeline of opportunities for NPC II,” said David Ross, Managing Director and Head of Private Credit at Northleaf. “Our established team remains highly selective in this environment, adding new borrowers that exhibit defensive and stable characteristics, and strong relative value, with the goal of delivering attractive returns and reliable income to our investors.”

Northleaf launched its private credit program in 2016 to complement its successful investment strategies in private equity and infrastructure. Northleaf has an experienced team of private credit professionals based in Chicago, London, New York and Toronto. Across its growing private credit program, Northleaf offers investors the opportunity to invest in private credit through both closed-end and open-end funds and has raised more than US$3.5 billion in capital commitments to date.

Source: Financial Post

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