Silver Point Capital, a credit investing firm, announced the final closing of Silver Point Specialty Credit Fund III, the latest fund in Silver Point’s Direct Lending franchise.
Inclusive of commitments to other direct lending vehicles made during the fundraising period, the total capital raised for Specialty Credit Fund III (with anticipated leverage) has reportedly “surpassed $8.5 billion.”
In addition to other committed capital and anticipated leverage, Silver Point’s Direct Lending strategy manages over “$15 billion in investable capital.”
As a firm, Silver Point oversees $35 billion in investable assets “across a credit platform that includes public and private investment businesses.”
Silver Point’s Direct Lending strategy focuses on “self-originated, senior secured loans to middle-market companies – both sponsor and non-sponsor – where the firm is able to leverage its experience, broad and differentiated sourcing platform, underwriting expertise and ability to move quickly, creatively and definitively to solve borrower needs.”
Since 2002, Silver Point has provided financing solutions to middle-market companies.
With the growth of its balance sheet for Direct Lending, Silver Point has agented or arranged over “$12 billion in credit facilities since the beginning of 2023.”
This reportedly includes lead or co-lead roles in transactions such as the $450 million refinancing of the outstanding “debt of Gopher Resource; the $862 million financing supporting Sweet Oak’s acquisition of Whole Earth Brands; refinancing and growth capital for GOJO Industries; and the $450 million financing of the take-private of SurveyMonkey by Symphony Technology Group.”
Silver Point’s fundraise exceeded its initial target, attracting support from a group of institutional investors, “including pensions, sovereign wealth funds, endowments, foundations, insurance companies, and family offices.”
Ed Mulé, Founding Partner, Portfolio Manager and CEO of Silver Point, said they look forward to “continuing to build upon the significant successes of their Direct Lending business, both for LPs and portfolio companies.”
As noted in the update, Silver Point is a credit investing firm.
With a team of more than 320 employees, Silver Point oversees “$35 billion in investable assets across a credit platform that includes public and private investment strategies.”
Founded in 2002 by Ed Mulé and Bob O’Shea, former partners at Goldman Sachs who established and built Goldman’s direct lending, global bank loan and Asian Special Situations Group, and “led its high yield bond, CLO and special situations investing businesses, Silver Point has successfully navigated multiple market cycles.”
Silver Point has been committed to generating alpha and “managing risk on behalf of its investors through a culture defined by collaboration and improvement.”
Silver Point’s Direct Lending business has delivered financing solutions to middle-market companies across a range of industries.
It works in partnership with borrowers, developing an understanding of their businesses and addressing a variety of capital needs.
Silver Point’s mandate allows clients to execute on M&A activity, refinancings and growth capital, among a range of transaction types.
Along with its affiliates, Silver Point’s Direct Lending business “manages over $15 billion in investable capital.”