Northleaf Capital Partners, a global private markets investment firm, today announced that it held the final closing for Northleaf Private Credit III .
In aggregate, Northleaf raised more than $1 billion in “capital commitments for NPC III and separately managed accounts that invest alongside the Fund.”
The closing also included a rated note that was “structured to meet the needs of insurance companies investing in the Fund.”
David Ross, Managing Director and Head of Private Credit at Northleaf.
“NPC III has a unique value proposition for investors with a focus on delivering strong risk-adjusted returns by investing across the capital structure in mid-market private equity-backed companies and asset-based specialty finance portfolios. Our integrated, global private markets platform and longstanding private equity sponsor relationships provide informational advantages and differentiated access for our investors.”
NPC III’s strategy focuses on mid-market private equity-backed lending and asset-based specialty finance investments, “with flexibility to pursue relative value across senior and junior loans.”
NPC III has already invested more than “40 percent of its capital into a diversified portfolio of investments with strong contractual cash yield, conservatively levered capital structures, and robust lender protections.”
Recently, Northleaf acted as co-lead arranger “on a senior secured loan to support Five Arrows’ acquisition of KEV Group, a cloud-based educational software company.”
Stuart Waugh, Managing Partner of Northleaf said:
“This closing marks another significant milestone for our global private credit strategy, and we appreciate and value the support from both new and existing investors. We expect our investors to continue to benefit from the flexible, global strategy, differentiated deal sourcing, active portfolio construction and effective risk management that underpins our private credit program.”
Northleaf has an experienced team of 45 private credit professionals “based in Chicago, London, New York, and Toronto. Northleaf’s well-established private credit program offers investors the opportunity to invest in both closed-end and evergreen mandates, and has raised more than US$6.5 billion in capital commitments to date.”
As noted in the update, Northleaf Capital Partners is a global private markets investment firm with more than “$28 billion in private equity, private credit and infrastructure commitments raised to date from public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices.”
Northleaf’s 275-person team is “located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal, New York, Seoul and Tokyo.
Northleaf sources, evaluates and manages “private markets investments, with a focus on mid-market companies and assets.”