Silver Point Closes on $8.5 Billion in New Capital for Direct Lending Franchise

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Nov 18, 2024, 08:00 ET

Direct Lending Now Comprises Over $15 Billion of Investable Capital Within $35 Billion Silver Point Platform

GREENWICH, Conn., Nov. 18, 2024 /PRNewswire/ -- Silver Point Capital, a global credit investing firm, today announced the final closing of Silver Point Specialty Credit Fund III, the latest fund in Silver Point's 21-year-old Direct Lending franchise. Inclusive of new commitments to other direct lending vehicles made during the fundraising period, the total capital raised for Specialty Credit Fund III (with anticipated leverage) surpassed $8.5 billion.

In addition to other existing committed capital and anticipated leverage, Silver Point's Direct Lending strategy now manages over $15 billion in investable capital. As a firm, Silver Point oversees $35 billion in investable assets across a comprehensive 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 inception in 2002, Silver Point has provided financing solutions to more than 400 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 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 strong support from a diverse group of new and existing institutional investors from across the globe, including pensions, sovereign wealth funds, endowments, foundations, insurance companies, and family offices.

Ed Mulé, Founding Partner, Portfolio Manager and CEO of Silver Point, commented: "We thank our investors, both new and existing, for their strong backing of Specialty Credit Fund III and their continued appreciation of our team, strategy, experience and track record. We look forward to continuing to build upon the significant successes of our Direct Lending business, both for our LPs and our portfolio companies."

"The pipeline within direct lending is strong and the forthcoming environment will continue to provide for a wide array of investment opportunities across a mix of both sponsor and non-sponsor investments," said Anthony DiNello, the Head of Direct Lending at Silver Point. "We appreciate our investors' recognition of Silver Point's unique platform and differentiated strategy."

About Silver Point
Silver Point is a leading global credit investing firm. With a dedicated team of more than 320 employees, Silver Point oversees $35 billion in investable assets across a comprehensive 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. For over two decades, Silver Point has been committed to generating alpha and effectively managing risk on behalf of its investors through a unified culture defined by excellence, collaboration and continuous improvement. The firm has earned a reputation as a trusted and creative industry leader, consistently delivering innovative solutions to meet the needs of its business partners and investors.

Silver Point's Direct Lending business has delivered customized financing solutions to middle-market companies across a broad range of industries. It works in close partnership with borrowers, developing a thorough understanding of their businesses and addressing a wide variety of capital needs with speed and certainty. Silver Point's flexible 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.

For more information, please visit www.silverpointcapital.com.

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SOURCE Silver Point Capital