Solar Capital Partners racks up over $750 mln for private credit funds


Solar Capital Partners LLC has closed its private credit funds at over $750 million. The funds, SCP Private Credit Income Fund LP and SCP Private Credit Income BDC LLC, will invest in U.S. middle market companies via senior secured cash flow loans, asset-based loans and life science loans.

PRESS RELEASE

NEW YORK, Oct. 18, 2018 /PRNewswire/ — Solar Capital Partners, LLC (“SCP” or “Solar Capital Partners”), a leading private credit manager with expertise across cash flow and asset-based senior secured financing solutions to U.S. middle market companies, today announced that it has held the final closings for its SCP Private Credit Income Fund LP and SCP Private Credit Income BDC LLC (collectively, the “Funds”).

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. (NASDAQ: SLRC) and Solar Senior Capital Ltd. (NASDAQ: SUNS).

“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.”

About Solar Capital Partners
Solar Capital Partners is an SEC-registered investment adviser that primarily invests directly in leveraged, U.S. middle market companies in the form of cash flow and asset-based senior secured investments, including first lien, stretch first lien and second lien debt instruments. Currently, SCP manages approximately $5.5 billion of investable capital across its public and private funds and separately managed accounts, including serving as the investment adviser to two publicly-traded Business Development Companies, Solar Capital Ltd. (Nasdaq: SLRC, www.solarcapltd.com) and Solar Senior Capital Ltd. (Nasdaq: SUNS, www.solarseniorcap.com).

Since its formation in 2006 thru June 30, 2018, the Solar Capital Partners’ platform has invested approximately $9.1 billion in over 600 different portfolio companies with approximately 200 private equity sponsors. Solar Capital Partners was founded by Michael Gross and Bruce Spohler, who both have over 30 years of investment experience through multiple credit cycles.