Antares Capital has closed its inaugural senior loan fund at $3 billion, beating its $1.5 billion target. The fund’s investors are mostly public and private pensions, insurance companies, asset managers and banks located predominantly in the U.S., Canada, Asia and the Middle East. The fund is focused on making sponsor-backed senior secured loans to U.S. and Canadian borrowers.
CHICAGO — September 16, 2020 — Antares Capital Advisers LLC, a subsidiary of Antares Capital LP (together with its parent companies, “Antares”) announced the final closing of its inaugural Senior Loan Fund (“SLF”).
The fund, which launched in December 2019, closed on September 14th with approximately $3 billion of asset purchasing power, exceeding its initial target of $1.5 billion. Capital was raised across a diversified set of institutional investors.
The investment objective of the SLF is to build a diverse portfolio of sponsor-backed senior secured loans to U.S. and Canadian borrowers. Investors in the fund are primarily public and private pensions, insurance companies, asset managers and banks located predominantly in the U.S., Canada, Asia and the Middle East.
“The closing of our inaugural fund is a significant milestone in continuing to diversify our investor base, and the ability to do so during the current market environment is a clear testament to the strength of the Antares brand,” said Vivek Mathew, senior managing director and head of asset management. “Investors appreciate that Antares’ market position allows us to be highly selective in the opportunities in which we invest. Also, Antares has implemented a variety of measures to demonstrate alignment of interests with our investors, and ultimately when markets turn, we have a track record of strong performance through market cycles.”
“COVID-19 has been a stress test for our asset class, and while the story is not fully written yet, it appears that middle market private debt will perform well,” said David Brackett, CEO of Antares. “As a result, we anticipate further growth in our asset management platform. As a firm we recently recognized the five-year anniversary of our partnership with CPPIB Credit Investments Inc. During this time we are proud to have continued to build upon our industry-leading platform targeting private equity-owned middle market companies.”
Antares Capital Advisers LLC is the registered investment adviser arm of Antares. Antares has leveraged its credit expertise and investor relationships through Antares Capital Advisers LLC to build a platform that complements its broader origination capabilities.
With approximately $27 billion of capital under management and administration as of December 31, 2019, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2019, Antares issued approximately $17 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares’ world-class capital markets experts hold relationships with more than 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on LinkedIn at http://www.linkedin.com/company/antares-capital-lp. Antares Capital LP is a subsidiary of Antares Holdings LP.