Barclays Capital has raised $1 billion for its first junior capital fund. It also may seek an additional $500 million in commitments. The vehicle will mostly provide mezzanine, uni-tranche and second-lien financing, but also may participate in private equity co-investments.
Barclays Capital, the investment banking division of Barclays Bank PLC, today announced that Barclays Structured Principal Investing (BSPI), its affiliated principal credit investment unit, has secured its target of $1 billion in capital commitments for its inaugural fund, Barclays Structured Principal Investing Fund, L.P (“the Fund”). BSPI may seek additional commitments of up to $500 million for the Fund.
Partnering with leading financial sponsors, the Fund will pursue investments between $20 million and $150 million across a broad spectrum of private junior capital instruments, ranging from uni-tranche, second lien and mezzanine debt to holding company notes and structured preferred stock. The Fund will also pursue private equity co-investments in partnership with leading financial sponsors. In addition to working with the sponsor community, BSPI will facilitate relationships with institutional investors seeking to co-invest with the Fund.
BSPI is part of Barclays Capital's US Leveraged Finance platform, which combines origination, distribution, trading and principal investing capabilities, under the joint leadership of Rick Van Zijl and Joe McGrath, Co-Heads of US Leveraged Finance. BSPI is focused on the primary issue market in
“The introduction of the Fund marks an important milestone in our continuing efforts to build a world-class leveraged finance platform,” said Van Zijl. “The financing flexibility that the Fund offers is an important value proposition for our clients.”
BSPI is managed by a dedicated team of experienced investors, led by Brent Humphries, Group Head, Structured Principal Investing. “The record levels of private equity fundraising, coupled with continued volatility in the financing markets, will keep demand for private debt solutions robust,” said Humphries. “We are well positioned to evaluate opportunities in the middle and upper-middle markets, and look forward to providing creative and certain financing solutions to financial sponsors.”
Barclays provided an anchor commitment to the Fund, which has also secured capital from the institutional investor community.
About Barclays Capital
Barclays Capital is the investment banking division of Barclays Bank PLC . With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs. Barclays Capital has offices in 26 countries, employs over 15,700 people and has the global reach and distribution power to meet the needs of issuers and investors worldwide.
For further information about Barclays Capital, please visit our website www.barclayscapital.com.