Czech Asset Management has reached a final close for its second direct lending fund with total commitments of $1.5 billion, exceeding its $1 billion target and hitting its $1.5 billion hard-cap. SJC II is the second billion dollar-plus direct lending fund raised by CAM within the past 34 months.
Czech Asset Management, L.P. (“CAM”) today announced the final close for its second direct lending fund (“SJC II”) with total commitments of $1.5 billion, exceeding its $1.0 billion target and hitting its $1.5 billion “hard-cap”. SJC II is the second billion dollar-plus direct lending fund raised by CAM within the past 34 months. CAM now has approximately $3.0 billion of committed capital under management and $1.2 billion of co-investment capacity. SJC II’s direct lending strategy focuses on providing privately negotiated, floating-rate senior secured loans to U.S. and European middle market companies that generate annual revenue of $75.0 to $500.0 million+ and annual EBITDA of $7.5 to $50.0 million+. To date, SJC II has invested approximately $300.0 million. CAM’s global investor base is comprised of public and private pension funds, endowments, foundations, Taft-Hartley plans, family offices and high-net worth individuals.
According to Steve Czech, Managing Partner and Chief Investment Officer, “U.S. middle-market businesses continue to have relatively few quality financing sources as numerous middle market direct lenders have either exited the direct lending business, gone “down-market” towards smaller borrowers or are gravitating towards larger borrowers for both strategic and regulatory reasons. We plan to continue to fill that void for creditworthy businesses in need of secured floating rate debt that is required to expand their businesses and increase their hiring.” Czech continued, “We are extremely grateful to our investors for their investment, support and extraordinary efforts on our behalf. SJC II’s successful fundraise highlights what’s possible when you provide investors with great product, people, process, performance and transparency.”
About Czech Asset Management, L.P.: Czech Asset Management, L.P., with approximately $3.0 billion of committed capital under management and $1.2 billion of co-investment capacity, is a Old Greenwich, CT-based direct lending firm engaged in the business of originating and investing in asset-based and cash-flow first and second lien secured floating rate loans for middle market borrowers located throughout North America and Europe. CAM is represented by a Proskauer Rose LLP team led by Sean Hill and Arnold May.
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