Boston-based Evolution Credit Partners Management, an alternative credit firm, has closed its inaugural middle-market direct lending fund at about $565 million. The fund’s limited partners includes insurance companies, endowments and foundations, banks, family offices and high-net worth individuals.
BOSTON and NEW YORK, Oct. 1, 2020 /PRNewswire/ — Evolution Credit Partners Management (“Evolution” or the “Firm”), an alternative credit firm with over $1.6 billion in assets under management, today announced the final close of its inaugural middle-market direct lending fund, Evolution Credit Partners I, L.P. (“ECP I” or the “Fund”). The Fund has approximately $565 million of investable capital, including leverage. Evolution received commitments from a prominent group of domestic and foreign limited partners including insurance companies, endowments and foundations, banks, family offices and high net worth individuals. Since the Firm’s spin out from Harvard Management Company in April 2018, ECP I has invested approximately $500 million across 25 private-equity backed portfolio companies.
In addition to the close of ECP I, in December 2019, Evolution’s contingent credit strategy fund, Evolution Credit Partners Finance I, L.P., had its final close raising $1.1 billion in equity commitments from a concentrated group of limited partners.
About Evolution Credit Partners
Evolution Credit Partners, headquartered in Boston, Massachusetts, manages approximately $1.6 billion across a range of synergistic credit strategies. Evolution’s credit platform provides bespoke financing solutions across the credit spectrum. For more information, please visit evolutioncreditpartners.com or contact firstname.lastname@example.org.