Northlight Financial has formed Northlight LP, a $100 million fund that will provide asset backed loans to middle market companies, acquire whole loans in the secondary market and purchase distressed assets in the commercial, industrial and real estate sectors. Northlight Financial will manage Northlight LP.
Northlight Financial LLC (“Northlight”), a manager of private equity debt investments, today announced the formation of Northlight LP, a limited partnership that will provide asset backed loans to middle market companies, acquire whole loans in the secondary market and purchase distressed assets in the commercial, industrial and real estate sectors. The new fund will initially deploy $100 million in committed capital and will target investments ranging from $5 to $15 million in executing its investment strategy.
The fund will be Northlight’s second fund targeting the middle and distressed market segments and will be managed by Northlight’s partners, Michael H. Jahrmarkt, Robert B. Woods, Mark P. Hirschhorn and Chris E. Jahrmarkt.
Northlight is an established corporate lender and asset-based investor that currently manages over $450 million in corporate loans, real estate loans and related assets. Northlight was founded in November 2002 by Messrs. Jahrmarkt, Woods and Hirschhorn and has been a Registered Investment Advisor since 2006. Senior professionals at Northlight have originated or acquired more than $7 billion of credit-related assets over their careers and the Northlight founders have partnered since 1985 as primary management of significant business units at GE Capital, Heller Financial and Gilman Investment Company.