Twin Brook racks up over $2.3 bln for second direct lending fund

Twin Brook Capital Partners, Angelo, Gordon & Co‘s middle market direct lending subsidiary, has closed its second direct lending fund at $2.3 billion in equity.

This amount includes $1.6 billion in capital commitments as well as capital from separately managed accounts.

AG Direct Lending Fund II will target senior financing opportunities up to $200 million.

In 2016, Twin Brook closed $850 million in equity for its inaugural lending fund, which also included the amount raised from separately managed accounts. No information was available on the fund’s performance.

Twin Brook provides loans to private equity-owned companies that have an EBITDA between $3 million and $50 million, especially focusing on companies with an EBITDA of $25 million and under.

Since its founding in 2014, Twin Brook has closed 110 deals and provided funding of over $3.2 billion, according to the company.

Close-up of  two businessmen shaking hands and receiving a banknote. Photo courtesy of AndreyPopov/iStock/Getty Image