17Capital has held the final close of its inaugural 17Capital Credit Fund, which raised $2.9 billion, hitting its hard cap and exceeding its initial $1.65 billion target.
17Capital’s credit fund provides NAV loans to high-performing private equity managers in Europe and North America, which are mostly used by managers to grow their portfolios but also to generate interim liquidity for their investors. It is a natural extension of 17Capital’s well established preferred equity offering that 17Capital pioneered in 2008 and is currently investing out of its fifth fund (closed at $2.9 billion in June 2021).
The Credit Fund has a global, blue-chip investor base and has already deployed €1 billion ($1.1 billion USD) across seven loans, with a further €800 million ($880 million USD) syndicated to co-investors.
Read more: Private Equity Wire
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