Sagard closes first senior lending fund with $741m
Sagard Credit has announced the close of its first senior lending partners fund, with $741m (£582.46m) raised.
The Toronto-based credit manager exceeded its initial fundraising target of $600m.
The fund has already closed 10 deals and is approximately 28 per cent committed.
“Securing $741m amidst an uncertain economic environment and fundraising climate is a testament to the confidence investors have placed in Sagard’s vision and capabilities,” said Dev Gopalan, partner and portfolio manager at Sagard Senior Lending.
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“We are immensely proud of our team and grateful for the trust and support of our investors as we embark on this journey to create lasting value for our LPs.”
Sagard launched its credit investment platform with its strategic partner HalseyPoint in 2017. Together they manage $6bn in assets, including $2.8bn in its private credit and senior lending strategies. A further $3.2bn is under management by Sagard and HalseyPoint in the CLO space.
In March, Sagard acquired a 40 per cent stake in HalseyPoint’s CLO platform, offering its investing partners access to US corporate credit investments and deepening its reach into the private credit space.
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“We see tremendous potential in the middle-market segment, where companies often require specialized financing solutions to capitalize on growth opportunities,” added Adam Vigna, managing partner and chief investment officer at Sagard.
“With Sagard’s deep-rooted experience and collaborative approach, we are well-positioned to partner with leading businesses ready to unlock their full potential.”
Sagard plans to launch a CLO equity fund later this year and its third private credit fund – Sagard Credit Partners III – in 2025.
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