New private credit firm founded by ex-Goldman partners starts investing with $1.6bn
5C Investment Partners, a new private credit firm co-founded by two former Goldman Sachs executives, is set to begin investing with $1.6bn (£1.2bn) of available capital.
5C will focus on sponsor-backed, senior direct lending to upper-middle market companies.
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It has named the Dell Family Office and Liberty Mutual Investments as anchor partners.
“We are pleased to welcome Liberty Mutual Investments as an anchor partner alongside the Dell Family Office, two leading investors in private markets,” said founders and co-managing partners Tom Connolly and Michael Koester. “After 25 years operating in the private markets, we continue to be passionate about private investing and are honoured to work with committed investors, lend to compelling companies, and collaborate with our talented professionals.”
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5C enters the highly competitive arena of senior direct lending, where an ever-growing number of private credit firms are jostling with banks for the most lucrative deals. Minimal differentiation on rates means that it can be difficult for new entrants to claw market share.
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