Silver Point raises $8.5bn for direct lending fund

Silver Point Capital has raised over $8.5bn (£6.7bn) for its third direct lending fund, taking the amount of investable capital the group has available for the strategy up to $15bn.

The Speciality Credit Fund III exceeded its initial target, the company said in a statement, attracting new and existing institutional investors.

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The Connecticut-based firm oversees $35bn in investable assets across credit strategies. Its direct lending arm has arranged $12bn in credit facilities since the beginning of 2023, including the $450m refinancing of the outstanding debt of Gopher Resource. Since inception in 2002, the firm has lent to more than 400 middle-market companies.

“The pipeline within direct lending is strong and the forthcoming environment will continue to provide for a wide array of investment opportunities across a mix of both sponsor and non-sponsor investments,” said Anthony DiNello, the head of direct lending at Silver Point.

Silver Point was founded by former Goldman Sachs partners Ed Mulé and Bob O’Shea.

“We thank our investors, both new and existing, for their strong backing of Specialty Credit Fund III and their continued appreciation of our team, strategy, experience and track record,” Mulé said.

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