Beach Point Capital raises over $1.25bn for opportunistic private credit funds
Beach Point Capital has announced it has raised over $1.25bn (£930m) for its opportunistic private credit strategies.
The alternative investment manager closed two oversubscribed funds, BPC Opportunities Fund V and BPC Real Estate Debt Fund, which raised over $750m and $545m of investable capital, respectively.
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The investors in both funds are made up of global institutions including pensions, insurance companies, family offices, sovereign wealth funds, foundations and endowments.
Opportunities Fund V is Beach Point‘s largest opportunities fund since the strategy was established in 2010 to flexibly invest across the full range of middle market opportunistic private credit.
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Meanwhile, the BPC Real Estate Debt Fund is the firm’s first dedicated real estate fund and pursues a flexible approach to investing across the US middle market.
“These fund closings demonstrate Beach Point‘s continued momentum across private markets and the attractiveness of our agile, value-oriented and creative approach,” said Michael Haynes, head of private credit at Beach Point.
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“We are confident [Opportunities Fund V’s] flexible mandate and Beach Point‘s wide range of expertise, capabilities and relationships position us to deliver attractive and differentiated outcomes for investors against any macroeconomic backdrop.”
Both funds have been actively deploying capital across a wide range of transactions and have a pipeline of future investment opportunities, with BPRED 56 per cent deployed and Opportunities Fund V approximately 50 per cent deployed.
