Freeport Financial Partners, LLC, a U.S. lower middle market direct lending manager, announced the successful final close of its fifth direct lending fund, Freeport First Lien Loan Fund V, raising $1.5 billion in investable capital including targeted leverage and separately managed accounts investing alongside the fund. Fund V was oversubscribed, exceeding its initial target by over $250 million, with total equity commitments of $900 million and $600 million in targeted leverage. Fund V obtained commitments from a wide range of institutional investors including public and private pension plans, insurance companies as well as endowments and foundations across North America, Europe and Asia.
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“We are pleased with the strong response to our most recent fund from both our existing and new investors to achieve a diversified base of limited partners”
Fund V invests primarily in directly originated and independently underwritten senior-secured first lien, floating rate loans to private equity-owned U.S. lower middle market companies that have EBITDA between $3 million and $25 million. Over the past year, Fund V has deployed approximately 35% of its capital across a diverse group of industries including business services, industrial components and healthcare services.
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“We are pleased with the strong response to our most recent fund from both our existing and new investors to achieve a diversified base of limited partners,” said Josh Howie, Managing Director at Freeport.
About Freeport Financial
Freeport has the industry expertise, product knowledge and flexibility to serve the financing needs of private equity investors and the management teams with whom they invest. Freeport’s principals have invested together since 2005 and have provided $8.6 billion in loan commitments to more than 300 companies. Freeport became part of Moelis Asset Management LP in 2012 and is committed to providing highly competitive financing solutions to lower middle-market companies.
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