TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
September 23, 2024
Source: Connect Money
Silver Point Capital held the final close of its latest opportunistic credit fund at $4.6 billion, surpassing the $4 billion target and more than double the size of its 2019 predecessor fund, which closed at $1.7 billion.
With a longer-locked, drawdown structure, the fund will invest in cyclically driven market dislocations, including traded credit and restructuring and process-oriented investments. It has a global and opportunistic mandate extending across geographies, market capitalizations, capital structures, and industries.
“With the new fund, which is highly complementary with our flagship hedge funds, our team will have even greater flexibility and increased scale to invest in the type of unique situations – including complex restructurings and process-oriented investments – where the firm has long been a market leader,” said Ed Mulé, Silver Point Capital’s founding partner, CEO and portfolio manager.
The firm did not reveal the fund’s name, but its most recent publicly announced mandate is the Silver Point Specialty Credit Fund III, which is aiming to raise $4 billion and received a $150 million commitment from the New Mexico State Investment Council in February for its opportunistic lending program. NMSIC committed $150 million to the same fund in 2022.
Founded in 2002 by Mulé and Bob O’Shea, former partners at Goldman Sachs, Silver Point manages over $6 billion across its opportunistic credit funds and approximately $16 billion in special situations overall. The firm manages approximately $31 billion of investable assets across multiple integrated strategies, including direct lending and structured credit.