Summit Partners Raises $520 Million Credit Fund
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Summit Partners Raises $520 Million Credit Fund

Summit Partners has raised a $520 million credit fund to address the borrowing needs of middle-market companies. The fund will be run in Boston by Managing Directors Todd Hearle and Jamie Freeland who joined Summit in 2010.

Surpassing its initial target of $300 million, Summit Partners Credit Fund will target credit investments in profitable companies with proven business models and a record of stable growth. Sectors of interest include technology, healthcare & life sciences, financial technology & services, consumer and industrial.

Credit investing has been an active component of Summit Partners’ investment platform since 1994, when it raised its first subordinated debt fund. Summit has since raised three more subordinated debt funds and has funded more than 70 credit investments, including subordinated debt investments in conjunction with its equity investments and stand-alone credit investments. In total, Summit has raised $2.3 billion in combined credit assets.

“All of us at Summit appreciate the support we’ve received from new and existing limited partners in our Credit Fund.” Investors participating in the fund include public and private pension plans, insurance companies, funds of funds, family offices, endowments and foundations,” said Tom Roberts, Managing Director at Summit Partners. “Every year, we speak with thousands of companies around the globe about their growth strategies. The Credit Fund leverages this proprietary outreach model and allows us to provide customized, innovative capital solutions to a wider range of businesses.”

Summit Partners provides private equity and venture capital for growth companies. Founded in 1984, Summit has raised more than $15 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 350 companies across a range of industries. Summit Partners has offices in Boston, MA; Palo Alto, CA; London, UK; and Mumbai, India (www.summitpartners.com).

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