Summit Partners Raises $1 Billion for Second Credit Fund
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Summit Partners Raises $1 Billion for Second Credit Fund

summit nf1Summit Partners has raised $1 billion for its second credit fund, Summit Partners Credit Fund II, to address the borrowing needs of middle-market companies.  The target for Fund II was $750 million. The new fund will be run from Boston by Managing Directors Todd Hearle and Jamie Freeland and Summit’s dedicated credit team.

Investors participating in the new fund include public and private pension plans, insurance companies, funds of funds, family offices, endowments and foundations.

Roberts nf1“All of us at Summit appreciate the investor support we’ve received from new and existing limited partners for our Credit Fund II,” said Tom Roberts, Managing Director at Summit Partners.  “The high level of demand reflects the appeal of our credit capability, our leading position in the middle market and our differentiated sourcing model.”

Summit Partners Credit Fund II will target credit investments in profitable companies with proven business models, a record of stable growth, and the leadership capable of sustaining that growth.  Sectors of interest include technology, healthcare & life sciences, financial technology & services, consumer and industrial.

Fixed income investing has been an active component of Summit Partners’ investment platform since 1994. Summit has funded a total of more than $1.8 billion fixed income investments, including subordinated debt investments in conjunction with its equity investments and stand-alone credit investments. In total, Summit has raised $3.3 billion in combined fixed income assets.

freeland nf1“Every year, Summit Partners speaks with thousands of companies around the globe about their growth strategies. Our credit fund leverages this proprietary outreach model and allows us to provide customized, innovative capital solutions to a wider range of businesses,” said Jamie Freeland, Managing Director at Summit Partners.

Summit Partners provides private equity and venture capital for growth companies. Founded in 1984, Summit has raised more than $16 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 395 companies across a range of industries. Summit Partners has offices in Boston, Palo Alto, London, and Mumbai (www.summitpartners.com).

2014 PEPD • Private Equity’s Leading News Magazine • 7-17-14

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