Freeport Financial Closes Fund III
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Freeport Financial Closes Fund III

freeport-nf1Middle market lender Freeport Financial Partners has held a final close of Freeport First Lien Loan Fund III, LP with equity commitments of $518 million. With targeted fund leverage, the new fund gives Freeport approximately $960 million of investible capital.

josh-howie-nf1Limited partners in Fund III include public and private pension plans, insurance companies as well as endowments and foundations across North America and Europe. “We are pleased with the 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.

As with earlier funds, Fund III will invest in directly originated and independently underwritten senior-secured first lien, floating rate loans to private equity-owned US middle market companies that have revenues between $25 million and $100 million and EBITDA between $3 million and $25 million. Over the past year, Fund III has already invested approximately 35% of its capital.

first-avenue-nf33Freeport Financial was assisted on this fundraise by placement agent FIRSTavenue. “We would like to congratulate Freeport on a successful fundraise. We look forward to continuing our relationship with the team and we wish them continued success,” said Paul Buckley, Founder and Managing Partner of FIRSTavenue (www.firstavenue.com).

Freeport Financial, headquartered in Chicago, was acquired by investment bank and asset manager Moelis & Company in October 2012.

© 2016 Private Equity Professional • 11-3-16

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