Cerberus Business Finance, the middle market lending arm of Cerberus Capital Management, has held a final close of Cerberus Levered Loan Opportunities Fund III with just over $2 billion of commitments and well above the initial target of $1.5 billion.
Limited partners in Fund III include a mix of new and existing investors including government and corporate pensions, endowments, insurance companies, family offices, foundations, non-profit organizations, fund of funds, and high net worth individuals.
“The close of Fund III is the latest milestone in over 21 years of work establishing our successful direct lending platform which serves US middle-market companies,” said Daniel Wolf, Chief Executive Officer of Cerberus Business Finance. “Our array of private equity sponsors and other client relationships consistently turn to us for certainty of transaction closure and terms, flexible capital structures, and speed of execution through a reputable, well-known franchise.” The vast majority of CBF’s borrowers are owned by private equity sponsors.
Cerberus Business Finance (CBF) currently manages 22 funds with over $13 billion of capital dedicated to its middle-market direct lending business. In 2016, CBF completed over 70 transactions, primarily as lead agent, totaling $5.3 billion of credit facilities. CBF is based in New York (click HERE for the group’s website).
Cerberus Capital Management has approximately $30 billion of capital under management and invests in three strategies: global credit opportunities (which includes non-performing loans, corporate credit & distressed debt, mortgage securities & assets, and direct lending); private equity; and real estate. The firm was founded in 1992 and is headquartered in New York (www.cerberuscapital.com).
© 2017 Private Equity Professional | March 3, 2017
