CHICAGO–(BUSINESS WIRE)–Freeport Financial Partners, LLC (“Freeport”), a U.S. lower-middle market direct loan manager, today announced the successful final closing of its fifth direct loan fund, Freeport First Lien Loan Fund V (“ Fund V”), raising $1.5 billion in investable capital, including targeted leverage and separately managed accounts investing alongside the fund. Fund V was oversubscribed, exceeding its original target by more than $250 million, with total equity commitments of $900 million and targeted leverage of $600 million. Fund V has secured commitments from a wide range of institutional investors, including public and private pension plans, insurance companies as well as endowments and foundations in North America, Europe and Asia .
Fund V invests primarily in directly issued and independently underwritten senior secured, floating rate senior loans to equity-owned, lower-middle-market U.S. companies with EBITDA between 3 and $25 million. Over the past year, Fund V has deployed approximately 35% of its capital in a diverse group of industries, including business services, industrial components and healthcare.
“We are delighted with the strong response to our most recent fund from our existing and new investors to reach a diverse limited partner base,” said Josh Howie, chief executive of Freeport.
About Freeport Financial
Freeport has the industry expertise, product knowledge and flexibility to meet the financing needs of private equity investors and the management teams they invest with. Freeport executives have invested together since 2005 and have provided $8.6 billion in loan commitments to more than 300 companies. Freeport joined Moelis Asset Management LP in 2012 and is committed to providing highly competitive financing solutions to lower middle market companies.