News

 

 

 

Greenwich, CT, August 2, 2021 – Silver Point Capital, L.P. (“Silver Point” or the “Firm”) announced today that its financing business, Silver Point Finance, has completed the final close of Silver Point Specialty Credit Fund II (“Specialty Credit Fund II” or the “Fund”) at the Fund’s $2 billion hard cap, significantly exceeding its $1 billion target.

 

In addition to other existing capital committed to the strategy, as well as permitted leverage, after the final close of Specialty Credit Fund II, Silver Point Finance now manages over $5.5 billion in investable capital to deploy into its direct lending strategy.

 

Silver Point Finance’s Specialty Credit strategy pursues a senior secured direct lending strategy, focusing on middle-market special situations loan originations. The Firm has an extensive track record in the opportunistic credit strategy. Silver Point’s Founders have provided financing solutions to middle market companies for over 25 years.

 

Since inception in 2002, Silver Point has provided more than $13.5 billion in financing solutions to over 300 middle-market companies. The Specialty Credit strategy leverages Silver Point’s experience, broad and differentiated sourcing platform, deep credit analysis, underwriting expertise, and asset management skills. 

 

Since the fourth quarter of 2020, Silver Point Finance’s Specialty Credit strategy has made approximately $2.2 billion in new and follow on investments, with more than $900 million deployed in the second quarter of 2021.

 

Ed Mulé and Bob O’Shea, co-Founders of Silver Point, commented: “We are proud that, with 25 years’ experience in providing custom financing solutions to middle-market companies, Silver Point is well recognized by borrowers as a knowledgeable and experienced partner who is able to provide financing solutions in a timely and reliable manner. Our partnership approach, structuring creativity and flexibility, industry expertise and efficient execution allow Silver Point to understand value, make judgements quickly and provide financing solutions to borrowers with various capital needs.”

 

Specialty Credit Fund II attracted strong support from a diverse group of new and existing institutional investors, including pensions, sovereign wealth funds, endowments, foundations, insurance companies, and family offices. Investors represented both U.S. and non-U.S. capital, including allocations from Canada, Europe, and Asia. 

 

The co-Founders continued: “We thank our investors, both new and existing, for their strong backing of Specialty Credit Fund II and their continued confidence in our team, strategy, experience and track record. We are so grateful for our investors’ continued support, and we look forward to continuing to build upon the successes of our Silver Point Finance business, both for our LPs and for our portfolio companies.”