The fund confirmed that the first $75 million installment closed today, with the remaining balance scheduled for issuance in October. These notes are set to mature on September 30, 2029, and grant the firm the option to redeem the debt early at par value, potentially including a make-whole premium.
Management plans to utilize the full proceeds to retire its 4.04% Series A Senior Notes, which are due on October 30, 2026. Until those notes are fully repaid, the capital will temporarily support the reduction of balances under the firm's revolving credit facilities. Once the debt transition is complete, the company intends to pivot back to its core investment strategy, providing debt capital to private companies backed by equity sponsors.

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