Penfund Capital Fund VI holds initial close

Penfund has held an initial close for its sixth fund, Penfund Capital Fund VI.

At first close, Penfund Capital Fund VI secured $#SUBSCRIBERS ONLY CONTENT Where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. See what you have been missing and be informed!#

In October 2016, Penfund announced closing of its fifth fund, Penfund Capital Fund V, with committed capital of $724 million.

Founded in 1979, Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm was acquired by its current management team in 2000.

Penfund offering a comprehensive range of junior capital products to mid-market companies across North America, in both equity and debt. As a specialty lender, Penfund will focus on second lien and mezzanine loans but also has the capacity to provide private high yield, unitranche and other credit products. As an equity investor, Pendunf will co-invest with equity sponsors and may selectively complete stand-alone equity investments.

photo credit: brigachtal via pixabay