First Eagle Investment Management’s alternative credit unit has closed its fourth fund that makes loans to middle-market companies, extending its bet on the booming asset class.
The vehicle, THL Credit Direct Lending Fund IV, has $782 million of available investment capacity, including leverage, First Eagle said in a statement. The fund will focus on providing senior secured loans to mostly private equity-backed companies with $10 million to $40 million in Ebitda (earnings before interest, taxes, depreciation and amortization). First Eagle considers those companies the core part of the middle market.
The fundraising news comes about two months after ...
