Deerpath Capital Management, a firm that makes loans to smaller companies, has closed its fifth fund at $1.1bn. The firm primarily lends to private equity-backed lower middle-market companies.
The vehicle, Deerpath Capital V LP, exceeded the firm’s initial target and gathered capital from more than 50 limited partners world-wide, the firm said Wednesday. Combined with debt financing, the fundraising gives Deerpath more than $2bn to deploy, it said.
Deerpath was founded in 2007 by a team of experienced principals to pursue senior debt investments in lower-middle market companies. Since inception, Deerpath has completed over 350 investments, deploying over $3bn of invested capital across a broad range of industries, investment products and transaction types.