Sagard Raises $741M for Inaugural Senior Lending Fund
Sagard, a global alternative asset manager, held the final closing of its debut Sagard Senior Lending Partners Fund, raising $741 million for the strategy and exceeding the initial target of $600 million.
Sagard’s credit investment platform and its strategic partner, Sagard | HalseyPoint, together manage $6 billion in assets, including $2.8 billion under its private credit and senior lending strategies and $3.2 billion under management at Sagard | HalseyPoint in the collateralized loan obligation space as of March 2024.
This significant milestone highlights Sagard’s dedication to providing strong returns for its investors, the firm said, by concentrating on serving middle-market companies in the U.S. and Canada.
Commenting on the fund, which has already closed 10 deals and is approximately 28% committed, Dev Gopalan, partner and portfolio manager at Sagard Senior Lending, said, “securing $741 million amidst an uncertain economic environment and fundraising climate is a testament to the confidence investors have placed in Sagard’s vision and capabilities.”
The firm has raised $1.4 billion and has been actively deploying its second private credit fund throughout 2022 and 2023. In 2022, it also launched a complementary investing approach known as SSLP.
In March 2024, Sagard acquired a 40% stake in HalseyPoint CLO platform, offering its investing partners a new access point for investing in U.S. corporate credit and accelerating growth in a dynamic and expanding part of the capital markets.
Toronto-based Sagard will launch a CLO Equity Fund later this year and its third private credit fund Sagard Credit Partners III in 2025.
The firm has more than $25 billion under management investing in venture capital, private equity, private credit, real estate, and royalties.