Silver Point Closes $4.6B Opportunistic Credit Fund
Silver Point Capital held the final close of its latest opportunistic credit fund at $4.6 billion, surpassing the $4 billion target and more than double the size of its 2019 predecessor fund, which closed at $1.7 billion.
With a longer-locked, drawdown structure, the fund will invest in cyclically driven market dislocations, including traded credit and restructuring and process-oriented investments. It has a global and opportunistic mandate extending across geographies, market capitalizations, capital structures, and industries.
“With the new fund, which is highly complementary with our flagship hedge funds, our team will have even greater flexibility and increased scale to invest in the type of unique situations – including complex restructurings and process-oriented investments – where the firm has long been a market leader,” said Ed Mulé, Silver Point Capital’s founding partner, CEO and portfolio manager.
The firm did not reveal the fund’s name, but its most recent publicly announced mandate is the Silver Point Specialty Credit Fund III, which is aiming to raise $4 billion and received a $150 million commitment from the New Mexico State Investment Council in February for its opportunistic lending program. NMSIC committed $150 million to the same fund in 2022.
Founded in 2002 by Mulé and Bob O’Shea, former partners at Goldman Sachs, Silver Point manages over $6 billion across its opportunistic credit funds and approximately $16 billion in special situations overall. The firm manages approximately $31 billion of investable assets across multiple integrated strategies, including direct lending and structured credit.
