17Capital Closes $5.5B Strategic Lending Fund
NAV finance specialist 17Capital has announced the final close of its Strategic Lending Fund 6, securing approximately $5.5 billion in total commitments, including co-investment and affiliated vehicles. The fund more than doubles the $2.9 billion raised for its predecessor in 2021 and ranks among the five largest private credit funds closed globally so far in 2025, according to the firm.
Backed by a globally diversified investor base—comprising pension funds, insurers, sovereign wealth funds, family offices, and endowments across North America, Europe, the Middle East, and Asia—Fund 6 is also the first vehicle raised by 17Capital since it formed a strategic partnership with Oaktree Capital Management in 2022.
Fund 6 has already deployed $2.5 billion across 10 investments, split evenly between the U.S. and Europe. It continues 17Capital’s strategy of providing non-dilutive, flexible capital solutions to private equity general partners (GPs), helping fund GP commitments, drive platform growth, support consolidation strategies, and facilitate succession planning.
In addition to its Strategic Lending strategy, 17Capital manages a separate Credit program offering NAV loans to private equity buyout funds. Since the 2020 close of its inaugural €2.6 billion Credit Fund, the firm has deployed over $6.7 billion through NAV-based credit solutions.
“Since opening our New York office in 2016, we have extended our leadership in NAV finance across the U.S., deploying over $6 billion across more than 30 U.S. investments,” said Dane Graham, Partner at 17Capital. “This is reflected in Fund 6, where half of the existing portfolio is invested with U.S. managers.”
Founded in 2008, 17Capital operates out of London and New York and has raised $19 billion across eight funds and mandates. The firm has completed 119 investments and 57 exits.
17Capital secured a $1 billion investment from Brookfield Credit, the private credit investment arm of Brookfield Asset Management, after experiencing significant growth in its net asset value (NAV) financing operations.