Brightwood Capital Advisors, a private equity firm, has assumed control of two private credit funds from Capital Dynamics, an asset management firm, which has gained about $300 million in capital. 

Under the transaction, the existing fund structures will remain in their current position, which will allow current limited partners to maintain their investments. The partners will not be required to make any additional capital commitment, Brightwood said.  

Specific financial terms of the transaction were not disclosed. 

“This transaction demonstrates Brightwood’s dynamic approach to partnership and our ability to deliver tailored solutions in an evolving private credit landscape,” Sengal Selassie, CEO and founder of Brightwood, said. “Our experienced team which boasts 12 risk and portfolio management professionals, including dedicated special assets professionals, positions Brightwood to be a solution for private credit portfolios that require a robust, focused approach.” 

Prior to Brightwood and Capital Dynamics’ most recent partnership, the two firms had previously collaborated to offer limited partners investment opportunities and liquidity through a secondary purchase option with Tikehau Capital, an alternative asset management firm. 

The transaction marks the second deal Brightwood has completed with Tikehau in the past 18 months, the firm said. 

New York City-based Brightwood Capital Advisors, founded in 2010, manages more than $6 billion in assets as of September 30, the firm said. 

Switzerland-based Capital Dynamics, founded in 1988, oversees more than $15 billion in assets under management and advisement, and has about 150 employees across 13 offices in Europe, North America, and Asia.