LongWater Unveils Private Credit, Capital Solutions Strategy

LongWater Opportunities LLC, a lower-middle-market alternative asset manager, has launched a private credit and capital services strategy.

LongWater hired a team of eight private investment professionals who previously led and managed the private debt and equity group of Reinsurance Group of America.

The group will be known as LongWater Private Credit and Capital Solutions and will continue to be headed by senior managing director Kevin Prunty.

The team previously managed a portfolio of over $4 billion in assets in a complementary strategy, including direct credit and equity co-investment commitments as well as primary LP capital commitments to lower-middle market buyout firms.

“In this challenging market, headlined by rising interest rates and widening spreads, there is significant demand from lower-middle market companies for private financing solutions. Through our new private credit and capital solutions strategy, we will provide investors with an attractive opportunity to capitalize on the tremendous opportunities in the lower middle market,” said Jordan Bastable, co-founder at LongWater.

Found in 2009, LongWater has offices in Fargo, ND, Dallas, TX and St. Louis, MO.