Like a vessel catching stronger-than-expected winds, Deerpath Capital Management LP has sailed past its fundraising mark, closing its seventh fund above expectations and reinforcing its position in the private credit market.
The New York–based firm said Thursday that it has finalized Deerpath Capital 7th Fund, exceeding its $2 billion equity goal. The capital will be deployed to finance private equity-backed companies spanning a wide range of industries, the firm said. Deerpath was advised on the fundraise by Purrington Moody Weil LLP.
Billions in Firepower
Deerpath said Fund VII, when combined with anticipated leverage, is expected to provide approximately $3.5 billion in total investable capital, creating a substantial pool to support lower middle-market borrowers.
The fund attracted commitments from more than 70 limited partners, drawing backing from both returning and first-time investors across the United States, Canada, the United Kingdom, Germany, Switzerland and Korea, according to the firm’s statement.
