FrontWell raises $350m for new private credit fund

Toronto-based FrontWell Capital Partners launched a private credit fund focused on providing transitionary senior debt financing to middle-market companies in the U.S. and Canada. Credit industry veteran Patrick Dalton is FrontWell’s CEO. Previously he was founder and CEO of Gordon Brothers Finance Company and managed several businesses as senior partner of Apollo Global Management’s credit platform and held CIO roles at the firm as well. Dalton was also interim CEO at Fifth Street Capital Corp prior to its sale to Oaktree. He was also a senior underwriter for Goldman Sachs’ Mezzanine Funds. “We are thrilled to launch FrontWell and to capitalize on the significant market opportunity in front of us,” said Dalton. “As middle-market companies increasingly struggle to access credit amidst economic uncertainty, FrontWell is well positioned to provide flexible and responsive lending solutions through our true partnership approach, comprehensive product offering and deep understanding of cash flows and net asset values.” Dalton is joined by John Ho, who is the new firm’s CFO. He had been a CFO of an asset-based lender and specialty finance company and prior to that was director of finance for a publicly listed operating subsidiary of Brookfield Asset Management. The firm so far has raised committed seed capital of more than US$350 million from a group of international investors. The fund offering includes asset-based and cash flow loans to maximize liquidity support for borrowers that are looking beyond traditional sources of capital – including senior secured term loans and revolving credit facilities. The strategy seeks to lend to companies requiring liquidity to support business transitions, including turnarounds, restructurings, acquisitions and changes in ownership or control.

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