Comvest Credit Partners, the direct lending platform of $9.3 billion private investment firm Comvest Partners, closed its latest flagship fund with $2 billion in equity commitments.
According to Alternatives Watch reporting, investors in Comvest Credit Partners VI (CCP VI) included: Maine Public Employees Retirement System; Ohio Police & Fire Pension Fund and Texas County and District Retirement System.
Since 2006, the West Palm Beach, Fla.-based Comvest has been providing debt financing solutions to the middle-market.
“We believe our extensive originations network, highly experienced team, and ability to leverage the operating resources and sector expertise of the broader Comvest investment platform are differentiating capabilities that position Comvest Credit Partners as a strong and enduring source of non-bank private credit solutions,” Robert O’Sullivan, managing partner and a co-founder of Comvest Credit Partners said.
The latest fund, CCP VI, provides primarily senior secured debt capital to middle market companies in support of growth, acquisitions, buyouts, refinancings and recapitalizations with transaction sizes of up to $250 million.
The new fund supports both private equity-sponsored and non-sponsored companies within target industries that include healthcare services, financial services and specialty finance, business and technology services, consumer and retail and industrials.
Kirkland & Ellis and Foley & Lardner served as legal advisors to Comvest Credit Partners in setting up CCP VI.