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FrontPoint Direct Lending Fund Raises $1B
Hedge fund firm, FrontPoint Partners, has raised $1 billion for its direct lending fund.
Hedge fund firm, FrontPoint Partners, has raised $1 billion for its direct lending fund, The Wall Street Journal reports. The FrontPoint-SJC Direct Lending Fund, which will provide senior secured loans to companies with annual revenue of between $75 million and $500 million, received investments majorly from existing clients of the firm.
The fund, run by Stephen Czech, has already lent about $165 million of investors money and is expected to be fully invested by the second quarter of 2012. The fund, which will also call investors’ capital only when it needs to make a loan, will distribute earnings quarterly and take half its incentive fee on those profits.
Click here for the story from The Wall Street Journal.
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