Medalist Partners Announces the Final Closing of its Second Asset-Backed Private Credit Fund
Medalist Partners, an alternative asset manager focused on asset-backed private credit, structured credit, and CLOs, is pleased to announce the final closing of Opportunity Fund II with $308 million of capital commitments, exceeding its target and significantly above its previous vintage.
Medalist's Opportunity Fund series is an income-oriented private credit strategy focusing on lending opportunities secured by cash flowing, hard assets. Sectors of focus include commercial real estate, residential real estate, aircraft, auto, equipment, factoring and other specialty assets. Leveraging the extensive experience of its team, Medalist continues to maintain a differentiated approach through diversification across asset classes and a focus on smaller and less crowded parts of the specialty finance market, with transaction sizes generally between $3 and $30 million. With this final closing, Fund II will have already drawn approximately 35% of its capital commitments, reflecting a deep pipeline of existing funding partnerships and newly sourced opportunities in what Medalist considers to be a robust environment for non-bank specialty finance lenders.
"We are pleased with the strong investor demand for our latest asset-backed private credit fund from both existing investors as well as new relationships. We are especially appreciative of the support from several new large institutional relationships and consultants, and we look forward to continuing to build upon these partnerships in the future. Most importantly, we are excited about the opportunities we are seeing in the specialty finance market to generate compelling risk-adjusted returns for our clients," said Greg Richter, CEO of Medalist Partners.
About Medalist Partners:
Medalist Partners and its affiliates collectively manage approximately $2.7 billion in AUM across strategies in asset-backed private credit, structured credit and CLOs. The platform includes liquid alternatives, hedge funds and private debt vehicles. Based in New York, the 31-person team is led by partners Greg Richter, Brian Herr and Michael Ardisson. Medalist's clients include pensions, endowments, foundations, banks, fund of funds, family offices and HNW individuals. The business and track record were started within Credit Suisse and Candlewood Investment Group prior to being spun-out as an independent, partner-owned firm in 2018. The Medalist team has extensive experience in specialty finance, structured products, investment banking, securitization, and credit underwriting. For more information, visit www.medalistpartners.com.
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