Sagard Credit builds growth momentum following recent CLO platform acquisition, Announces successful fund close, exceeding its initial target
Toronto, CA – May 30, 2024 – Sagard, a global alternative asset management firm, today announced the final closing of its first Sagard Senior Lending Partners Fund (“SSLP”). The strategy raised $741M in investor commitments to the senior lending strategy, exceeding the initial fund target of $600M. We believe this milestone reinforces Sagard’s position as a growing player in the private credit space. Sagard’s credit investment platform and its strategic partner, Sagard | HalseyPoint, together manage $6B in assets including $2.8B under its private credit and senior lending strategies and $3.2B under management at Sagard | HalseyPoint in the CLO space as of March 2024, including the increase in SSLP.
This landmark achievement underscores Sagard’s commitment to delivering attractive returns to its investors by focusing on servicing middle-market businesses in the U.S. and Canada.
“Securing $741M amidst an uncertain economic environment and fundraising climate is a testament to the confidence investors have placed in Sagard’s vision and capabilities,” said Dev Gopalan, Partner and Portfolio Manager at Sagard Senior Lending. “We are immensely proud of our team and grateful for the trust and support of our investors as we embark on this journey to create lasting value for our LPs.”
The fund has already closed 10 deals and is approximately 28% committed.
The close highlights Sagard’s growth momentum in the credit space, growing from zero in 2017 to the full Sagard credit investment platform and its strategic partner, Sagard | HalseyPoint, together managing $6B in assets including $2.8B under its private credit and senior lending strategies and $3.2B under management at Sagard | HalseyPoint in the CLO space as of March 2024, including the increase in SSLP. Sagard successfully raised $1.4B and has been deploying its second private credit fund over the course of 2022 and 2023. It then launched a complementary investment strategy (SSLP) in 2022. In March 2024, Sagard acquired a 40% stake in HalseyPoint CLO platform, offering its investing partners a new access point for investing in U.S. corporate credit and accelerating growth in a dynamic and expanding part of the capital markets.
“We see tremendous potential in the middle-market segment, where companies often require specialized financing solutions to capitalize on growth opportunities,” added Adam Vigna, Managing Partner and CIO at Sagard. “With Sagard’s deep-rooted experience and collaborative approach, we are well-positioned to partner with leading businesses ready to unlock their full potential.”
Sagard will launch a CLO Equity Fund later this year and its third private credit fund Sagard Credit Partners III in 2025.
About Sagard Credit
Sagard Credit provides bespoke debt solutions to public and private middle-market companies seeking capital in the U.S. and Canada. The credit strategies focus on opportunistic credit, senior lending, and CLOs. Our investments are tailored to the company’s specific needs, including support for growth, M&A, refinancing, recapitalizations, and other strategic initiatives. Sagard’s credit offering includes investment strategies in private credit, senior lending, collateralized loan obligations, and retail solutions.
About Sagard
Sagard is a global multi-strategy alternative asset management firm with more than US$25B under management, 150+ portfolio companies, and 300 professionals. We invest in venture capital, private equity, private credit, real estate, and royalties. We deliver flexible capital, an entrepreneurial culture, and a global network of investors, commercial partners, advisors, and value-creation experts. The firm has offices in Canada, the United States, Europe and the Middle East. For more information, visit staging.sagardholdings.com.
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