Comvest Credit Partners Raises $836M For Fourth Direct Lending Fund

Jan 29 2018 | 8:57pm ET

The middle-market direct lending unit of alternative investment company Comvest Partners has raised $836 million in capital commitments for its fourth direct lending fund. 

The new fund, named Comvest Capital IV, was raised by the company's Comvest Credit Partners affiliate and substantially exceeded its initial fundraising target of $650 million, the company said in a statement. Together with fund-level leverage, total available capital is expected to exceed $1.2 billion. 

Comvest Credit Partners provides financing solutions to companies in the middle-market across a broad range of industries including healthcare, technology, transportation/logistics, financial services, consumer/retail, and industrials. The fund expects to provide senior debt, unitranche credit facilities, junior debt, and equity co-investments, with transaction sizes ranging from $20 million up to $200 million, the statement added. Target borrowers will be both sponsored and non-sponsored businesses. 

Kirkland & Ellis served as legal advisor to Comvest Credit Partners in the formation of the nehw fund.     

Founded in 2000 and headquartered in West Palm Beach, FL, Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. The company has invested more than $2.9 billion in over 155 companies since inception and currently has $2.8 billion in assets under management. 

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