LBC Credit Partners, a provider of financing solutions to middle market companies, announced the closing of LBC Credit Partners II, L.P. (LBC II), with $645m of committed capital .
LBC II, which surpassed the original target of $400m, follows the firm’s $300m fund I, established in 2005.
The firm was backed by its existing investor base and secured additional support from several new institutional partners.
LBC Credit Partners provides its financial solutions including senior term, unitranche, second lien, junior secured, mezzanine debt and equity co-investments to companies operating in a wide range of industries with EBITDA generally greater than $10m.
It tipically follows a “lend and hold” strategy and invests $10m to $50m per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings.