Tennenbaum Capital Partners, LLC, a Santa Monica, CA-based alternative investment management firm, closed TCP Direct Lending Fund VIII and its affiliated vehicles with more than $1.9 billion of investor equity commitments.
A wide variety of existing and new investors including pension, endowment, foundation, insurance, sovereign wealth and family offices domestically and globally invested in the fund.
Led by Lee R. Landrum, Managing Partner, the fund is designed to build on TCP’s track record of investing in directly-originated, performing, senior-secured debt in middle-market companies. TCP’s Direct Lending strategy employs a value-oriented approach, with a preference for less competitive deals that may have been overlooked by other investors because of individual company characteristics, including industry, legal/regulatory or transactional complexity.
Tennenbaum Capital Partners has approximately $9 billion of committed capital focused on direct lending and special situations for middle-market companies.
The firm manages funds and accounts on behalf of global institutional investors and a publicly-traded business development company, TCP Capital Corp. (NASDAQ: TCPC).
Since its founding in 1999, TCP has invested approximately $19 billion in over 500 companies.
It is headquartered in Los Angeles with additional offices in Atlanta, New York and San Francisco.