Comvest Credit Partners closes Fund V
Middle-market private investment firm Comvest Partners' direct lending platform, Comvest Credit Partners, has held the final close of its latest flagship fund, Comvest Credit Partners V (CCP V), with over USD1.3 billion of equity commitments.
The fund has also secured credit facilities to increase its available capital.
To date, CCP V together with parallel funds and separately managed accounts, has provided credit to more than 35 new and existing portfolio companies.
Robert O'Sullivan, Managing Partner of Comvest Credit Partners, says: "We are pleased to mark the close of CCP V and are grateful for the strong support of both our existing and new limited partners, including public and private pension plans, financial and insurance companies, foundations, and family offices. The fundraise exceeded our target, which we believe is a reflection of our investors' confidence in our highly experienced, long-tenured team and the platform's track record of delivering consistently strong risk-adjusted returns."
Comvest Credit Partners provides primarily senior secured debt and unitranche credit facilities with transaction sizes typically ranging from USD25 million to USD250 million. The platform leverages the broader firm's deep industry and operating resources to provide flexible financing solutions to middle-market companies, often in more complex and less competitive market segments. Comvest Credit Partners invests across a broad range of industries, focusing on healthcare, technology, transportation/logistics, financial services, industrials, and consumer/retail. Target borrowers consist of non-sponsored, independently sponsored, and private equity sponsored companies.
Kirkland & Ellis LLP and Foley & Lardner LLP served as legal advisors to Comvest Credit Partners in the formation of CCP V.