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PineBridge Private Credit holds final close of second direct lending fund at USD1.7bn

PineBridge Investments has held the final close of PineBridge Private Credit II (Fund II) at USD1.7 billion of capital including separately managed account clients and fund-level leverage.

PineBridge Investments has held the final close of PineBridge Private Credit II (Fund II) at USD1.7 billion of capital including separately managed account clients and fund-level leverage.

The fundraising brings PineBridge’s total Private Credit platform to USD3.3 billion. 

As with the entire PineBridge Private Credit team’s strategy, Fund II will focus on making directly originated senior secured loans to US-based, sponsor-backed lower-middle-market companies, largely in the business services, consumer, healthcare, and specialty manufacturing sectors. Within these sectors, loans are typically to companies with EBITDA ranging from USD7.5 million to USD30 million.

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