Silver Point Capital has successfully closed its latest opportunistic credit fund with $4.6bn in total commitments, surpassing its initial $4bn target, and more double the size of its predecessor, which closed in 2019 at $1.7bn.
Structured with longer lock-up periods and a drawdown format, the fund will focus on investments in market dislocations driven by economic cycles, traded credit opportunities, and restructuring or process-oriented investments. The fund operates a global mandate, allowing it to invest flexibly across various regions, market capitalisations, industries, and parts of the capital structure.
While Silver Point did not disclose the name of the new fund, its most recent public filing involved the Silver Point Specialty Credit Fund III, which had been targeting $4bn. In February, the New Mexico State Investment Council (NMSIC) committed $150m to this fund as part of its opportunistic lending strategy, following a similar allocation in 2022. The predecessor fund, launched in 2019, primarily focused on direct lending.
Silver Point Capital, founded in 2002 by former Goldman Sachs partners Ed Mulé and Bob O’Shea, now manages over $6bn across its opportunistic credit funds, with $16bn dedicated to special situations. Total investable assets under management have grown to around $31bn, spanning integrated strategies that include direct lending and structured credit.
