Eldridge Capital Management closed Eldridge Diversified Credit Fund I, the firm’s first fund under its diversified credit platform.
The transaction includes equity commitments from Carlyle AlpInvest and co-investors, combined with debt financing arranged by BNP Paribas, resulting in approximately $1.5 billion of deployable capital. The fund was formed through a credit secondary solution anchored by a portfolio of loans and leases acquired from Eldridge and its affiliates. EDCF I is built around a diversified portfolio of private credit assets and aims to serve institutional borrowers through a flexible, multi-strategy approach. The fund blends corporate credit capabilities with asset-based lending exposure, leveraging Eldridge’s experience in originating loans and equipment leases across a range of industries.
Headquartered in Connecticut, Eldridge Capital Management is a diversified investment firm with strategies spanning credit, real estate, and insurance. Carlyle AlpInvest, the private equity secondaries and co-investment arm of Carlyle (Nasdaq: CG), led the equity investment.
BNP Paribas provided the senior credit facility, while PJT Partners served as lead financial adviser and Jefferies acted as co-lead. Legal counsel was provided by Kirkland & Ellis LLP for Eldridge and Ropes & Gray LLP for Carlyle AlpInvest.