PineBridge Investments, a global asset manager, has closed its PineBridge Private Credit II Fund. The fund furthers its lower middle-market direct lending strategy.
The private credit team, with separately managed account clients and fund-level leverage, raised $1.7 billion which brings the total private credit platform to $3.3 billion. The firm will focus the fund on making directly originated senior secured loans to U.S., sponsor-backed firms in business services, consumer, healthcare, and manufacturing sectors.
“We are pleased to have reached this significant milestone together with our investors, and believe Fund II will benefit from a sustained, rich opportunity set predominantly composed of first-lien senior secured loans,” said Jim Fisher, head of private credit at PineBridge Investments. “Our veteran team members have specialized in lower-middle-market direct lending over multiple decades and through various credit cycles, and this area of the market has continued to feature transactions with strong credit profiles and attractive performance potential.”