Sound Point Capital Management LP, an alternative credit manager with more than $45 billion in assets under management, has closed Sound Point U.S. Direct Lending Fund III, its largest direct lending fund to date, with $1.2 billion of total investable capital.
USDL III will focus on middle market, sponsor-backed companies. To date, the fund has already committed more than $650 million of its investable capital across 33 investments and a range of industries. Additionally, Sound Point Direct Lending closed on a separately managed account that is expected to grow to more than $500 million.