CapitalSpring hits target for direct lending fund

The fund reached its target size of $255m having held a first close in April last year.

New York-based CapitalSpring Finance Company has held a final close for its fourth investment fund with $255 million in commitments.

CapitalSpring Direct Lending Partners (CSDLP) was heavily oversubscribed, the firm said in a statement confirming the close. It received commitments from a diverse group of endowments, foundations, pension funds, funds of funds, insurance companies and family offices in the US and Europe, it added.  Minimum commitment size was understood to have been $5 million.

The fund held a first close in April, having launched earlier in the year.

The Delaware-domiciled fund will invest its capital alongside the fund’s general partner, CapitalSpring, which invests its own capital to fund up to half of each new portfolio opportunity.

Its managers included managing partner Richard Fitzgerald and co-chief executive Christopher Unrath.

The firm has offices in Nashville, Los Angeles and Washington DC.