Private Debt Partners, a Toronto-headquartered alternative asset manager, has launched a senior secured debt fund, targeting $750 million.
The Senior Secured Direct Lending Fund is looking to build a sector-agnostic portfolio of senior secured loans. Its typical loan terms will be up to 10 years fixed rate, with flexibility of amortisation. Loans made by Private Debt Partners will aim to deliver a yield to investors in the 6-6.5 percent range.
The main investment strategy of the fund is senior secured direct lending to Canadian mid-market companies with track records of sustainable cashflow. The direct lending fund is looking to make loans sized from $10 million to $50 million. Further details on the new vehicle were not disclosed.
The firm will also invest $5 million-$20 million in senior secured debt via another debt fund, Private Debt Partners Enhanced Return Fund. The firm provides loans in the 7-12 percent range with variable and fixed rate options.
Private Debt Partners was co-founded by three Fiera Private Debt alumni: Jeffrey Deacon, Greg Dimmer, and Jean-Christophe Greck.
Deacon and Dimmer are co-heads of origination and portfolio management at Private Debt Partners. Both are focused on deal origination and portfolio management. Dimmer also oversees finance and the operations of the business. As the firm’s chief investment officer, Greck is focused on fundraising, investor relations, origination and portfolio management.