GoldPoint raises $1.3 billion for junior debt fund

The New York Life Insurance subsidiary surpassed its previous $1bn mezz fund.

GoldPoint Partners has held a final close of its fourth mezzanine fund on $1.3 billion, Private Debt Investor has confirmed.

The GoldPoint Mezzanine Partners IV investor base includes public and private pension funds, financial institutions, insurance companies, family offices and a number of high-net-worth individuals, PE Hub Network first reported.

The firm did not respond to a request for comment.

The fund has a commitment from the Amica Mutual Insurance Company, according to PDI data. Partners IV started fundraising in 2015 and targets mezzanine debt opportunities in a diverse number of sectors in North America.

The firm, a subsidiary of New York Life Insurance Company, had raised $811 million from 34 investors as of August, a US Securities and Exchange Commission filing shows.

GoldPoint raised $1.03 billion for its third mezzanine fund, launched in 2010, PDI data also shows. That fund garnered commitments from the Chicago Municipal Employees Annuity and Benefit Fund ($25 million), Pentegra Retirement Services, and Phoenix Life Insurance Company.

The firm raised $800 million in its second fund, launched in 2006, surpassing a $600 million target. After launching in 2002, the firm’s first mezzanine fund raised $475 million, short of its original $600 million target.

GoldPoint has invested $3.2 billion in over 125 mezzanine transactions through April 2017, according to its website. The firm’s mezzanine programme typically invests $20 million to $50 million per transaction alongside private equity sponsors.