Pathlight Capital raises $540m

The Massachusetts-based private debt firm closed its inaugural fund above its target.

By
Stephen Schultz
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Pathlight Capital held a final closing of its inaugural fund, Pathlight Capital Fund I, at $540 million, surpassing its target of $500 million. The firm will use capital raised by the vehicle to invest in companies throughout North America within the retail and consumer goods industries.

Fund I received commitments from several institutions including Indiana Public Retirement System, which committed $100 million, and Tennessee Valley Authority Retirement System, which committed $30 million.

M2O acted as a placement agent for the fund.