Proskauer Leads PineBridge On $596M Direct Lending Fund

Law360 (January 2, 2020, 3:52 PM EST) -- New York-headquartered PineBridge Investments said Thursday that it has wrapped up its debut direct lending fund with a total of $596 million in available capital to provide loans to U.S.-based, private equity-backed companies in the lower middle market.

The fund, billed as PineBridge Private Credit LP, collected $396 million from limited partners and has an additional $200 million in available capital thanks to a loan provided by Wells Fargo Bank NA, according to a statement. The fund, which completed fundraising on Dec. 16, will provide senior secured loans to companies, with an emphasis on those within the business services, consumer, food...

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