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TORONTO, April 22, 2025 (GLOBE NEWSWIRE) — Penfund is pleased to announce the final close of its new senior debt fund, Penfund Prime (“Prime”). Prime will deploy $1.8 billion (USD) of investable capital into unitranche and senior term loans issued by North American borrowers. Seven investments have been completed to date and Prime is actively reviewing new opportunities to support market leading private equity firms and borrowers.
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Penfund will leverage 25+ years of experience investing in best-in-class businesses within sectors of expertise including the automotive aftermarket, financial services, healthcare, distribution and consumer staple sectors. Prime complements Penfund’s existing junior capital platform by expanding the range of capital solutions available to borrowers.
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“Prime enhances our ability to provide innovative and reliable capital solutions to meet the evolving needs of borrowers and investors. Prime will invest based upon Penfund’s disciplined, time-tested underwriting capability and credit philosophy. Our objective is to build a high quality, differentiated portfolio, to offer our founding partners exceptional reporting and to equitably share the benefits of scale as Prime grows. Prime was established as a true partnership and we thank each founding partner for their confidence and support.” stated Richard Bradlow, a Partner at Penfund.
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Matthew Lee, a Partner at Penfund, added, “Prime will be a trusted financing partner for our private equity sponsor and borrower relationships through all market conditions. We are excited to continue growing our relationships across our sectors of specialization.”
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Placemore Capital acted as placement agent for Penfund. Legal and tax advice was provided by Stikeman Elliott LLP and Goodwin Procter LLP, and KPMG LLP served as special tax adviser.
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About Penfund
Penfund is a leading provider of capital to middle market companies throughout North America. The firm is actively investing both senior and junior capital through Prime and Penfund Capital Fund VII. Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high-net-worth individuals located in Canada, the United States, the Middle East, and Europe. Penfund has invested more than C$3.0 billion in over 225 companies since its establishment. Assets under management are approximately C$3.7 billion.
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For further information, please contact:
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Richard Bradlow
Partner
(416) 645-3794
[email protected]
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Adam Breslin
Partner
(416) 645-3796
[email protected]
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Joe Mattina
Partner
(905) 531-8725
[email protected]
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Jeremy Thompson
Partner
(416) 645-3790
[email protected]
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English (US)