By Cristal Cody
Tupelo, Miss., Sept. 2 – Fifth Street Management LLC announced on Tuesday that it closed on a $305 million senior loan fund.
Fifth Street Senior Loan Fund II, LLC is a multi-tranche financing facility that is comprised of class A loans (DBRS: AAA), class B loans (DBRS: A) and class C loans (DBRS: BBB).
Natixis Securities Americas LLC was the placement agent.
Fifth Street Management will manage the senior loan fund.
The loans are collateralized primarily by a portfolio of U.S. middle market corporate loans and other corporate obligations.
Fifth Street Senior Loan Fund II’s portfolio of assets will be sourced and underwritten through the firm’s middle market origination platform.
The senior loan fund will invest in middle market senior secured loans, according to the release.
Fifth Street Senior Loan Fund II is designed to continue the strategy initiated by Fifth Street Senior Loan Fund I, LLC, a $210 million pool of capital that closed in February, the release said.
Fifth Street Management is an alternative asset manager based in Greenwich, Conn.
| Issuer: | Fifth Street Senior Loan Fund II, LLC
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| Amount: | $305 million
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| Securities: | Loans
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| Structure: | Senior loan fund
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| Placement agent: | Natixis Securities Americas LLC
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| Manager: | Fifth Street Management LLC
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| Class A loans
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| Rating: | DBRS: AAA
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| Class B loans
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| Rating: | DBRS: A
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| Class C loans
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| Rating: | DBRS: BBB
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