Summit Partners raises $520m credit fund

The latest fund, Summit Partners Credit Fund, brings total equity and credit capital commitments managed by Summit to almost $15bn, $2.3bn of which is in combined credit assets.

Summit first began raising credit investment funds in 1994, when it closed a subordinated debt fund.

Investors
New and existing investors, including public and private pension plans, insurance companies, funds-of-funds, family offices, endowments and foundations committed to the fund.

Investments
The vehicle will back profitable mid-market companies looking for credit to support a particular objective such as an acquisition, buying out a partner, or any other defined project. Industries including technology, healthcare, life sciences, financial technology and services, consumer and industrials will be considered in North America, Europe and Asia.

People
The fund will be run by managing directors Todd Hearle and Jamie Freeland in Boston.

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