Steadfast to Launch $3 Billion Closed-end Fund
November 21, 2016 | DI Wire
Steadfast is launching a $3 billion closed-end investment fund called Steadfast Alcentra Global Credit Fund, according to preliminary documents filed with the Securities and Exchange Commission.
The fund, which plans to offer 300 million shares, intends to invest in lower middle-market and middle-market companies in the form of fixed and floating rate senior secured loans, second lien loans and subordinated debt and minority equity investments.
The company considers lower middle-market and middle-market companies to be companies having annual earnings, before interest, taxes, depreciation and amortization of between $5 million and $50 million and/or revenues between $25 million and $750 million.
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