Locust Point Capital has closed Locust Point Private Credit Fund at $312 million. The fund was closed oversubscribed, blowing past its initial target of $250 million. About two-thirds of the commitments were made by US investors, while the remaining one-third came from European investors.
The fund will provide subordinate debt, preferred equity, and opportunistic senior mortgage loans to owner operators in the seniors housing and care sector.
Avec Capital/XT Capital Partners served as their placement agent and Morgan Lewis acted as fund counsel.