PineBridge Exceeds Expectations, Closes Private Credit Fund III at $1.7b

PineBridge, a leading global asset manager, has successfully closed its third private credit fund, surpassing its initial target by raising $1.7 billion. With this achievement, PineBridge's private credit platform now stands at an impressive $5 billion, solidifying its position in the market.

The newly closed PineBridge Private Credit III fund will primarily focus on providing directly originated senior secured loans to sponsor-backed lower-middle-market companies based in the U.S. Its targeted sectors include business services, consumer, healthcare, and specialty manufacturing. Notably, the fund will cater to companies with EBITDA ranging from $7.5 million to $30 million.

PineBridge's private credit team has demonstrated its commitment by deploying $4.5 billion across 79 portfolio companies to date, showcasing its expertise in the sector. As of December 31, 2023, PineBridge manages a staggering $157.1 billion across various global asset classes, underscoring its continued dedication to delivering value to investors worldwide.