Northleaf Raises Over $1 Billion for Private Credit Strategy (1)

Northleaf Capital Partners Ltd. raised more than $1 billion for its latest private credit fund, which is set to invest in direct loans for small and mid-sized companies as well as asset-based finance.

The firm has already deployed about 40% of the vehicle, dubbed Northleaf Private Credit III, according to a statement. In conjunction with the close, the company also issued a so-called rated note, a security that packages the fund, making it cheaper for insurers to buy them by effectively cutting the amount of regulatory capital they need to hold against those investments.

Private credit funds are increasingly looking ...