At a glance
- As Private Wealth Daily previously reported, the investment was announced on Oct. 14.
- Deal Tracker records the New Holland transaction as announced, not closed, and lists it as Foundation Credit's only deal in the past 12 months.
- For allocators, the pending ownership change attaches a live question to a fund that has already held its final close.
Foundation Credit closed its second infrastructure debt fund at approximately $540 million, above a $500 million target.
The final close landed roughly 8% above target and came a week after the firm, a US private credit manager, announced a majority investment from New Holland Capital, AltAssets reported. As Private Wealth Daily previously reported, the investment was announced on Oct. 14.
Deal Tracker records the New Holland transaction as announced, not closed, and lists it as Foundation Credit's only deal in the past 12 months. For allocators, the pending ownership change attaches a live question to a fund that has already held its final close. Diligence on the $540 million vehicle runs through a transaction that is announced rather than completed.
Reported by the Fundraising desk from AltAssets and Deal Tracker. Published . Corrections