Comvest Partners Announces Final Close of Sixth Flagship Credit Fund at $2 Billion
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WEST PALM BEACH, Fla., July 25, 2023-- Comvest Partners (“Comvest”), an operationally focused middle-market private investment firm, today announced that Comvest Credit Partners, its direct lending platform, has completed the final close of its latest flagship fund, Comvest Credit Partners VI ("CCP VI"). CCP VI raised $2 billion in equity commitments, exceeding its initial target fund size of $1.7 billion, to provide financing to mid-sized North American businesses.
“We are delighted to mark the close of CCP VI with such strong support from new and existing investors,” said Robert O’Sullivan, Managing Partner and a co-founder of Comvest Credit Partners. “Comvest Credit Partners has been committed to providing flexible debt financing solutions that help drive meaningful growth of companies in our industries of expertise since 2006. We believe the strength of our fundraise during a challenging market environment is a testament to our veteran investment team and the platform’s long-term track record through various market cycles.”
“We believe our extensive originations network, highly experienced team, and ability to leverage the operating resources and sector expertise of the broader Comvest investment platform are differentiating capabilities that position Comvest Credit Partners as a strong and enduring source of non-bank private credit solutions,” Mr. O’Sullivan said.
CCP VI’s Limited Partner base includes public and private pension plans, asset management firms, insurance companies, foundations, and family offices. As with its predecessor funds, CCP VI provides primarily senior secured debt capital to middle market companies in support of growth, acquisitions, buyouts, refinancings, and recapitalizations, with transaction sizes of up to $250 million. CCP VI supports both private equity-sponsored and non-sponsored companies within targeted industries that include healthcare services, financial services and specialty finance, business and technology services, consumer and retail, and industrials.
Kirkland & Ellis LLP and Foley & Lardner LLP served as legal advisors to Comvest Credit Partners in the formation of CCP VI.
About Comvest Partners
Comvest Partners is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $9.3 billion in assets, and has invested over $11 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.
Robert O’Sullivan, Managing Partner, Comvest Credit Partners – firstname.lastname@example.org
David Weiss, Managing Director, Investor Relations, Comvest Partners – email@example.com
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