Canadian investor Penfund raised C$1.15 billion for its sixth fund at its final close, exceeding its C$900 million target.
Penfund Capital Fund VI LP will offer junior capital products to North American midmarket companies with a per-transaction size of up to C$230 million. It will provide second-lien, mezzanine, private high-yield loans and other credit products as a specialty lender. As an equity investor, it will target co-investments with equity sponsors or pursue select stand-alone investments.
Park Hill Group LLC was placement agent for Penfund, with Stikeman Elliott LLP and Latham & Watkins LLP serving as legal advisers.