Deerpath Capital has closed its seventh flagship senior direct lending fund with more than $3.5bn (£2.6bn) of investable capital.
The US-based manager said Deerpath Fund VII received backing from both existing and new investors, securing commitments from more than 70 limited partners across the US, Canada, the UK, Germany, Switzerland and Korea.
The firm said the fund exceeded its $2bn equity target and provides cash flow-based senior debt financing to sponsor-backed US lower middle market companies.
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Since inception, Deerpath has invested more than $14bn in lower middle market senior direct lending. The platform is further supported by the manager’s collateralised loan obligation (CLO) issuance, which totalled $1.6bn across three transactions in 2025.
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“The success of Fund VII reflects the strong, long-term partnerships we’ve built with our global investor base,” said Antonella Napolitano, global head of investor relations and capital formation. “Investors continue to value our disciplined underwriting, private equity-style diligence, careful monitoring, and consistent performance throughout market cycles.”
Deerpath currently manages around $9bn in assets and operates through regionally based US origination and underwriting teams.
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