TPG Twin Brook Capital Partners has closed a $3 billion credit-focused continuation vehicle, led by Coller Capital. This is the largest transaction of its kind in the private credit secondaries market, reflecting rising institutional demand for credit secondaries. The vehicle will acquire a diversified portfolio of floating-rate, senior secured, sponsor-backed loans from TPG Twin Brook's 2016 and 2018 vintage funds, offering existing investors liquidity and new investors access to high-quality private credit assets.
In a significant move for the private credit market, TPG Twin Brook Capital Partners has closed a $3 billion credit-focused continuation vehicle, marking the largest transaction of its kind in the private credit secondaries market. The deal, led by Coller Capital, reflects the growing institutional demand for credit secondaries as the broader private credit market continues to mature [1].
The newly formed continuation vehicle will acquire a diversified portfolio of floating-rate, senior secured, sponsor-backed loans from TPG Twin Brook's 2016 and 2018 vintage funds. This transaction aims to provide liquidity for existing investors while offering new investors access to a high-quality pool of private credit assets managed by a long-tenured and consistent credit platform [2].
Trevor Clark, Founder and Managing Partner of TPG Twin Brook, highlighted the strength of their partnership with Coller Capital and the commitment to delivering liquidity solutions while maximizing the value of high-performing assets. Michael Schad, Partner and Head of Coller Credit Secondaries at Coller Capital, expressed pride in backing TPG Twin Brook in this milestone transaction, noting the high quality and diversification of the portfolio [3].
The transaction underscores the increasing demand for credit secondaries and the importance of thoughtful structure and partnership in achieving multiple investment priorities, including liquidity, alignment, and long-term capital [1].
References:
[1] https://www.collercapital.com/3bn-cv-closed-tpg-twin-brook/
[2] https://www.stocktitan.net/news/TPG/tpg-twin-brook-closes-3-billion-continuation-vehicle-led-by-coller-mt8jthifrtrq.html
[3] https://usaherald.com/tpg-seals-3b-continuation-fund-in-largest-private-credit-secondaries-deal-to-date/
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