Locust Point: $668M for US Senior Housing Investments
- Locust Point Capital has finalized its Locust Point Private Credit Fund III, securing $668 million in capital commitments.
- Fund III will target transactions under $50 million, maintaining Locust Point’s focus on the lower middle market.
- eric Smith, co-founder and CEO of Locust Point Capital, noted the favorable macroeconomic conditions and demographic trends.
Locust Point Capital surges forward, closing Fund III with a ample $668 million, signaling robust investment in US senior housing. The fund strategically targets structured credit solutions for senior housing communities, addressing a crucial market need. This marks a notable 56% increase from their previous fund, underscoring strong investor confidence. Dan Contardi steps up as president,aligning with the fund’s strategic direction. The firm prioritizes income generation and principal protection,a key element behind their sustained success. With favorable economic conditions and demographic trends, Locust Point anticipates strong performance within the senior housing sector.News Directory 3 reports on this breaking news. Discover what’s next as Locust Point Capital expands it’s footprint in the structured credit market.
Locust Point capital Closes $668M Fund for Senior Housing Credit
Locust Point Capital has finalized its Locust Point Private Credit Fund III, securing $668 million in capital commitments. This represents a 56% increase over the firm’s previous $428 million fund. The fund will continue to focus on providing structured credit solutions to experienced owner-operators within the U.S. seniors housing communities, addressing a critical need for senior housing credit.
Fund III will target transactions under $50 million, maintaining Locust Point’s focus on the lower middle market. The firm prioritizes income generation and principal protection. Since its inception in 2015, Locust Point reports no principal losses.
eric Smith, co-founder and CEO of Locust Point Capital, noted the favorable macroeconomic conditions and demographic trends. He believes these factors position Fund III for strong performance, notably within the senior housing industry.
The fund’s closing coincides with a leadership change. Dan Contardi,a co-founder and formerly executive managing director,has been promoted to president.
To date, Locust Point has secured more than $1.6 billion in capital commitments across its credit-focused funds.
What’s next
Locust Point Capital plans to continue deploying capital from Fund III, focusing on strategic investments in the seniors housing sector and expanding its reach in providing structured credit solutions.