Antares Capital completes $6 billion fundraise for Antares Senior Loan Fund II
We advised Antares Capital on the formation, fundraise and related matters for Antares SLF II
Davis Polk advised Antares Capital LP in connection with the formation, fundraise and related matters for Antares Senior Loan Fund II (SLF II), which held its final closing in early July 2023 with approximately $6 billion of asset purchasing power across all fund related vehicles, including a dedicated co-investment vehicle. The fundraise also included commitments to multiple feeder fund and parallel fund vehicles, including vehicles utilizing increased asset-based leverage, an employee investment vehicle and specialized structures for Korean and Japanese investors.
Investors in SLF II primarily include public and private pensions, insurance companies, asset managers and banks across over 50 institutions globally. Over 75% of the SLF II asset purchasing power came from institutions that have previously invested with Antares, signaling that investors continue to turn to Antares for a strong pipeline of attractive investment opportunities.
With more than $61 billion of capital under management and administration as of March 31, 2023, Antares Capital LP is a private credit manager and a leading provider of financing and investment solutions for private equity-backed borrowers and investors. Since its founding in 1996, Antares has built one of the industry’s largest and longest-tenured portfolios of middle-market companies and has been recognized by industry organizations as a leading provider of private debt. Antares offers investors the opportunity to invest in collateralized loan obligations, funds and separately managed accounts. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto.
The Davis Polk investment management team included partner Michael S. Hong, counsel Krishnakshi (Kris) Das and Michael W. Brasher and associates Joel Kuzniecky, Tianye Zhang, Imad Rizkallah, Caroline R. Zhang and Zvi Kroizer. The tax team included partner Ethan R. Goldman and associate Dov Sussman. Partner Meyer C. Dworkin and associates Yuko Sin and Maggie Mantel provided finance advice. Associates Michele Babkine and Sam Dilthey provided ISDA advice. Members of the Davis Polk team are based in the New York and Northern California offices.