– TPG Twin Brook Capital Partners, the middle-market direct lending platform of TPG, and Coller Capital closed a $3 billion credit-focused continuation vehicle, marking the largest completed transaction of its kind in the private credit secondaries market.
– The vehicle acquired a diversified portfolio of floating-rate, senior secured, sponsor-backed loans from TPG Twin Brook’s 2016 and 2018 vintage funds.
– The transaction provides existing investors with a liquidity option and offers new investors access to a high-quality, diversified private credit portfolio managed by a long-tenured team.
– It reflects growing institutional demand for credit secondaries as the private credit market matures and expands.
– Trevor Clark, Founder and Managing Partner of TPG Twin Brook, described the deal as a milestone partnership with Coller Capital, delivering creative liquidity solutions and validating the firm’s flexible, solutions-based approach.
– Michael Schad, Partner at Coller Capital, highlighted the high quality and diversification of the portfolio and the firm’s support for its continued success through strategic, long-term capital.
– Jonathan Leu, Principal at Coller Capital, noted that the solution met priorities of liquidity, alignment, and long-term capital while demonstrating the benefits of strong portfolio fundamentals and thoughtful structuring.
– The portfolio consists of highly diversified and performing loans to North American middle-market borrowers.
