Medalist Partners, an alternative investment management firm focused on private credit and structured credit, is pleased to announce the final closing of Medalist Partners Asset-Based Private Credit Fund III. The oversubscribed fund is closing with approximately $600 million of capital commitments, exceeding its target and nearly double the size of its predecessor Fund II. Medalist received strong support from both new and existing investors, including pensions, endowments, foundations, consultants, family offices, and high net worth individuals.

Medalist launched its private credit strategy in 2015 to capitalize on growing opportunities in the asset-based lending markets. The strategy seeks to generate consistent current income with strong downside protection through lending programs secured by hard and financial assets. Collateral for loans includes commercial equipment, autos, receivables, litigation finance, consumer loans, aircraft, commercial / residential real estate, and other assets. Medalist maintains a differentiated approach through diversification across asset classes and a focus on smaller and less crowded parts of the market, with transaction sizes generally between $5 and $30 million. With the final closing, Fund III will have drawn 55% of its capital commitments, reflecting a deep pipeline of existing funding partnerships and newly sourced opportunities across asset classes in what Medalist considers to be a robust environment for non-bank specialty lenders.

“We are incredibly grateful for the strong support of existing partners and new relationships in exceeding our target raise, particularly given the challenging fundraising environment over the past year. We look forward to building upon these partnerships as we work diligently to deliver outstanding results for our clients,” said Michael Ardisson, President & COO of Medalist Partners.

“We have continually differentiated our asset-based private credit platform with a focus on robust collateral and consistent cash flow in niche parts of the specialty finance market,” said Greg Richter, Medalist’s Chief Executive Officer. “Amidst higher rates, market uncertainty, and liquidity constraints in the traditional banking sector, we are excited about the opportunities in asset-based private credit. We are grateful for the support of our partners and look forward to continued success together.”